Gary Siegel

After real GDP growth of 1.7% this year, the economy should reach 2.3% growth next year, while inflation remains tame and unemployment edges down, according to the 26th annual Chicago Fed Economic Outlook Symposium.

The Treasury Department auctioned $29 billion of seven-year notes, with a 1% coupon, a 1.045% high yield, a price of 99.697008.

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

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "activity eased further in November, while producers' expectations were unchanged from last month at modestly positive levels," according to the bank's monthly manufacturing survey, released Thursday.

Pending home sales grew 5.2% to an index reading of 104.8 in October, its highest level since March 2007, after an upwardly revised 0.4% increase to 99.6 in September, according to a report released Thursday by the National Association of Realtors.

Initial unemployment claims fell 23,000 to 393,000 in the week ended November 24, the Labor Department reported Thursday.

The Treasury Department auctioned $35 billion of five-year notes, with a 5/8% coupon, a 0.641% high yield, a price of 99.921392.

Tweaking his previous statements, Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans said Tuesday the fed funds rate should be kept near zero until unemployment is below 6.5% as long as inflation stays under 2.5%.

The Treasury Department Tuesday auctioned $35 billion of two-year notes with a 1/4% coupon at a 0.270% yield, a price of 99.960135.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.175% high yield, a price of 99.986389.

Service sector activity "expanded in November, although employment remained soft," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "advanced moderately" in November, according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index reversed to positive 9 from negative 7 in October.

The consumer confidence index gained to 73.7 in November from an upwardly revised 73.1 last month, The Conference Board reported Tuesday.

The Chicago Fed Midwest Manufacturing Index fell 1.2% in October to a seasonally adjusted level of 92.1, as three of the four regional sectors slid, the Federal Reserve Bank of Chicago reported Tuesday.

The Treasury Department sold $13 billion of inflation-indexed 9-year 8-month TIPs at a negative 0.720% yield, an adjusted price of 109.101900, with a 1/8% coupon.

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

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

The composite index of Leading Economic Indicators rose 0.2% in October following a revised 0.5% gain in September, originally reported as a 0.6% increase, the Conference Board reported Wednesday.

The University of Michigan's final November consumer sentiment index reading was 82.7, compared to the preliminary November 84.9, the final October 82.6, and the final September 78.3, according to market sources.

Initial unemployment claims fell 41,000 to 410,000 in the week ended November 17, the Labor Department report Wednesday.