Gary Siegel

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.

NEW YORK – 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 CEO Sandra Pianalto said today.

NEW YORK - The Treasury Department today auctioned $31 billion of four-week bills at a 0.170% high yield, a price of 99.986778.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed yesterday, as the three-months incurred a 0.160% high rate, up from 0.155% last week, and the six-months incurred a 0.230% high rate, unchanged from 0.230%.

Builders’ confidence in the market for new single-family homes surged in May, as the National Association of Home Builders’ housing market index — a monthly gauge of builder sentiment —– climbed to 22 from April’s level of 19, the group announced yesterday.

The Empire State Manufacturing Survey general business conditions index slipped to 19.11 in the month from 31.86 in April, the Federal Reserve Bank of New York reported yesterday.

NEW YORK - Builders’ confidence in the market for new single-family homes surged in May, as the National Association of Home Builders' housing market index - a monthly gauge of builder sentiment – climbed to 22 from April’s 19, the group announced this afternoon.

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 0.160% high rate, up from 0.155% the prior week, and the six-months incurred a 0.230% high rate, unchanged 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 19.

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

NEW YORK - The Empire State Manufacturing Survey showed conditions for New York State manufacturers declined May, the Federal Reserve Bank of New York today reported, as the general business conditions index slipped to 19.11 in the month from 31.86 in April, the Fed reported.