Gary Siegel

New York City business activity expanded in April, as the current business conditions index increased to 58.3 from 51.2 in March, the Institute for Supply Management-New York's Report on Business index, released Thursday, indicated.

The European Central Bank announced its Governing Council cut interest rates 25 basis points on its main refinancing rate at its latest monetary policy meeting Thursday.

The overall economy grew for the forty-seventh straight time, while the manufacturing sector expanded for the fifth month, the Institute for Supply Management reported Wednesday.

The Treasury Department Tuesday auctioned $23 billion of 364-day bills at a 0.105% high yield, a price of 99.893833.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.025% high yield, a price of 99.998056.

Texas service sector activity expanded slower in April, according to business executives responding to the Texas Service Sector Outlook Survey, as the revenue index sank to 6.1 from 15.4.

The consumer confidence index climbed to 68.1 in April from an upwardly revised 61.9 last month, The Conference Board reported Tuesday.

The Chicago Purchasing Managers' Business Barometer fell to 49.0 in April from 52.4 in March, the National Association of Purchasing Management-Chicago said Tuesday.

The seasonally adjusted Milwaukee Report on Business dropped to 48.4 in April from 51.0 in March, the Institute for Supply Management-Milwaukee reported Tuesday.

The employment cost index rose 0.3% in the first quarter, after increasing 0.5% during the fourth quarter, according to a report by the Labor Department's Bureau of Labor Statistics released Tuesday.

The Treasury Department said it will pay down $35 billion during the second quarter and end with a $75 billion cash balance.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.050% high rate, unchanged from 0.050% the prior week, and the six-months incurred a 0.080% high rate, off from 0.085% the week before.

The Treasury Department said Monday it will sell $30 billion of four-week discount bills Tuesday.

Texas factory activity, as measured by the production index, "was flat" in April, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Monday.

Pending home sales gained 1.5% to an index reading of 105.7 in March, after a revised 1.0% decrease to 104.1 in February, according to a report released Monday by the National Association of Realtors.

The Chicago Fed Midwest Manufacturing Index climbed 0.3% in March to a seasonally adjusted level of 96.5, as three of the four regional sectors improved, the Federal Reserve Bank of Chicago reported Monday.

The University of Michigan's final April consumer sentiment index reading was 76.4, compared to the preliminary April 72.3, the final March 78.6, and the preliminary March 71.8, according to market sources.

The Midwest Economy Index gained to 0.27 in March from 0.21 in February, the Federal Reserve Bank of Chicago reported Friday.

The Treasury Department auctioned $29 billion of seven-year notes, with a 1.125% coupon, a 1.155% high yield, a price of 99.798822.

The Treasury Department said it will auction $23 billion year bills on April 30.