Gary Siegel

NEW YORK – The Federal Reserve announced today it will set a 0.25% minimum bid on its $25 billion 42-day Term Auction Facility credit selling today.

NEW YORK – The seasonally adjusted Milwaukee Index increased to 57 in November from 50 in October, according to the Institute for Supply Management-Milwaukee.

NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 56.1 in November from 54.2 in October, the National Association of Purchasing Management-Chicago said today.

NEW YORK – New York City business activity improved again in November, as the Institute for Supply Management-New York’s Report on Business current business conditions index has shown expansion for four straight months, the group reported this morning.

Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “grew moderately in November, and producers were increasingly optimistic about the months ahead,” according to the bank’s monthly manufacturing survey, released Wednesday.

The University of Michigan’s final November consumer sentiment index reading was 67.4, compared to the preliminary 66.0 reading, and the final October 70.6, according to market sources.

NEW YORK - The Treasury Department auctioned $32 billion of seven-year notes, with a 2 3/4% coupon, a 2.835% high yield, a price of 99.463748.

NEW YORK - Manufacturing activity in the Federal Reserve Bank of Kansas City’s region “grew moderately in November, and producers were increasingly optimistic about the months ahead,” according to the bank’s monthly manufacturing survey, released today.

NEW YORK - The University of Michigan's final November consumer sentiment index reading was 67.4, compared to the preliminary 66.0 reading, the final October 70.6, the preliminary October 69.4, the final September 73.5, and the final August 65.7, according to market sources.

The consumer confidence index climbed to 49.5 in November from an upwardly revised 48.7 last month, the Conference Board reported yesterday.

NEW YORK - The Treasury Department auctioned $42 billion of five-year notes, with a 2 1/8% coupon, a 2.175% high yield, a price of 99.764325.

NEW YORK - The Treasury Department today auctioned $32 billion of four-week bills at a 0.060% high yield, a price of 99.995500.

NEW YORK – “Activity in the service sector contracted more slowly in November,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “The fall in retail sales halted and shopper traffic declined only slightly. In addition, the contraction in big-ticket sales slowed, owing in part to an uptick in sales of new and used automobiles. Inventory reductions nearly matched last month's. Revenues at services firms contracted; however, the decline was not as widespread as in October. Looking ahead six months, survey respondents were much more optimistic about business prospects than they were last month.”

NEW YORK - The consumer confidence index climbed to 49.5 in November from an upwardly revised 48.7 last month, The Conference Board reported this morning.

NEW YORK – “Manufacturing activity in the central Atlantic region expanded for the seventh straight month but was virtually flat on balance this month,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “Looking at the main components of activity, growth in shipments and new orders tapered off, while employment returned to negative territory after being positive for the last two months. Other indicators were generally in line with a month ago. Capacity utilization continued to grow more slowly, while backlogs edged slightly lower than a month ago. Vendor delivery times were virtually unchanged, while manufacturers reported slower growth in inventories.”

Price instability, both inflation and deflation, is a “significant source of financial instability,” Federal Reserve Bank of Philadelphia president Charles Plosser told an audience yesterday.

The region’s manufacturing sector picked up, as the general business conditions index increased to 16.7 in November from 11.5 in October, this month’s Federal Reserve Bank of Philadelphia Report on Business indicates.

The composite index of leading economic indicators gained 0.3% in October, its seventh straight gain, the Conference Board reported yesterday.

NEW YORK - The Treasury Department said it will auction $32 billion seven-year notes on Wednesday, Nov. 25.

NEW YORK - The Treasury Department said it will auction $44 billion five-year notes on Tuesday, Nov. 24 and $42 billion two-year notes on Monday, Nov. 23.