Gary Siegel

The Treasury Department Wednesdahy auctioned $24 billion of 10-year notes with a 2% coupon at a 2.020% high yield and a price of 99.819726.

If the economic recovery stalls, more policy accommodation would be in order, most likely the Fed’s buying of mortgage-backed securities, Federal Reserve Bank of San Francisco president and chief executive John C. Williams said Wednesday.

The Treasury Department auctioned $24 billion of 10-year notes with a 2% coupon at a 2.020% high yield, a price of 99.819726.

If the economic recovery stalls, more policy accommodation would be in order, most likely the Fed’s buying of mortgage-backed securities, Federal Reserve Bank of San Francisco President and CEO John C. Williams said Wednesday.

The tax-exempt market continued to weaken for the fourth consecutive trading session as yields are just too low to be attractive anymore.

The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.347% yield, a price of 99.710759. The bid-to-cover ratio was 3.30. Tenders at the high yield were allotted 12.68%.

Consumer credit increased by $19.3 billion, or 9.3%, in December to $2.479.0 trillion, the Federal Reserve reported Tuesday.

Consumer credit increased by $19.3 billion, or 9.3%, in December to $2.479.0 trillion, the Federal Reserve reported Tuesday.

The Treasury Department Tuesday auctioned $32 billion of three-year notes with a 1/4% coupon at a 0.347% yield, a price of 99.710759.

The Treasury Department Tuesday auctioned $26 billion of 364-day bills at a 0.140% high yield, a price of 99.858444.

The Treasury Department Tuesday auctioned $37 billion of four-week bills at a 0.060% high yield, a price of 99.995333.

Federal Reserve Board Chairman Ben Bernanke will repeat his testimony from last week before the House Budget committee to the Senate budget panel Tuesday, the Fed said.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were higher Monday, as the three-months incurred an 0.080% high rate, up from 0.050% the previous week, and the six-months incurred a 0.100% high rate, up from 0.075% .

The Conference Board’s employment trends index grew to 105.81 in January from an upwardly revised 105.04 in December, originally reported as 104.32, and is up 5.9% from a year ago, the group announced Monday.

The Federal Open Market Committee’s decision to set a 2% explicit, numerical inflation target is “an important step forward” that could stop the nation from misreading the output gap and thereby avoiding a “looming disaster” caused by keeping rates near zero for too long, according to Federal Reserve Bank of St. Louis president and chief executive James Bullard.

Newly issued Treasury securities held in stripped form decreased about $290.6 million in January to a total of $195.174 billion, the Bureau of the Public Debt reported Monday.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were higher, as the three-months incurred an 0.080% high rate, up from 0.050% the prior week, and the six-months incurred a 0.100% high rate, up from 0.075% the week before.

The Treasury Department said Monday it will sell $37 billion of four-week discount bills Tuesday.

The Conference Board’s Employment Trends Index (ETI) grew to 105.81 in January from an upwardly revised 105.04 in December, originally reported as 104.32, and is up 5.9% from a year ago, the group announced Monday.

The Federal Open Market Committee’s decision to set a 2% explicit, numerical inflation target is “an important step forward,” that could stop the nation from misreading the output gap and, thereby, avoiding a “looming disaster” caused by keeping rates near zero for too long, according to Federal Reserve Bank of St. Louis President and CEO James Bullard.