Econoday RSS Generator fidweek.econoday.com/getrss.asp?cust=mam Econoday Economic News en webmaster@econoday.com ©2012 Econoday Thu, 17 May 2012 10:25:00 GMT http://www.econoday.com/graphics/nav/home_big3.jpg http://www.econoday.com/ Econoday Highlights
A convincing move lower for initial claims would seal early expectations for a strong May employment report. ]]> info@econoday.com Thu, 17 May 2012 GMT Econoday Definition
Settlement is also called issuance. In general for securities, the settlement date is the date by which an executed securities transaction must be settled, with the buyer paying for the purchase and the seller delivering the asset that was sold. For Treasury securities, on settlement day, the Treasury delivers securities to bidders who were successfully awarded securities in a particular auction. In exchange, Treasury charges the accounts of those bidders for payment of the securities. Please check auctions of individual securities for more details. ]]> info@econoday.com Thu, 17 May 2012 GMT Econoday ]]> info@econoday.com Thu, 17 May 2012 GMT Econoday PreviousConsensusConsensus RangeActualNew Claims - Level367 K365 K360 K to 375 K370 K4-week Moving Average - Level379.00 K375.00 KNew Claims - Change-1 K0 K
Highlights
For the third week in a row, initial claims held at improved levels. Initial claims are unchanged in the May 12 week at 370,000. The May 5 week, which is revised slightly upward, is also at 370,000 while the week before that, the April 28 week, is at 368,000. It is the April 28 week that, after several prior weeks near 400,000, marks a return to the prior trend of 360,000 and 370,000 levels.

The four-week average is down sizably for a second week, down 4,750 to 375,000. This is about the same level as the average was in mid April. Lack of change here points to little change for the monthly employment report which for April was a disappointment.

Continuing claims have been trending strongly lower though the latest data show a small rise to 3.265 million. But the four-week average is down slightly to 3.283 million with the unemployment rate for insured workers holding at a recovery low of 2.6 percent.

There are no special factors distorting the data. Though claims aren't breaking lower, the good news is that they are holding steady. ]]> info@econoday.com Thu, 17 May 2012 12:30:00 GMT Econoday PreviousActualLevel-40.4 -43.6 
Highlights
Consumer confidence dropped last week to the lowest level since the end of January as slower U.S. job growth contributed to pessimism about personal finances and spending.

The Bloomberg Consumer Comfort Index fell in the week ended May 13 to minus 43.6 from minus 40.4 in the previous period.

All three of the Bloomberg Consumer Comfort Index's components declined last week. The gauge of personal finances fell to minus 12.9, the fourth straight drop and the weakest reading since November, from minus 11.2 in the prior week. A measure of whether consumers consider it a good or bad time to buy decreased to minus 48.2, a three-month low, from minus 45.8. Americans' views on the state of the economy fell to a 10-week low of minus 69.6 from minus 64.2.
]]> info@econoday.com Thu, 17 May 2012 13:45:00 GMT Econoday PreviousConsensusConsensus RangeActualGeneral Business Conditions Index - Level8.5 10.0 5.0  to 13.0 -5.8 
Highlights
In an unfortunate and stark contrast to the Empire State report, the regional manufacturing report from the Philly Fed points to contraction this month. The business activity index is negative, at minus 5.8 vs plus 8.5 in April. New orders are in the negative ground as is employment. Delivery times shortened dramatically to indicate slowing activity in the supply chain. Inventory accumulation slowed, unfilled orders contracted deeply, and optimism in the six-month outlook is down noticeably. Price readings also point to easing demand, with input costs little changed and prices received contracting.

One positive in the report is the shipment index which shows a slight monthly increase underway. But otherwise this report is filled with negatives, which again are readings that point, not to slowing, but to an actual step backwards. But this is just one report and hopefully the weakness will be brief and isolated to the Mid-Atlantic area. The contrast between this report and Tuesday's mostly strong Empire State report puts special focus on the next regional manufacturing survey, that is next week's report on Tuesday from the Richmond Fed. ]]> info@econoday.com Thu, 17 May 2012 14:00:00 GMT Econoday PreviousActualE-Sales Q/Q Change SAAR5.8 %3.1 % ]]> info@econoday.com Thu, 17 May 2012 14:00:00 GMT Econoday PreviousConsensusConsensus RangeActualLeading Indicators - M/M change0.3 %0.1 %0.0 % to 0.3 %-0.1 % ]]> info@econoday.com Thu, 17 May 2012 14:00:00 GMT Econoday Definition
The Energy Information Administration (EIA) provides weekly information on natural gas stocks in underground storage for the U.S., and three regions of the country. The level of inventories helps determine prices for natural gas products. ]]> info@econoday.com Thu, 17 May 2012 14:30:00 GMT Econoday Definition
Treasury bills are sold at public auctions every week. The 3-month bill is also known as the 13-week bill. Competitive bids at these auctions determine the interest rate paid on each issue. A group of securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold the bills, resell the bills to their clients or trade them with other securities firms. Typically, the New York Fed approves about 20 securities firms to be primary dealers but that number dropped sharply during the recent financial crisis as some were merged into other firms or went bankrupt. The Fed has been rebuilding that number regularly and the latest list can be found here: http://www.newyorkfed.org/markets/pridealers_current.html Since these are public auctions, the Treasury must announce the size, date and time of the auction every week. Three-month bills are announced on Thursday for auction the following Monday and are issued (settled) on Thursday. If a Monday is a banking holiday, the bills are auctioned on Tuesday. (Department of the Treasury) ]]> info@econoday.com Thu, 17 May 2012 15:00:00 GMT Econoday Definition
Treasury bills are sold at public auctions every week. The 6-month bill is also known as the 26- week bill. Competitive bids at these auctions determine the interest rate paid on each issue. A group of securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold the bills, resell the bills to their clients or trade them with other securities firms. Typically, the New York Fed approves about 20 securities firms to be primary dealers but that number dropped sharply during the recent financial crisis as some were merged into other firms or went bankrupt. The Fed has been rebuilding that number regularly and the latest list can be found here: http://www.newyorkfed.org/markets/pridealers_current.html Since these are public auctions, the Treasury must announce the size, date and time of the auction every week. Six-month bills are announced on Thursday for auction the following Monday and issued (settled) on Thursday. If a Monday is a banking holiday, the bills are auctioned on Tuesday. (Department of the Treasury) ]]> info@econoday.com Thu, 17 May 2012 15:00:00 GMT Econoday Definition
Treasury notes are sold at regularly scheduled public auctions. The competitive bids at these auctions determine the interest rate paid on each Treasury note issue. A group of securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold the bills, resell the bills to their clients or trade them with other securities firms. Typically, the New York Fed approves about 20 securities firms to be primary dealers but that number dropped sharply during the recent financial crisis as some were merged into other firms or went bankrupt. The Fed has been rebuilding that number regularly and the latest list can be found here: http://www.newyorkfed.org/markets/pridealers_current.html (Department of the Treasury) ]]> info@econoday.com Thu, 17 May 2012 15:00:00 GMT Econoday Definition
Treasury notes are sold at regularly scheduled public auctions. The competitive bids at these auctions determine the interest rate paid on each Treasury note issue. A group of securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold the bills, resell the bills to their clients or trade them with other securities firms. Typically, the New York Fed approves about 20 securities firms to be primary dealers but that number dropped sharply during the recent financial crisis as some were merged into other firms or went bankrupt. The Fed has been rebuilding that number regularly and the latest list can be found here: http://www.newyorkfed.org/markets/pridealers_current.html The Treasury announces the amount, date and time of the 5-year note auction monthly. The 5-year notes are announced around the third week of the month (usually on Thursday) and then auctioned the following week. In all cases, the 5-year notes are issued (settled) on the last day of the month, unless it falls on a weekend or holiday, and then they are issued on the next business day. (Department of the Treasury) ]]> info@econoday.com Thu, 17 May 2012 15:00:00 GMT Econoday Definition
Treasury notes are sold at regularly scheduled public auctions. The competitive bids at these auctions determine the interest rate paid on each Treasury note issue. A group of securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold the bills, resell the bills to their clients or trade them with other securities firms. Typically, the New York Fed approves about 20 securities firms to be primary dealers but that number dropped sharply during the recent financial crisis as some were merged into other firms or went bankrupt. The Fed has been rebuilding that number regularly and the latest list can be found here: http://www.newyorkfed.org/markets/pridealers_current.html The Treasury announces the amount, date and time of the 7-year note auction monthly. The 7-year notes are announced around the third week of the month (usually on Thursday) and then auctioned the following week. In all cases, the 7-year notes are issued (settled) on the last day of the month, unless it falls on a weekend or holiday, and then they are issued on the next business day. (Department of the Treasury) ]]> info@econoday.com Thu, 17 May 2012 15:00:00 GMT Econoday ]]> info@econoday.com Thu, 17 May 2012 16:35:00 GMT Econoday Definition
The Treasury sells inflation-indexed securities, also known as TIPS, at regularly scheduled auctions. Competitive bids at these single-price auctions determine the interest rate paid on each issue, which remains fixed. A group of securities dealers, known as primary dealers, are authorized and obligated to submit competitive tenders at Treasury auctions. Dealers can hold the bills, resell the bills to their clients or trade them with other securities firms. Typically, the New York Fed approves about 20 securities firms to be primary dealers but that number dropped sharply during the recent financial crisis as some were merged into other firms or went bankrupt. The Fed has been rebuilding that number regularly and the latest list can be found here: http://www.newyorkfed.org/markets/pridealers_current.html The Treasury announces the amount, date and time of the 10-year TIPS auction four times a year: January, April, July and October. The 10-year TIPS are usually announced at the beginning of January and July. The April and October announcement calls for a reopening of the previously issued security. In each of the aforementioned months, 10-year TIPS are auctioned in the second week of the month. These TIPS are issued on the 15th of the month; if it falls on a weekend or holiday, then they are issued (settled) on the next business day. ]]> info@econoday.com Thu, 17 May 2012 17:00:00 GMT Econoday Definition
The Fed's balance sheet is a report showing factors supplying reserves into the banking system and factors absorbing (using) reserve funds. Essentially, the balance sheet shows the various Fed programs for injecting liquidity into the economy and how much the Fed has used each for adding or withdrawing reserves. This report is called Factors Affecting Reserve Balances - or the "H.4.1" report using Fed jargon. ]]> info@econoday.com Thu, 17 May 2012 20:30:00 GMT Econoday Definition
The monetary aggregates are alternative measures of the money supply by degree of liquidity. Changes in the monetary aggregates indicate the thrust of monetary policy as well as the outlook for economic activity and inflationary pressures. ]]> info@econoday.com Thu, 17 May 2012 20:30:00 GMT