Wholesale Trade Inventories +0.6%
(Econoday.com) - Wholesale trade inventories rose 0.6 percent in December after rising 0.5 percent in the previous month and now stand 2 percent higher than a year ago. Inventories for durable goods were up 0.9 percent in December, but only 1.3 percent higher than a year ago. In contrast, nondurable goods inventories rose 0.1 percent in December, but were 3.1 percent higher than last year. At the same time, wholesale trade sales rose 1 percent in December and are 8 percent higher than a year ago. Thus, despite the steady gains in inventories, the inventory-to-sales ratio decreased to 1.17 in December 2003 from 1.24 in December 2002. The strength in sales suggests that inventories could pick up pace and this would bode well for production in coming months.
3-Month Bill Treasury Rate 0.920%
(Econoday.com) - The 3-month bill rate was unchanged in Monday's auction at 0.920 percent, reflecting steady expectations for short-term interest rates. Following Friday's weak employment report, there appears to be no risk that the Federal Reserve will begin raising rates over the next three months. The bid-to-cover was strong at 2.27 vs. 2.30 last week.
6-Month Bill Treasury Rate 0.990%
(Econoday.com) - The 6-month bill rate inched 1 basis point lower in the latest week, at 0.990 percent. The bid-to-cover was extremely strong at 2.47 vs. 2.12 last week. The results reflect steady expectations for short-term interest rates. In fact, the 1 basis point decline in the week is consistent with a reduced risk of Federal Reserve tightening over the next six months.
04.02.09 11:08 #