Gary Siegel

NEW YORK - The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 3 3/8% coupon at a 3.754% high yield, a price of 96.900805.

NEW YORK – The recession is over and the recovery has begun, “but there is much work to be done,” Federal Reserve Bank of Chicago President Charles L. Evans said today.

The Federal Reserve yesterday announced the results of its term auction facility, selling $38.531 billion of 28-day credits at a 0.250% stop-out rate. The bid-to-cover ratio was 0.51.

The Treasury Department yesterday auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.490% yield, a price of 99.663820.

The Federal Reserve Board yesterday said its banks “provided for payments of approximately $46.1 billion of their estimated 2009 net income of $52.1 billion to the U.S. Treasury.”

NEW YORK - The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.490% yield, a price of 99.663820.

NEW YORK - The Treasury Department today auctioned $26 billion of one-year bills at a 0.335% high yield, a price of 99.661278.

NEW YORK - The Treasury Department today auctioned $10 billion of four-week bills at a zero high yield, a price of par.

NEW YORK – The Federal Reserve today announced the results of its term auction facility, selling $38.531 billion of 28-day credits at a 0.250% stop-out rate, the lowest rate at which the offering amount clears, which is the sole rate awarded to all the successful bids.

NEW YORK - The Federal Reserve Board today said its banks “provided for payments of approximately $46.1 billion of their estimated 2009 net income of $52.1 billion to the U.S. Treasury.”

The Treasury Department yesterday sold $10 billion of 10-year Treasury inflation-protected securities at a 1.430% yield, an adjusted price of 99.489212, with a 1 3/8% coupon.

The Federal Reserve announced yesterday it set a 0.25% minimum bid on its $75 billion 28-day Term Auction Facility.

The Conference Board’s Employment Trends Index rose 1.7% to 91.8 in December, up from a revised 1.7% jump to 90.3 in October originally reported as a 1.8% increase to 90.8, and is down 5.2% from a year ago, the group announced yesterday.

Reducing the Fed’s balance sheet needs to be done neither too fast nor too slowly, Federal Reserve Bank of Atlanta president Dennis P. Lockhart said yesterday, adding that he backs interest rates remaining low for an “extended period.”

NEW YORK – The Treasury Department sold $10 billion of inflation-indexed ten-year TIPs at a 1.430% yield, an adjusted price of 99.489212, with a 1 3/8% coupon.

NEW YORK – Reducing the Fed’s balance sheet needs to be done neither too fast nor too slowly, Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis P. Lockhart said today, adding that he backs interest rates remaining low for an "extended period."

NEW YORK - Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.040% high rate, down from 0.080% the prior week, and the six-months incurred a 0.130% high rate, down from 0.180% the week before.

NEW YORK - The Treasury Department said it will sell $10 billion of four-week discount bills tomorrow.

NEW YORK – The Federal Reserve announced today it will set a 0.25% minimum bid on its $75 billion 28-day Term Auction Facility credit selling today.

With labor markets still soft and businesses unable to increase prices, the Fed is likely to keep monetary policy accommodative in order to continue to spur recovery, Boston Federal Reserve Bank president Eric Rosengren said Friday.