Gary Siegel

NEW YORK - The Treasury Department auctioned $40 billion of five-year notes, with a 2 3/8% coupon, a 2.470% high yield, a price of 99.555732.

The Treasury Department yesterday auctioned $43 billion of two-year notes with a 1% coupon at a 1.034% yield, a price of 99.932870. The bid-to-cover ratio was 3.23. Tenders at the high yield were allotted 27.16%. The median yield was 0.990%. The low yield was 0.920%. Tenders totaled $138,839,628,500 and Treasury accepted $43,000,008,000, including $433,978,000 of noncompetitive.

The Federal Reserve yesterday announced the results of its term-auction facility, selling $55.763 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. The bid-to-cover ratio was 0.74. The average bid of the 83 bidders was $672 million.

“Manufacturing activity in the central Atlantic region expanded for the fifth straight month in September,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond and released yesterday.

NEW YORK - The Treasury Department today auctioned $43 billion of two-year notes with a 1% coupon at a 1.034% yield, a price of 99.932870.

NEW YORK - The Treasury Department today auctioned $27 billion of one-year bills at a 0.405% high yield, a price of 99.590500.

NEW YORK - The Treasury Department today auctioned $16 billion of four-week bills at a 0.040% high yield, a price of 99.996889.

NEW YORK – “Manufacturing activity in the central Atlantic region expanded for the fifth straight month in September,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. “All broad indicators — shipments, new orders and employment — landed in positive territory, with manufacturers noting their first increase in worker numbers since December 2007. Other indicators were mixed, however. Capacity utilization grew more slowly, while backlogs and vendor delivery times shrank. In addition, manufacturers reported slower growth in inventories.”

NEW YORK – “Service sector activity remained soft in September,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released today, “The ongoing decline in retail sales slowed this month, and shopper traffic was down only slightly compared to a month earlier. In contrast, revenues dropped sharply at services firms. However, survey respondents remained optimistic about demand for their products and services over the next six months.”

NEW YORK – The Federal Reserve today announced the results of its term auction facility, selling $55.763 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.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.100% high rate, down from 0.135% the prior week, and the six-months incurred a 0.190% high rate, off from 0.210% the week before.

The composite index of leading economic indicators gained 0.6% in August, the Conference Board reported yesterday.

The Federal Reserve said yesterday it set a 0.25% minimum bid on its $75 billion 28-day term auction facility credit. The credit matures Oct. 22.

Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.100% high rate, down from 0.135% the prior week, and the six-months incurred a 0.190% high rate, off from 0.210% the week before.

The composite index of leading economic indicators gained 0.6% in August, the Conference Board reported yesterday.

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 0.100% high rate, down from 0.135% the prior week, and the six-months incurred a 0.190% high rate, off from 0.210% the week before.

NEW YORK - The Treasury Department said it will sell $16 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.

NEW YORK - The composite index of Leading Economic Indicators gained 0.6% in August, the Conference Board reported today.

“The region’s manufacturing sector is showing signs of growth,” as the general business conditions index increased to 14.1 in September from 4.2 in August, according to this month’s Federal Reserve Bank of Philadelphia Report on Business.