Gary Siegel

The economy has entered a sustained period of expansion, but its strength and durability remains uncertain, according to Federal Reserve Bank of San Francisco President and CEO Janet L. Yellen.

Existing-home sales increased while prices dropped in most states during the third quarter, according to the National Association of Realtors.

Economic recovery has begun, but growth will be “relatively subdued” from now “through the medium term,” Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis P. Lockhart said today.

The Treasury Department yesterday auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.404% yield, a price of 99.915148.

The Conference Board’s employment trends index rose 0.7% to 89.3 in October, from a revised 0.5% jump to 88.7 in September, originally reported as a 0.3% increase to 88.5, the group announced yesterday.

The Treasury Department today auctioned $40 billion of three-year notes with a 1 3/8% coupon at a 1.404% yield, a price of 99.915148.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.065% high rate, up from 0.060% the prior week, and the six-months incurred a 0.165% high rate, down from 0.170% the week before.

NEW YORK – The Conference Board’s Employment Trends Index (ETI) rose 0.7% to 89.3 in October, from a revised 0.5% jump to 88.7 in September, originally reported as a 0.3% increase to 88.5, and is down 13.2% from a year ago, the group announced today.

Inflationary pressures were higher in October as the U.S. future inflation gauge rose to 91.7 from an upwardly revised 91.0 in September, originally reported as 90.6, according to data released Friday by the Economic Cycle Research Institute.

NEW YORK - U.S. inflationary pressures were higher in October as the U.S. future inflation gauge rose to 91.7 from an upwardly revised 91.0 in September, according to data released this morning by the Economic Cycle Research Institute.

The Treasury Department said yesterday it will auction $30 billion of 91-day bills and $31 billion of 182-day discount bills Monday.

The European Central Bank yesterday announced its Governing Council held interest rates at current levels at its latest monetary policy meeting.

NEW YORK - The European Central Bank today announced its Governing Council held interest rates at current levels at its latest monetary policy meeting this morning.

The Treasury Department said yesterday it plans to sell a record $81 billion at its quarterly refunding to raise $42.5 billion.

The Institute for Supply Management’s non-manufacturing business activity composite index was 50.6 in October, off from 50.9 in September, on a seasonally adjusted basis, the group said yesterday.

Although information suggests economic activity continues to “pick up,” the Federal Open Market Committee said yesterday it will keep “the target range for the federal funds rate at 0% to 0.25% and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.”

NEW YORK – Although information suggest economic activity continues to “pick up,” the Federal Open Market Committee said it will keep “the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.”

NEW YORK - The Institute for Supply Management's non-manufacturing business activity composite index was 50.6 in October, off from 50.9 in September, on a seasonally adjusted basis, the group said today.

NEW YORK – The Treasury Department said today it plans to sell a record $81 billion at its quarterly refunding to raise $42.5 billion.

NEW YORK – Texas voters approved 11 constitutional amendments yesterday, including Proposition 1, which gives towns and counties the right to issue bonds or notes to buy open space near military bases to buffer them from encroaching civilian development, and Proposition 6, which renews a lending program for Texas military veterans by authorizing $2 billion of housing bonds to be issued by the Texas Veterans Land Board.