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......... ~ U. • S- — u EJE D E R A L ## ' '\ • " • ffiAL tU ^ • • G.14 V Period 1964 - December 1 2 3 4 5 7 8 9 10 11 12 14 15 16 17 18 19 , R E S E R V E - 21 22 23 24 25 26 - 28 29 30 31 Auction average 3-month 6-month bills V ' bills 3.868 4.030 Closed 3.815 3.868 Closed Closed 3.867 U. S. GOVERNMENT SECURITY YIELDS AND PRICES (Yields i n p e r c e n t p e r annum) U. S . Government S e c u r i t y Y i e l d s Bank d i s c o u n t r a t e * Other i s s u e s 1-year 6-month due in 9-12 3-month bills bills months 1/ bills 4.07 4.01 4.09 3.85 4.01 4.06 3.97 3.84 3.97 3.93 4.00, 3.79 3.97 3.93 3.99 3.78 I s s u e s , due in 3 to 5 v e a r s 2/ 4.14 . 4.11 4.08 4.08 - LongTerm Bonds 3/ 4.16 4.15 4.14 4.14 Price, longterm bonds 4 / 84.36 84.48 84.60 84.60 3.96 3.97 3.97 3.95 3.95 3.99 3.98 3.98 3.94 3.94 4.06 4.06 4.06 4.06 4.06 4.13 4.12 4.12 4.12 4.11 84.72 84.85 84,85 84.85 84.97 3.84 3.85 3.87 3.87 3.86 3.95 3.95 3.96 3.95 3.94 3.95 3.94 3.94 3.94 3.94 3.92 3.92 3.92 3.92 3.94 4.07 4.06 4.06 4.05 4.06 4.12 4.12 4.12 4.13 4.14 84.85 84.85 84.85 84.72 84.60 3.960 3.86 3.86 3.86 3.86 3.94 3. 94 „ 3.95 3.95 3.94 3.94 3.94 3.95 3.95 3.95 3.95 3.95 4.07 4.06 4.07 4.07 4.14 4.14 4.14 4.14 84. 60' . 84.60 84.60 84. 60 3.957 3.85 3.82 3.84 3.82 3.94 3.93 3.93 3.92 3.94 3.93 3.93 3.93 3.96 3.96 3.94 3.81 4.08 4.07 4.06 4.08 4.15 4.15 4.16 4.16 84.48 84.48 84.36 84.36 3.965 % Closed "" 3.93 3.94 3.95 3.94 3.94 Closed - ' release 3.76 3.80 3.84 3.83 3.82 3.944 3.864 statistical ; ' . GOVERNMENT SECURITY YIELDS AND PRICES ( Y i e l d s i n p e r c e n t p e r annum) (continued) Auction average 3-month 6-month bills bills Period U. S. Government S e c u r i t y Y i e l d s Bank d i s c o u n t r a t e * Other i s s u e s 3-month 6-month 1-year due i n 9|rl2 bills bills bills months 1/ Weekly a v e r a g e : 1964 - Dec. 5 12 19 26 1965 - J a n . 2 3.868 3.815 3.864 3.868 3.867 4.030 3.944 3.965 3.960 3.957 3.82 3.81 3.86 3.86 . 3.83 Monthly a v e r a g e : 1964-December 1963-December 3.856 3.523 3.971 3.667 3.84 3.52 Annual a v e r a g e : 1964 1963 3.549 3.157 3.686 3.253 3.54 3.16 Note: 3.97 3.94 3.95 3.94 3.93 ^ I s s u e s , due in 3 to 5 y e a r s 2/ LongTerm Bonds 3/ -v Pric long term bonds 1 4.02 3.96 3.94 3.94 3.93 4.04 3.97 3.92 3.95 3.92 4.11 4.06 4.06 4.07 4.07 4.15 4.12 4.13 4.14 4.16 3.94 3.66 3.96 3.69 3.96 3.77 4. 07 4.04 4.14 4.14 84. 65 84.64 3.68 3.25 3.74 3.30 3.76 3.28 4.06 3. 72 4.15 4.00 84.46 86.31 " , 84.50 84.8% 84. 7> 84.60 84.42 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 t h e F e d e r a l R e s e r v e Bank of New York on t h e b a s i s of c l o s i n g b i d p r i c e 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 . Formerly shown a s m a r k e t yle I d . 1 / C u r r e n t l y i n c l u d e s t h e 3 - 1 / 2 p e r c e n t n o t e of November 15, 1965, and t h e 4 p e r c e n t n o t e of November 15, 1965. 2J C u r r e n t l y i n c l u d e s t h e f o l l o w i n g n o t e s and b o n d s : 3 7 / 8 p e r c e n t bond of 5 / 1 5 / 6 8 3 3 / 4 p e r c e n t bond of 8 / 1 5 / 6 8 3 7 / 8 p e r c e n t bond of 1 1 / 1 5 / 6 8 • 5 / C u r r e n t l y i n c l u d e s t h e f o l l o w i n g bonds due or 4 1 / 4 p e r c e n t of 1975-85 3 1/2 .3 1 / 4 p e r c e n t of 1978-83 3 1/4 4 p e r c e n t of 1980 3 1/2 4 / Pric:; callable per cent per cent per cent 4 p e r c e n t bond of 2 / 1 5 / 6 9 4 p e r c e n t bond of 1 0 / 1 / 6 9 in of of of t e n y e a r s o r more: 1980 4 1/4 p e r c e n t of 1987-92 1985 4 p e r c e n t of 1988-93 1990 4 1 / 8 p e r c e n t of 1989-94 3 p e r , c e n t of 1995 3 1 / 2 p e r c e n t of V98 j r i v e d from a v e r a g e m a r k e t y i e l d s on b a s i s of an assumed 3 p e r c e n t , 2 0 - y e a r bond. GOVERNMENT FINANCE SECTION, FEDERAL RESERVE BOARD J a n u a r y 11, 1965
@FedFRASER