Full text of G.13 Selected Interest Rates : January 6, 1978

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. %Qf G O w

FEDERAL

Ml

RESERVE

s t a t i s t i c a l

SELECTED INTEREST RATES A N D BOND PRICES
(Yields in per cent per annum) 1/

G .13
Instruments

Federal funds (effective rate)
2/. . . . . . . .
Commercial paper (prime, 90 to 119 days). . . . .
Commercial paper (prime, 4 to 6 raos.) . . . . . .
Finance paper placed directly (3 to 6 m o s . ) . . .
Bankers' acceptances (prime, 90 days) . . . . . .
Prime loan (large business prime rate-majority) .
Discount rate (Federal Reserve Bank of New Y o r k ) .
Yields on U.S. Government securities
3/
Auction Average (Issue date):
6-month bill
. .
1-year bill
. .
Market Yields:
3-month bill
6-month bill
. .
1-year bill
. .
Treasury constant

. . .
. . . . . . . . . .
. . . . . . . . . . . . .

. . . . . .
. . . . . .
maturities

. . . . . . .
. . . . .
4/

5-year
. . . . . . . . . . .
7-year . . . . . . . . . . . . . . . . .
10-year . . .
. . . . . .
.
30-year . . . . . . . . . . . . . . . . .
Coupon issues due in:
5/

r e l e a s e
For Immediate Release
January 6, 1978

Dec. 3
6.55
6.53
6.57
6.50
6.46
7.75
6.00

Weekly
Dec. 10 Dec. 17 Dec. 24 Dec. 31
6.65
6.51
6.54
6.49
6.56
6.62
6.65
6.66
6.60
6.68
6.68
6.64
6.50
6.51
6.54
6:55
t 6.65
6.55
6.57
6.71
7.75
7.75
7.75
7.75
6.00
6.00
6.00
6.00

6.057
6.371

6.049
6.347

6.073
6.371
6.545

5.985
6.338

6.04
6.37
6.49

6.07
6.38
6.52

6.03
6.37
6.50

6.91
7.12
7.22
7.35
7.45
7.56
7.75
7.84

6.94
7.15
7.27
7.44
7.54
7.63
7.81
7.88

6.93
7.15
7.27
7.46
7.56
7.66
7.84
7.91

Monthly
Nov.
6.51

Dec.
b .5b

6.54
6.59
6.49
6.58
7.75
6.00

6.61
6.64
6.52
6.60
7.75
6.00

Year
1977
5.54
5.54
5.60
5.49
5.59
6.83
5.45

6.152
6.460

6.160
6.433

6.063
6.377

5.265
5.510

6.03
6.40
6.53

6.16
6.47
6.57

6.10
6.41
6.52

6.07
6.40
6.52

5.27
5.53
5.71

6.97
7.19
7.33
7.51
7.63
7.73
7.92 7.98

7.01
7.25
7.39
7.57
7.70
7.79
7.99
8.04

6.95
7.14
7.22
7.34
7.46
7.58
7.76
7.85

6.96
7.18
7.30
7.48
7.59
7.69
7.87
7.94

6.09
6.45
6.69
6.99
7.23
7.42
7.67
7.75

6.85
6.89
6.93
6.93
7.01
6.92
6.93
6.07
7.29
7.36
7138 ; 7.43
7.51
7.28
7.40
6.85
7.14
7.18
7.20
10 years or more (long-term)
6/. . . . .
7.26
7.34
7.23
7.14
7.06
56.30
56.00
55.81
54.86
55.43
56.89
56.24
55.62
Price of long-term Treasury bonds <6/7/. . . . . .
8.50
8.61
8.47
8.48
A v e r a g e yields on corporate bonds (Moody's) . . .
8.53
8:57
8.43
8.54
8.08
8.13
8.18
8.19
8.02
8.23
8.28
8.08
8.94
8.95
9.06
8.97
9.02
8.99
8.97
8.95
5.05
5.05
5.00
5.10
5.15
5.20
5.15
5.07
State and local government Aaa (Moody's)
1/ Average of daily figures except for State and local Government, which are based on Thursday figures.
2/ 7-day
average for statement week ended on preceding Wednesday.
3/ Bills quoted on bank discount basis.
4/ Yields on
actively traded issues adjusted to constant m a t u r i t i e s .
Source: U.S. Treasury Department.
5/ Unweighted average
of all issues outstanding.
6/ Bonds neither due nor callable in less than 10 years.
7/ Derived from "long-term"
yields above o n the basis of an assumed 20-year bond with a 3 per cent coupon.




INTEREST RATES
(Yields in per cent per annum)

G.13 continued

Daily
December
1977

Federal
funds

Comm.
paper
90-119
days

3-mo
bill

6-mo
bill

1-yr
bill

1-yr

Treasury constant maturities*
2-yr
3-yr
5-yr
7-yr 10-yr 20-yr 30-yr

U . S . Government Securities

1/
Coupons due in:
3-5 yrs Over 10

1
2

6.52
6.53

6 .53
6 .54

6 .03
6 .02

6.37
6.35

6.49
6.49

6.92
6.90

7.13
7.15

7 .24
7 .25

7.38
7.40

7 .46
7 .50

7.58
7.59

7.76
7.77

7 .85
7 .86

7.29
7.32

7.14
7.15

5
6
7
8
9

6.59
6.56
6.28
6.50
6 50

6 .54
6 .54
6 .56
6 .55
6 .60

6 .01
6 .07
6 .10
6 .08
6 .07

6.35
6.38
6.41
6.39
6.37

6.49
6.51
6.54
6.53
6.51

6.90
6.93
6.97
6.96
6.95

7.15
7.15
7.16
7.16
7.15

7 .25
7 .27
7 .29
7 .27
7 .27

7.40
7.44
7.45
7.46
7.45

7.51
7 .54
7 .55
7 .55
7 .55

7.60
7.63
7.63
7.64
7.63

7.79
7.80
7.83
7.82
7.81

7,.87
7,.88
7..89
7,.90
7.88

7.33
7.35
7.36
7.38
7.38

7.18
7.17
7.18
7.18
7.18

12
13
14
15
16

6.52
6.48
6.44
6.52
6.55

6 .60
6,.62
6,.63
6,.63
6..62

6
6
6
6
5

.07
.05
.05
.01
.99

6.37
6.38
6.37
6.36
6.35

6.52
6.51
6.50
6.48
6.47

6.96
6.94
6.93
6.91
6.93

7.16
7.16
7.16
7.14
7.13

7,.28
7,.28
7,.28
7..27
7,,26

7.4 6
7.46
7.46
7.46
7.44

7,.56
7,.56
7,.57
7..57
7,.56

7.64
7.65
7.66
7.67
7.67

7.82
7.83
7.84
7.86
7.86

7,.89
7,,90
7..91
7..92
7,.93

7.38
7.38
7.38
7.38
7.37

7.18
7.20
7.21
7.21
7.22

19
20
21
22
23

6.56
6.51
6.57
6.57
6.54

6..63
6,.66
6..66
6..67
6..65

5,.95
6,.01
6,.00
6,.11
6..10

6.34
6.37
6.39
6.44
6.44

6.47
6.51
6.52
6.58
6.57

6.92
6.94
6.96
7.02
7.01

7.13
7.14
7.16
7.26
7.24

7..27
7..29
7..30
7..38
7.,39

7.48
7.50
7.48
7.52
7.55

7..60
7,.62
7,.61
7.64
7..66

7.69
7.74
7.72
7.75
7.75

7.88
7.92
7.92
7.93
7.94

7,.95
7..99
7,.98
7..99
8,.00

7.38
7.43
7.41
7.45
7.47

7.23
7.26
7.26
7.27
7.27

26
27
28
29
30

6 .69
7 .10
7,.01
6..53

6
6
6
6

M
.65
.65
.67
.68

A
6.16
6.19
6.17
6.13

R
6 .47
6 .49
6 .49
6 .44

K
6 .57
6 .59
6 .58
6 .53

E
7.01
7.03
7.02
6.98

T
7.25
7.25
7.26
7.22

7.40
7.40
7.40
7.36

C
7.57
7.57
7.58
7.54

L
7.67
7.68
7.77
7.66

0
7.77
7.78
7.82
7.78

S
7.97
7.99
8.00
7.98

E
8.02
8.05
8.06
8.03

D
7.49
7.51
7.52
7.50

1/
*

Bills quoted on a bank discount basis.
(Weekly
The following are revised numbers for early November.
1-yr
2-yr
3-yr
7.05
7.23
7.33
Nov. 1
7.06
7.24
7.33
Nov. 2




averages are not affected.)
5-yr
7-yr 10-yr 20-yr 30-yr
7.47
7.57
7.63
7.80
7.86
7.47
7.58
7.69
7.82
7.89