Gary Siegel

Economic growth should be stronger than expected for the next three quarters but should slow down toward year-end, with 2.7% average annual growth for the next five quarters, according to 42 professional forecasters surveyed by the Federal Reserve Bank of Philadelphia.

The University of Michigan’s preliminary February consumer sentiment index reading was 73.7, compared to the final January figure of 74.4, the preliminary January reading of 72.8, and the final December number of 72.5, according to market sources. Economists polled by Thomson Reuters had predicted a 75.0 reading for the index.

NEW YORK – Economic growth should be stronger than expected for the next three quarters but slow down toward year end, with 2.7% average annual growth for the next five quarters, according to 42 professional forecasters surveyed by the Federal Reserve Bank of Philadelphia.

NEW YORK - The University of Michigan's preliminary February consumer sentiment index reading was 73.7, compared to the final January 74.4, the preliminary January 72.8, and the final December 72.5, according to market sources.

The Treasury Department yesterday auctioned $16 billion of 30-year bonds with a 4 5/8% coupon at a 4.720% high yield, a price of 98.483611. The bid-to-cover ratio was 2.36.

Existing home sales were strong in most states during the fourth quarter, and many areas saw prices increase from a year earlier, according to the National Association of Realtors.

NEW YORK - The Treasury Department today auctioned $16 billion of 30-year bonds with a 4 5/8% coupon at a 4.720% high yield, a price of 98.483611.

NEW YORK – Existing-home sales were strong in most states during the fourth quarter, as many metro areas saw prices increase from a year earlier, according to the National Association of Realtors.

The Treasury Department yesterday auctioned $25 billion of 10-year notes with a 3 5/8% coupon at a 3.692% high yield, a price of 99.4438944

Economic conditions should “warrant exceptionally low levels of the federal funds rate for an extended period,” Federal Reserve Board chairman Ben Bernanke planned to tell Congress yesterday, while adding that as the economy expands monetary policy will tighten.

NEW YORK - The Treasury Department auctioned $25 billion of 10-year notes with a 3 5/8% coupon at a 3.692% high yield, a price of 99.4438944

NEW YORK – Economic conditions should “warrant exceptionally low levels of the federal funds rate for an extended period,” Federal Reserve Board Chairman Ben S. Bernanke planned to tell Congress today, but added that as the economy expands monetary policy will tighten.

The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.377% yield, a price of 99.994122.

The Federal Reserve today announced the results of its term-auction facility, selling $15.426 billion of 28-day credits at a 0.250% stop-out rate.

NEW YORK - The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.377% yield, a price of 99.994122.

NEW YORK - The Treasury Department today auctioned $26 billion of one-year bills at a 0.320% high yield, a price of 99.676444.

NEW YORK - The Treasury Department today auctioned $24 billion of four-week bills at a 0.055% high yield, a price of 99.995722.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.110% high rate, up from 0.095% the week before, and the six-months incurred a 0.170% high rate, up from 0.165%.

The Federal Reserve announced yesterday it set a 0.25% minimum bid on its $50 billion 28-day term-auction facility.

The Conference Board’s employment trends index rose 1.0% to 93.2 in January from a revised 2.5% jump to 92.3 in December, originally reported as a 1.7% increase to 91.8, and is down 0.7% from a year ago, the group said yesterday.