Gary Siegel

The Treasury Department said it will auction $26 billion year bills on Tuesday, May 1.

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “eased further in April, but activity remained expansionary and well above year-ago levels,” according to the bank’s monthly manufacturing survey, released Thursday.

Pending home sales climbed 4.1% to an index reading of 101.4 in March after a revised 0.4% increase to 97.4 in February, according to a report released Thursday by the National Association of Realtors.

The Chicago Fed National Activity Index for March fell to negative 0.29 from a revised positive 0.07 reading in February, while the three-month moving average (CFNAI-MA3) declined to positive 0.05 in March from a revised positive 0.37 in February, the Federal Reserve Bank of Chicago reported Thursday.

Most of the 17 Federal Reserve bank presidents and Federal Reserve Board members believe rates should and will stay near zero until 2014, with few expecting rates to rise before then, according to projected policy paths released by the Fed Wednesday.

The Federal Open Market Committee has been “bold and aggressive” and is “prepared to do more as needed,” Federal Reserve Board Chairman Ben Bernanke said Wednesday.

Most members of the Federal Open Market Committee believe rates should stay near zero until 2014, with few expecting rates to rise before then, according to projected policy paths released by the Fed Wednesday.

The Treasury Department auctioned $35 billion of five-year notes, with a 7/8% coupon, a 0.887% high yield, a price of 99.941438.

Service sector activity “flattened overall” in April, according to the Federal Reserve Bank of Richmond’s service-sector activity survey, released Tuesday.

Manufacturing activity in the Federal Reserve Bank of Richmond region strengthened in April, according to the monthly business activity survey by the bank.

The consumer confidence index dipped to 69.2 in April from a downwardly revised 69.5 last month, the Conference Board reported Tuesday.

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 $30 billion of four-week bills at a 0.075% high yield, a price of 99.994167.

Service sector activity “flattened overall” in April, according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

“Manufacturing activity in the central Atlantic region advanced somewhat faster in April following slightly slower growth in March,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “A significant increase in the shipments component pushed the overall index higher, while employment grew at a rate above March's pace and growth in new orders held nearly steady. Most other indicators also suggested solid activity. District contacts reported capacity utilization grew more quickly, while backlogs grew more slowly. In addition, manufacturers reported that delivery times lessened, while inventories grew at a somewhat higher rate.”

The consumer confidence index dipped to 69.2 in April from a downwardly revised 69.5 last month, The Conference Board reported Tuesday.

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

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.080% high rate, unchanged from 0.080% the previous week, and the six-months incurred a 0.130% high rate, off from 0.135% the week before.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.080% high rate, unchanged from 0.080% the prior week, and the six-months incurred a 0.130% high rate, off from 0.135% the week before.

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