Gary Siegel

Existing home sales increased 7.7% in August to a seasonally adjusted 5.03 million-unit rate, after an unrevised 4.67 million unit rate in July, the National Association of Realtors announced Wednesday.

The Federal Open Market Committee said it will extend the average maturity of its holdings of securities, buying $400 billion of Treasuries by the end of June with six to 30 years remaining to maturity and selling an equal amount of maturities three years and shorter, according to an announcement after the FOMC meeting.

The Federal Open Market Committee said it will extend the average maturity of its holdings of securities, buying by the end of June $400 billion of Treasuries with six to 30 years remaining to maturity and selling an equal amount of maturities three years and shorter, according to an announcement after the FOMC meeting.

Existing home sales increased 7.7% in August to a seasonally adjusted 5.03 million-unit rate, after an unrevised 4.67 million unit rate in July, the National Association of Realtors announced Wednesday.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a zero high yield and a price of par.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.090% high yield and a price of 99.909000.

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

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.090% high yield, a price of 99.909000.

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 0.010% high rate, unchanged from 0.010% the previous week, and the six-months incurred a 0.030% high rate, down from 0.050% .

Builders’ confidence in the market for new single-family homes remained quite low as the National Association of Home Builders’ housing market index, a monthly gauge of builder sentiment, slipped to 14 in September from 15 in August.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.010% high rate, unchanged from 0.010% the prior week, and the six-months incurred a 0.030% high rate, down from 0.050% the week before.

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

Builders’ confidence in the market for new single-family homes remained quite low as the National Association of Home Builders' housing market index - a monthly gauge of builder sentiment – slipped to 14 in September from 15 in August.

The University of Michigan’s preliminary September consumer sentiment index reading was 57.8, following the final August 55.7, the preliminary August 54.9, and the final July 63.7, according to market sources.

The University of Michigan's preliminary September consumer sentiment index reading was 57.8, compared to the final August 55.7, the preliminary August 54.9, and the final July 63.7, according to market sources.

Esther George, the Federal Reserve Bank of Kansas City’s first vice president and chief operating officer, will replace outgoing president and chief executive officer Thomas M. Hoenig on Oct. 1.

The Philadelphia region’s manufacturing sector continued to contract in September, but the drops were not as widespread as in August, as the general business conditions index narrowed to negative 17.5 from negative 30.7, this month’s Federal Reserve Bank of Philadelphia Report on Business indicates.

The Empire State Manufacturing Survey showed “conditions for New York manufacturers worsened for a fourth consecutive month in September,” the Federal Reserve Bank of New York reported Thursday as the general business conditions index declined to negative 8.82 in September from negative 7.72 in August.

The Treasury Department said it will auction $11 billion 9-year 10-month inflation-protected notes on Thursday, September 22.