BUSINESS NOTES SHORT-TERM T-BILLS HAVE A MIXED DAY.WASHINGTON - Interest rates on short-term Treasury securities were mixed in Tuesday's auction. The Treasury Department sold $12.5 billion in three-month bills at a discount rate of 5.700 percent, unchanged from last week. Last week's rate was the lowest since June 26 when the rate was 5.680 percent. An additional $10.5 billion was sold in six-month bills at a rate of 5.360 percent, down from 5.500 percent. The six-month rate was the lowest since Dec. 6, 1999, when the rate was 5.290 percent. The new discount rates understate un·der·state v. un·der·stat·ed, un·der·stat·ing, un·der·states v.tr. 1. To state with less completeness or truth than seems warranted by the facts. 2. the actual return to investors - 5.864 percent for three-month bills with a $10,000 bill selling for $9,855.90 and 5.586 percent for a six-month bill selling for $9,729. In a separate report, the Federal Reserve said Tuesday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , fell to 5.34 percent last week from 5.44 percent the previous week. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Dot-com price tag high for Sitestar ENCINO - Internet holding company Sitestar Corp. has withdrawn its offer to acquire fashionmall.com because rivals had raised the bidding price for the site to an unacceptable level. Encino-based Sitestar said they were surprised by the rival bids and had no plans to raise its bid to meet those of the other companies. - Daily News Purchasing index dips, agency says NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Manufacturing activity fell to its lowest level in nearly a decade, an industry group reported Tuesday, raising further questions about the health of the U.S. economy. The NAPM NAPM National Association of Purchasing Management NAPM National Association of Pharmaceutical Manufacturers NAPM National Academy of Popular Music NAPM National Association of Photographic Manufacturers NAPM National Association of Punch Manufacturers said its purchasing index dropped to 43.7 percent in December, down from the 47.7 percent it reported in November. The December reading was significantly lower than the 47.0 percent reading analysts had anticipated. Economists said the December numbers from the National Association of Purchasing Management will likely ratchet up pressure on the Federal Reserve to cut interest rates. - Associated Press Gas futures drop after new forecast Natural gas futures plummeted 14 percent Tuesday on signs Americans will get at least a temporary reprieve from the arctic cold that socked much of the nation in December and sent heating demand soaring. Forecasts for a warming trend in the Midwest and Northeast eased concerns that natural-gas supplies might run out if the unusually cold weather persisted all winter. - Associated Press Apple cuts prices of Mac computers CUPERTINO - Apple Computer Inc. has slashed prices by as much as $1,100 on some Macintosh computers to clear an inventory glut glut pronounced as rut, slut Vox populi An excess of a service or skilled labor in a particular area. See Physician glut. caused by sluggish holiday sales and to make room for new systems expected to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. next week. The price cuts that took effect New Year's Day New Year's Day, among ancient peoples the first day of the year frequently corresponded to the vernal or autumnal equinox, or to the summer or winter solstice. In the Middle Ages it was celebrated among Christians usually on Mar. 25. apply to the company's higher-end machines. - Associated Press |
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