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. Oof c ov/ •. FEDERAL Wi6 G.14 ' V^ \ X ^A.uc-trtbn average 3-month 6-month bills bills Periods 1973 - J u l y 2 3 4 5 6 7 ' 9 10 11 12 13 14 16 17 ' 18 19 20 21 23 24 25 26 . 27 28 30 31 CLOSED 7.987 8.011 RESERVE .,•< U . S . GOVERNMENT SECURITY YIELDS AND PRICES ( Y i e l d s i n per c e n t per annum) - U . S . Government s e c u r i t y y i e l d s Market y i e l d * Other i s s u e s 3-month 6-month 1-year due in 9 - 1 2 bills bills bills months 1/ 7.90 7.99 7.87 7.90 7.98 7.94 7.64 7.90 7.95 7.92 7.90 7.96 7.65 7.68 7.92 7 .89 7.68 7.63 7.78 7.98 7.89 7.79 7.76 7.90 7.71 7.64 7.59 - 7.58 7.71 8.019 7.85 7.96^ 8.03 8.13 8.17 7.92 8.07 8.13 8.34 8.40 8.03 8.18 8.17 8.23 8.25 8.23 8.32 7.14 7.19 6.42 6.43 61.78 61.70 8.-11 8.09 7.99 8,07 8.19, 7.31 7.26 7.26 7.29 7.34 6.44 6.42 6.42 6.42 6.44 61.62 61.78 61.78 61.78 61.62 7.77 7.80 7.89 8.10 8,29 8.26 8.28 8.35 8.58 7.37 7.39 7.43 7.56 7.66 6.46 . 6.4,7 6.48 6 . 53 6.55 61.46 61.38 61.30 60.90 60.74 8.25 8.32 8.33 8.37 8.47 8.16 8.26 8.38 8.41 8.49 8.60 8.66 8.73 8.78 8.90 7.64 7.69 7.71 7.86 7.92 6.57 6.57 6.58 6.69 6.79 60.58 60.58 60.50 59.64 58.87 8.43 8.40 8.45 8.37 8.93 8.92 7.93 7.99 6.81 6.84 58.71 58.49 CLOSED 7.967 8.023 CLOSED 8.114 8.272 CLOSED P r i c e of longterm bonds 4 / 61.54 61.54 Longterm bonds 3/ 6.45 6.45 7.99 8.03 CLOSED 7.991 I s s u e s , due in 3 to 5 y e a r s 2/ 7.12 7.15 • . . 517 conL inued C.14 U.S. GOVERNMENT SECURITY YIELDS AND PRICES ( Y i e l d s i n per c e n t per annum) Auction average 3-month 6-month bills bills Per i ods Week e n d i n g : 1973 - J u l y 7 14 21 28 ! ' 1 1 ! Month e n d i n g : 1973 - J u l y 1972 - J u l y Note: J_/ 2/ 4/ 3-month bills 7.987 7.991 7.967 8.114 8.011 ' 8.019 8.023 8.272 7.94 7.78 8.03 8.17 8.015 4.059 8.081 4.583 8.01 3.98 Market y i e l d * 6-month bills bills *• Other issues due in 9-12 months 1/ 7.95 7.86 8.17 "8.35 7.71 7.65 7.97 8.34 ! 1 ! 8.12 4.50 7.97 4.90 j i 7 96 8-09 8.40 8-73 ' I s s u e s , due Longi n 3 to ' term years V bonds l / j : 8-37 4.89 | i Longterm hnnHc /,/ 7.15 7.29 7.48 7.76 ' ' 6.44 6.43 6.50 6.64 61.64 61.72 61.16 60.0 3 7.49 5.86 '.6.53 5.57 60.87 69.23 | Y i e l d s a r e a v e r a g e s of t h o s e computed by the F e d e r a l Reserve Bank of New York on t h e b a s i s of c l o s i n g bid p r i c e s , ^ y i e l d s on T r e a s u r y b i l l s a r e computed on a bank d i s c o u n t b a s i s . I n c l u d e s the 4 - 1 / 4 per c e n t bond of May 15, 1974 and the 7 - 1 / 4 per c e n t n o t e of May 15, 1974. Currently 6 - 1 / 2 per 7 - 1 / 2 per 6 - 1 / 4 per includes c e n t of c e n t of c e n t of the"following notes: 8/15/76 8/15/76 11/15/76 Currently 6 - 3 / 8 per 3 - 1 / 4 per 6 - 1 / 8 per 3 - 1 / 2 per 4 - 1 / 4 per includes c e n t of c e n t of c e n t of c e n t of c e n t of the f o l l o w i n g bonds due or c a l l a b l e in 10 y e a r s 1984 4 1985 6-3/4 1986 4-1/8 1990 3 1987-92 7 3-1/2 Prices derived 8 per c e n t of 2 / 1 5 / 7 7 7 - 3 / 4 per c e n t of 8 / 1 5 / 7 7 6 - 1 / 4 per c e n t of 2 / 1 5 / 7 8 or per per per per per per cent cent cent cent cent cent of of of of of of 1988-93 1993 1989-94 1995 1993-98 199H from a v e r a g e market y i e l d s on t h e b a s i s of an assumed 3 per c e n t , 2 0 - y e a r bond. GOVERNMENT FINANCE SECTION, FEDERAL RESERVE BOARD August 3, 1973