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DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNOR# H. 13 No. 221 November 10, 1965 CAPITAL MARKET DEVELOPMENTS ABROAD I. II. I. Nine Charts on Financial Markets Abroad Latest Figures Plotted in H. 13 Chart Series, 1965 Nine Charts on Financial Markets Abroad Chart 1 - International Money Market Yields for U.S. Dollar Investors Chart 2 - Interest Arbitrage, United States/Cancda Chart 3 - Interest Arbitrage, New York/London Chart 4 - Interest Arbitrage for German Commercial Banks Chart 5 - Short-term Interest Rates Chart 6 - Long-term Bond Yields Chart 7 - Industrial Stock Indices Chart 8 - Spot Exchange Rates - Major Currencies Against U.S. Dollar Chart 9 - 3-month Forward Exchange Rates OFFICIAL USE ONLY (Decontrolled after six months) Chart 1 INTERNATIONAL 3-MONTH EURO Wednesday fig vrei MONEY DOLLAR M A R K E T Y I E L D S FOR U.S. D O L L A R INVESTORS DEPOSIT VS. CERTIFICATE OF DEPOSIT A •111 U.S. CCtTIfICATI OF ilPOSIT CURO-OOUAR OVER | SELECTED I N T E R N A T I O N A L M O N E Y Friday figure* RATES CURO-DOIL AR Df POSIT RATI* (LONDON) COM Ml R CI AI PAPIR-Fvlly H«d«ed I.I. mil PVICNASI IfM IHS INTEREST A R B I T R A G E , U N I Friday f I e u re • * M O N T H TREASURY BILL RATES BIL RATE DIFFERENTIAL A N D F O R W A R D C A N A D I A N DOLLAR - 3 - M O N T H C O V E R E D RATE D I F F E R E N T I A L S ( N E T I N C E N T I V E S ) - , , • ! M41 , , $ , , • , , • Thuridoy ligurei 1962, Friday thereoller. , , ) $ 1143 , , I , , l , , I , . l S 1144 ft 1 FAVOlX. J If 4$ S » I N T 1 M S T ARfelTR A O I , N 1 W Y O R K / L O N D O N FrHey II# vies 3 . M O N T H T R E A S U R Y BILL RATES K.I. 10CAI AVTNOtlTV llfOIITI RATE D I F F E R E N T I A L A N D 3 - M O N T H FORWARD STERLING' J RATE D I F F E R E N T I A L W I T H F O R W A R D E X C H A N G E C O V E R (NET I N C E N T I V E ) m i s t INTEREST A R B I T R A G E FOR G E R M A N C O M M E Friday figures I I I I I 3 - M O N T H TREASURY B I L L S , I N T E R B A N K L E N D I N G RATE A N D E U R O - D O L L A R D E P O S I T RATES | fURO-IOllAR ION ION 6IRMAN TKASUIT #111$ I I I I 1 1 RATE D I F F E R E N T I A L A N D F O R W A R D DEUTSCHE M A R K FORWARI RATI i i i i i r RATE D I F F E R E N T I A L W I T H F O R W A R D E X C H A N G E C O V E R (NET I N C E N T I V E ) IN FAVOI OF FRANIFURT rr\ / \ i . —-J\ I I I i INTIIIANI 10AN IATI u A/ V TRIA$URY 1111$ IN FAVOR OF 10N60N IUR0-»0UAR$ 1 I I I I I 1 I 1 I 1 I I SHORT-TERM INTEREST R A T E S * 'Wi » | CANADA m$ Mil *H" 3 month treosury bill roles for oil countries except Jopon ond Switzerland (3-month deposit ral«) ~f* 3 month rote for U 3 dollar deposits in London (Averoge rote on bonk loom ond discounts) -1 L O N O - T I B M BOND Y I I L D S INDUSTRIAL STOCK I N D I C I S tall* »«•!• lie III 111 III III mi * $wi»» lonk Cefpereliee indeslriel neck. *'* Japan: inden el 223 Iridwitrlel end ether Hecks traded em the Tefcye e«che»«*< SPOT I X C H A N O I RATIS - MAJOR CURRENCIES A O A I N t T U.S. DOLLAR N «••• 1.1 flUCi FW*< •/x 3 - M O N T H F O R W A R D E X C H A N G E RATES Friday flgurei A G A I N S T U.S. DOLLARS 7 SWISS FRANC I j y ^ C X | V A G A I N S T POUND STERLING - L O N D O N A G A I N S T POUND STERLING - L O N D O N . 7 " V k I .1 H. 13 No, 221 November 10, 196 Latest Figures Plotted In H. 13 Chart Series Per cent per annum Chart 1 Upper panel Chart 5 (Frlday, Nov. 5 , except as noted) (Wednesday,Nov, 3 ) Euro-$ deposit 5. 00 U.S. certif. of deposit 4.47 Treasury bills: Lower panels (Friday, Nov. 5 ) Euro-dollar deposits: Finance Co. paper: Call 7-day 30-day 90-day 180-day 4. 25 4.38 4.50 4.94 5.06 U.S. 4.38 Canada 4.77 Hire-purchase paper, U.K. U.S. 4.04 U.K. 5.53 Germany 3.88 Canada 4,08 Swiss 3-month deposits (Date: Oct. 15 ) 3.94 Euro-$ deposit (London) 5.00 Japan: composite rate (Date: Aug. 31 ) 7.731 Chart 6 4.98 Bonds: Chart 2 (Friday, Nov. 5 Treasury bills: ) Canada 4.08 U.S. 4.04 Spread favor Canada +0.04 Forward Canadian dollar -0.60 Net incentive (Canada +) -0.56 Chart 3 (Friday, Nov. 5 Treasury bills: Per cent per annum ) U.K. 5.33 U.S. 4.04 Spread favor U.K. +1. 29 Forward pound -1.33 Net incentive (U.K. +) +0.04 Digitized for For FRASER description and sources September 23, 1964. U.S. govt. (Wed., Nov. 3 4.37 U. K. war loan (Thurs., Nov. 4 6.41 German Fed. Railway (Fri. Oct. 29 7.54 Swiss Confederation (Fri. Oct. 29 3.96 Canadian govt. (Wed. , Nov. 3 5.47 Netherlands government perpetual (Fri. , Oct. 29 ) 5.38 of data see special annex to H. 13 Number 164,
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