Gary Siegel

Efforts to prevent another fiscal crisis seem to be more “rhetoric” than “substance and necessary reform,” Federal Reserve Bank of Kansas City president Thomas Hoenig said yesterday.

NEW YORK - The Treasury Department auctioned $42 billion of five-year notes, with a 2 1/2% coupon, a 2.605% high yield, a price of 99.510730.

NEW YORK - The Treasury Department today sold $25 billion 56-day cash management bills, dated March 25, due May 20, at a 0.130% high tender rate.

NEW YORK – Efforts to prevent another fiscal crisis seem to be more “rhetoric” than “substance and necessary reform,” Federal Reserve Bank of Kansas City President Thomas M. Hoenig said today.

“Manufacturing activity in the central Atlantic region advanced somewhat faster in March than a month earlier,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond.

Monetary policy should be set by a series of well-crafted rules, Federal Reserve Bank of Philadelphia president and chief executive officer Charles I. Plosser said yesterday.

NEW YORK - The Treasury Department today auctioned $44 billion of two-year notes with a 1% coupon at a 1.000% yield, a price of 100.000000.

NEW YORK - The Treasury Department today auctioned $31 billion of four-week bills at a 0.105% high yield, a price of 99.991833.

NEW YORK – “Manufacturing activity in the central Atlantic region advanced somewhat faster in March than a month earlier,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “Looking at the main components of activity, shipments grew at a modest pace, while new orders were virtually unchanged and employment steadied. Other indicators were mixed. Backlogs of orders landed in negative territory and capacity utilization turned positive after being negative for the last three months. Vendor delivery times grew at a considerably quicker rate, while manufacturers reported somewhat slower growth in finished goods inventories.”

NEW YORK – “Service sector activity strengthened in March,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “Retail sales expanded and inventories decreased. In addition, the drop in big-ticket sales abated this month. Shopper traffic continued to slump, however. At non-retail services firms, revenues fell, but the decline was less pervasive than in recent months. Price change in the broad service sector was nearly the same as a month ago.”

NEW YORK – Monetary policy should be set by a series of well-crafted rules, Federal Reserve Bank of Philadelphia President and Chief Executive Officer Charles I. Plosser said today.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed yesterday, as the three-months incurred a 0.155% high rate, down from 0.165% the previous week, and the six-months incurred a 0.240% high, unchanged from 0.240%.

The Chicago Fed National Activity Index for February reversed to negative 0.64 from a revised negative 0.04 reading in January, originally reported as positive 0.02.

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 0.155% high rate, down from 0.165% the prior week, and the six-months incurred a 0.240% high rate, unchanged from 0.240% the week before.

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

NEW YORK - The Treasury Department said it will auction $25 billion 56-day cash management bills on Wednesday, March 24.

NEW YORK - The Treasury Department said it will auction $25 billion 56-day cash management bills on Wednesday, March 24.

NEW YORK - The Chicago Fed National Activity Index for February reversed to negative 0.64 from a revised negative 0.04 reading in January, originally reported as positive 0.02.

The region’s manufacturing sector continued to improve, as the general business conditions index increased to 18.9 in March from 17.6 in February, this month’s Federal Reserve Bank of Philadelphia Report on Business indicates.

The composite index of leading economic indicators gained 0.1% in February, its 11th straight gain, the Conference Board reported yesterday.