Gary Siegel

NEW YORK - The Treasury Department today auctioned $40 billion of two-year notes with a 5/8% coupon at a 0.738% yield, a price of 99.776070.

NEW YORK - The Treasury Department today auctioned $32 billion of four-week bills at a 0.085% high yield, a price of 99.993389.

NEW YORK – “Activity softened in the Fifth District service sector in June,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “Revenue expansion at non-retail businesses slowed and retail sales were nearly flat, hampered in part by a continued slump in big-ticket sales. In addition, shopper traffic waned and inventory reductions slowed.”

NEW YORK – “Manufacturing activity in the central Atlantic region expanded for the fifth consecutive month,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “Looking at the main components of activity, shipments were virtually unchanged, while employment grew at a modest pace, and new orders grew more slowly. Other indicators varied. Growth in backlogs moderated considerably this month and capacity utilization fell below its all-time high readings seen in April and May. Vendor lead-time continued to grow at a solid pace, while inventories grew at a somewhat slower rate.”

The Treasury Department yesterday auctioned $31 billion of four-week bills at a 0.030% high yield, a price of 99.997667.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were higher yesterday, as the three-months incurred a 0.115% high rate, up from 0. 065% the prior week, and the six-months incurred a 0.170% high rate, up from 0.150%.

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.115% high rate, up from 0. 065% the prior week, and the six-months incurred a 0.170% high rate, up from 0.150% the week before.

NEW YORK - The Treasury Department said it will auction $25 billion 56-day cash management bills on Wednesday, June 23.

NEW YORK - The Treasury Department said it will sell $32 billion of four-week discount bills tomorrow.

Moody’s Investors Service and Fitch Ratings upgraded the Port Arthur Independent School District in Texas on Friday, ahead of its planned sale of $49.5 million of unlimited-tax school building bonds.

The composite index of leading economic indicators gained 0.4% in May, the Conference Board reported yesterday.

NEW YORK - The Treasury Department said it will auction $40 billion two-year notes on Tuesday, June 22 and $38 billion five-year notes on Wednesday, June 23.

NEW YORK - The Treasury Department said it will auction $30 billion seven-year notes on Thursday, June 24.

NEW YORK - The Treasury Department said today it will auction $27 billion 91-day bills and $27 billion 182-day discount bills Monday.

NEW YORK – The region's manufacturing sector continued to improve but at a slower pace, as the general business conditions index slumped to 8.0 in June from 21.4 in May, this month’s Federal Reserve Bank of Philadelphia Report on Business indicates.

NEW YORK - The composite index of Leading Economic Indicators gained 0.4% in May, the Conference Board reported today.

NEW YORK – Calling it “the most important element in fixing our financial system,” Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said financial firms must be allowed to fail even if they are big and interconnected.

NEW YORK - The Treasury Department today sold $25 billion 56-day cash management bills, dated June 17, due Aug. 12, at a 0.090% high tender rate.

The Empire State Manufacturing Survey showed conditions for New York State manufacturers improved in June, the Federal Reserve Bank of New York reported yesterday, as the general business conditions index rose to 19.57 from 19.11.

Home builder confidence fell for the first time in three months in June as the impact of the home buyer tax credit waned.