Gary Siegel

NEW YORK – “Service sector activity slumped in October,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “Retail sales dropped as shopper traffic diminished and big-ticket sales declined. Inventories also fell, although reductions were less pervasive than a month ago. Services firms' revenues also contracted in October. Looking ahead, survey respondents scaled back their expectations for business opportunities in the next six months.”

NEW YORK – “Manufacturing activity in the central Atlantic region expanded for the sixth straight month but at a more moderate pace in October,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “All broad indicators — shipments, new orders and employment — continued to grow but at a rate below September's pace. Other indicators were mixed, however. Capacity utilization continued to grow more slowly, while backlogs fell further into negative territory. Vendor delivery times were virtually unchanged, while manufacturers reported slower growth in finished goods inventories.”

NEW YORK - The consumer confidence index slipped to 47.7 in October from an upwardly revised 53.4 last month, The Conference Board reported this morning.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were mixed yesterday, as the three-month bills incurred a 0.075% high rate, down from 0.080% the previous week, and the six-months incurred a 0.185% high rate, up from 0.170% the prior week.

Factory activity declined in October, according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, which was released yesterday.

The Chicago Fed Midwest manufacturing index climbed 1.0% in September to a seasonally adjusted level of 82.3 after the August report showed a revised 1.6% increase to 81.6, the Federal Reserve Bank of Chicago reported yesterday. The August report originally reported a 0.3% drop to 80.1

The Chicago Fed national activity index for September widened to negative 0.81 from a revised negative 0.65 reading in August, originally reported as negative 0.90.

NEW YORK - The Chicago Fed Midwest Manufacturing Index climbed 1.0% in September to a seasonally adjusted level of 82.3 after the August report showed a revised 1.6% increase to 81.6, originally reported as a 0.3% drop to 80.1, the Federal Reserve Bank of Chicago reported today.

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 0.075% high rate, down from 0.080% the prior week, and the six-months incurred a 0.185% high rate, up from 0.170% the week before.

NEW YORK - The Treasury Department said it will auction $25 billion 300-day cash management bills on Wednesday, Oct. 28.

NEW YORK - The Treasury Department said it will sell $28 billion of four-week discount bills tomorrow.

NEW YORK - The Chicago Fed National Activity Index for September widened to negative 0.81 from a revised negative 0.65 reading in August, originally reported as negative 0.90.

While “financial conditions have improved considerably” and no complete collapse occurred, the severe fallout from the financial crisis should prompt policymakers “to take action to reduce the probability and severity of any future crises,” Federal Reserve Board chairman Ben S. Bernanke said Friday.

NEW YORK – While “financial conditions have improved considerably,” and no global financial collapse occurred, the severe fallout from the financial crisis should prompt policymakers “to take action to reduce the probability and severity of any future crises,” Federal Reserve Board Chairman Ben S. Bernanke said today.

The composite index of leading economic indicators gained 1.0% in September, its sixth straight gain, the Conference Board reported yesterday.

NEW YORK - The Treasury Department said it will auction $31 billion seven-year notes on Thursday, Oct. 29.

NEW YORK - The Treasury Department said today it will auction $29 billion 91-day bills and $30 billion 182-day discount bills Monday.

NEW YORK - The Treasury Department said it will auction $41 billion five-year notes on Wednesday, Oct. 28 and $44 billion two-year notes on Tuesday, Oct. 27.

NEW YORK - The composite index of Leading Economic Indicators gained 1.0% in September, its sixth straight gain. the Conference Board reported today.

Financial system reform must address not only the systemic risks, but also the too-big-to-fail dilemma, Federal Reserve Board governor Daniel K. Tarullo said.