Gary Siegel

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "fell by a similar modest amount as last month, and producers' expectations moderated but remained positive overall," according to the bank's monthly manufacturing survey, released Thursday.

The Treasury Department said Thursday it will auction $29 billion 91-day bills and $24 billion 182-day discount bills Monday.

The Treasury Department auctioned $35 billion of five-year notes, with a 5/8% coupon, a 0.710% high yield, a price of 99.583182.

The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/8% coupon at a 0.233% yield, a price of 99.784628.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.045% high yield, a price of 99.996500.

Service sector activity "weakened in April," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "pulled back in April after growing at a slower pace in March," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index dropped to negative 6 from positive 3 in March.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.050% high rate, down from 0.055% the prior week, and the six-months incurred a 0.085% high rate, off from 0.090% the week before.

The Treasury Department said Monday it will sell $40 billion of four-week discount bills Tuesday.

The Chicago Fed National Activity Index for March slumped to negative 0.23 from a revised positive 0.76 reading in February, while the three-month moving average (CFNAI-MA3) slid to negative 0.01 from a revised positive 0.12 in February, the Federal Reserve Bank of Chicago reported Monday.

The Treasury Department Thursday auctioned $18 billion of four-year four-month inflation-indexed notes with a 0.125% coupon, a negative 1.311% high yield, an adjusted price of 107.8205710.

The Treasury Department said it will auction $29 billion seven-year notes on Thursday, April 25.

The Treasury Department said Thursday it will auction $32 billion 91-day bills and $28 billion 182-day discount bills Monday.

The region's manufacturing sector expanded in April, as the general business conditions index slipped to 1.3 from 2.0 in March, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The composite index of Leading Economic Indicators fell 0.1% in March following an unrevised 0.5% increase in February, the Conference Board reported Thursday.

The Federal Open Market Committee will need to keep real interest rates "unusually low" for the next five to 10 years as a result of "dramatic changes in the demand for and supply of safe assets," Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said Thursday.

Broker-dealers' solvency needs to be examined, according to Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren, who stressed "the need for more regulatory focus on broker-dealers."

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.050% high yield, a price of 99.996111.

Industrial production rose 0.4% in March after a revised 1.1% gain in February, first reported as a 0.8% increase, while capacity utilization edged up to 78.5% from an unrevised 78.3% in February, the Federal Reserve reported Tuesday.

The benefits of the Fed's asset purchases still exceed the costs, Federal Reserve Bank of New York President and Chief Executive Officer William C. Dudley, reiterated Tuesday.