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mmiiim.
U.S. GOVERNMENT SECURITY YIELDS AND PRICES
(Yields in per cent per annum)

Auction average
3-month
6-month
bills
bills

Period
1974 - Dec.

2
3
4
5
7.524
6
7 CLOSED

7.564

9

10
11
12
13
14
16
17
18
19
20

7.172

7.058

6.911

6.858

21 CLOSED
23
24
25 CLOSED
-26 6.963
27
28
30
31




7.032

U.S. Government security yields
Market yield*
Other issues Issues, due
3-month
6-month
1-year
due in 9-12
in 3 to
bills
bills
bills
months 1/
5 years 2/
7.31
7.52
7.28
7.76"
7.52,
7.53
7.40
7.16
7.73
,7.53
7.47
7.25
7.11
7.63
7.48
7.48
7.26
7.12
7.61
7.42
7.42
7.25
7.08
7.53
7.37

Longterm
bonds 3/

Price of
longterm
bonds 4/

6.91
6.94
6.90
6.87
6.85

57.96
57.73
58.03
58.26
58.41

7.24
7.15
7.12
7.38
7.31

7.03
6.98
6.92
7.18
7.09

6.85
6.90
6.78
6.75
6.69

7-25
7.32
7.23
7.26
7.26

7.16
7.19
7.14
7.16
7.13

6.75
6.76
6.74
6.74
6.74

59.17
59.09
59.25
59.25
59.25

7.14
6.77
6*81
6.89
6.97

6.96
6.90
6.94
7.04
7.11

6.59
6.57
6.57
6.55
6.54

7.22
7.16
7.12
7.17
7.15

7.12 "
7.08
7.02
7.02
7.04

6.73
6.71
6.69
6.69

59.33
59.48
59.64
59.72
59.64

7.13
6.98

7.19
7.08

6.69
6.66

7.29
7.28

7.19
7.19

6.78
6.78

58.94
58.94

6.95
6.96

7.08
7.09

6.67

6.66

7.214
7.24

7.14
7.16

6.77
6.76

59.02
59.09

7.11
7.06

7.08
7.05

6.70
6.74

7.26
7.14

7.22

6.76
6.78

59.09
58.94

7.27

6.68

U.S., GOVERNMENT SECURITY YIELDS AND PRICES
(Yields in per cent per annum)

Continued
G.14
/—

t

Auction average
6-month
3-month
bills
bills

Period

U.S. Government security yields
Market yield*
Other issues
3-month
6-month
1-year
due in 9-12
bills
bills
months 1/
bills

Week ending:
1974 - Dec.
7
14
21
28

7.524
7.172
7.058
6.963

7.564
6.911
6.858
7.032

7.44
7.24
6.92
7.01

7.34
7.04
6.99
7.11

7.15
6.79
' 6.56
6.67

Month ending: \
1974 - December
1973 - December

7.179
7.364

7.091
7.444

7.15
7.45

7.11
7.56

Annual Average:
1974
1973

7.886
7.041

7.926
7.178

7.84
7.03

7.95
7.20

NOTE:

1*8sue due Longin 3 to
term
5 vears 2/ bonds 3/

Price of
longterm
bonds 4/

X 7.65
7.26
7.16
7.26

7.46
7.16
7.06
7.17

6.89
6.75
6.70
6.77

58.08
59.20
59.56
59.00

6.79
7.01

7.33
7.38

7.22
6.80

6.78
6.35

58.96
62.37

7.71
7.01

8.25
7.30

7.81
6.92

6.99
6.30

57.45
62.80

N

Yields are averages of those computed by the Federal Reserve Bank of New York on the basis of closing
bid prices. Yields on Treasury bills are computed on a bank discount basis.

1/

includes
the 8-3/8 per cent note of September 30, 1975 thru December 30, the 7 per cent note of
November 15, 1975, and beginning December 31 the 7 per cent note of December 31, 1975.

2/

Currently
6-1/4 per
8-3/4 per
6
per
7-7/8 per

includes the following notes:
cent of 2/15/78
cent of 8/15/78
cent of 11/15/78
cent of 5/15/79

r
6-1/4 per cent of 8/15/79
6-5/8 per cent of 11/15/79
7
per cent of 11/15/79

3/

Curently includes
3-1/4 per cent of
6-1/8 per cent of
3-1/2 per cent of
4-1/4 per cent of
4
per cent of
6-3/4 per cent of

the following bonds due or callable in
1985
7-1/2
1986
4-1/8
1990
3
1987-92
7
1988-93
3-1/2
1993
8-1/2

4/

Prices derived fropi average market yields on the basis of an assumed


GOVERNMENT FINANCE


SECTION, FEDERAL RESERVE BOARD

10 years
per cent
per cent
per cent
per cent
per cent
per cent

or
of
of
of
of
of
of

more:
1988-93
1989-94
1995
1993-98
1998
1994-99
3 per cent, 20-year bond.
JANUARY 9, 1975