Gary Siegel

The Treasury Department yesterday auctioned $40 billion of five-year notes, with a 2 1/8% coupon, a 2.130% high yield, and a price of 99.976355.

NEW YORK - The Treasury Department auctioned $40 billion of five-year notes, with a 2 1/8% coupon, a 2.130% high yield, a price of 99.976355.

NEW YORK - The Treasury Department today sold $25 billion 56-day cash management bills, dated May 27, due July 22, at a 0.150% high tender rate.

The Treasury Department yesterday auctioned $42 billion of two-year notes with a 0.75% coupon at a 0.769% yield, a price of 99.962406.

The service sector “was mixed in May,” according to the Federal Reserve Bank of Richmond service-sector activity survey.

“Manufacturing activity in the central Atlantic region expanded for the fourth straight month,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond.

The consumer confidence index jumped to 63.3 in May from a downwardly revised 57.7 last month, the Conference Board reported yesterday.

NEW YORK - The Treasury Department today auctioned $42 billion of two-year notes with a 0.75% coupon at a 0.769% yield, a price of 99.962406.

NEW YORK - The Treasury Department today auctioned $31 billion of four-week bills at a 0.155% high yield, a price of 99.987944.

NEW YORK – “Manufacturing activity in the central Atlantic region expanded for the fourth straight month,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “Looking at the main components of activity, shipments edged slightly higher, while new orders inched lower and employment grew more slowly. Other indicators were also mixed but suggested continued solid activity. Backlogs continued their upward trend and capacity utilization matched its all time high reading seen in April. Vendor lead-time continued to grow at a solid pace; suggesting activity remained strong in May. Inventories grew at a somewhat slower pace.”

NEW YORK – “Activity in the Fifth District service sector was mixed in May,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “Retail sales flattened, even though big-ticket sales declined more slowly than a month ago and retail inventories fell. Shopper traffic also tapered off. In contrast, revenues picked up at non-retail services firms.”

NEW YORK - The consumer confidence index jumped to 63.3 in May from a downwardly revised 57.7 last month, The Conference Board reported this morning.

Expectations for economic growth were revised higher by respondents to the May 2010 Industry Survey released yesterday by the National Association for Business Economics.

The Chicago Fed National Activity Index for April improved to positive 0.29 from a revised positive 0.13 reading in March, originally reported as negative 0.07.

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.165% high rate, up from 0.160% the prior week, and the six-months incurred a 0.220% high rate, down from 0.230% the week before.

NEW YORK - The Treasury Department said it will auction $25 billion 56-day cash management bills on Wednesday, May 26.

NEW YORK - The Treasury Department said it will sell $31 billion of four-week discount bills tomorrow.

NEW YORK - The Chicago Fed National Activity Index for April improved to positive 0.29 from a revised positive 0.13 reading in March, originally reported as negative 0.07.

States issued 10.3% more debt in 2009 — $460 billion — than the $417 billion issued in 2008, and debt likely will rise again this year, Moody’s Investors Service said in a report.

High unemployment and low inflation warrant “exceptionally low levels of the federal funds rate for an extended period of time,” Federal Reserve Bank of Cleveland president and chief executive officer Sandra Pianalto said yesterday.