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SELECTED INTEREST & EXCHANGE RATES FOR MAJOR COUNTRIES & THE US. W E E K L Y SERIES O F CHARTS BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H. 13 November 7, 1973 Release No. 635 TABLE OF CONTENTS PARTI. EXCHANGE RATES AND GOLD PRICES Chart 1A, I B , & 1C - Spot Exchange Rates, Major Currencies against U.S. Dollar Chart 2A and B - 3-Month Forward Exchange Rates, Major Currencies against U.S. Dollar Chart 3A and B - 3-Month Forward Exchange Rates, Major Currencies against U.K. Pound Chart 4 - Gold Price In London PART II. SHORT-TERM INTEREST RATES Chart 5 - Call Money Rates Chart 6A and B - London: Euro-) Deposit Rates Chart 7A and B - New York - London: Yields on U.S. Dollar Funds Chart 8A and B - London: Covered Yields on U.S. Dollar Funds Chart 9A and B - Interest Arbitrage: United States-United Kingdom Chart 10A and B - Interest Arbitrage: U.S.-Germany and U.S.-Switzerland Chart 11 - Interest Arbitrage: United States-Canada Chart 12 A and B - Selected Short-term Interest Rates PART III. LONG-TERM INTEREST RATES AND STOCK INDICES Chart 13 Chart 14 - Long-Term Bond Yields - Industrial Stock Indices PART IV. SELECTED CENTRAL BANK DISCOUNT RATES AND LATEST FIGURES PLOTTED ON THE CHARTS NOTE: This series is a continuation of the CAPITAL MARKETS DEVELOPMENTS ABROAD, which was published under that title through December 31, 1968. The changes in the format and order of the charts are explained in the Supplement to the series, which accompanied issue dated January 1, 1969. All series and their sources are fully described in a Supplement dated January 1, 1972. SPOT EXCHANGE RATES - MAJOR CURRENCIES AGAINST U.S. DOLLAR Weekly averages 40 GERMAN MARK \ BELGIAN FRANC V SWISS FRANC 20 / ' JAPANESE YEN CANADIAN DOLLAR Per cent above average market rate in January 1972 M J 1972 S D J S 1973 Weekly averages (week ending on Friday) of daily offered rates in the New York market as per cent above or below Smithsonian central rates D 4 Chart I B SPOT EXCHANGE RATES - MAJOR CURRENCIES AGAINST U.S. DOLLAR Weekly averages 31.04 Per cent 30 20 FRENCH FRANC DUTCH GUILDER I T A L I A N LIRA against U.K. P O U N D D 1972 J 1973 Weekly averages (week ending on Friday) of daily offered rates in the New York market as per cent above or oelow Smithsonian central rates. D SPOT EXCHANGE RATES - MAJOR CURRENCIES AGAINST U.S. DOLLAR Weekly averages 30 DUTCH GUILDER GERMAN MARK SWISS FRANC 20 JAPANESE YEN FRENCH FRANC BELGIUM FRANC DUTCH GUILDER I T A L I A N LIRA CANADIAN DOLLAR Per cent above average market rate in January 1972 Central U.K. P O U N D JAN. FEB. APR. MAY JUNE JULY AUG. SEPT. 1973 Weekly averages (week ending on Friday) of daily offered rates in the New York market as per cent above or below Smithsonian Chart 2A I 3-MONTH FORWARD EXCHANGE - MAJOR CURRENCES AGAINST U.S. DOLLAR Weekly averages Per cent per annum I | I I | I I | II | I I | I I | I I | I I II | II | II | I I PREMIUM C A N A D I A N DOLLAR U.K. P O U N D DISCOUNT PREMIUM GERMAN MARK DISCOUNT PREMIUM + DUTCH GUILDER I \ ~ DISCOUNT M i : , , . , , i ! : I i J 1970 ; : 1 i D 1971 * Canadian Dollar Rate not supported by Bank of Canada See DESCRIPTION AND SOURCES OF DATA, January 1, 1973. pp. 2-3. i 1 i i i i i 1 i i 1 1 1 I ! 1 1 1 1 1 1 j M 1972 1973 s 1 Chart 2B 3-MONTH FORWARD EXCHANGE - MAJOR CURRENCES AGAINST U.S. DOLLAR Per cent per annum Weekly averages 1 1 1 1 1 1 1 1 1 1 1 I I | ! 1 | 1 1 1 1 1 1 | I I J I I | I I 1 1 | 1 1 | I I | 1 1 PREMIUM + FRENCH FRANC 1 - 1 DISCOUNT — — PREMIUM + rv\. SWISS FRANC \^/v\ DISCOUNT 1 1 1 1 1 1 1 1 1 1 1 V J S D 1 1 1 1 1 1 1 1 1 1 1 M 1970 J s D 1971 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 2-3. 1 1 1 L' 1 1 1 1 1 1 1 I I M M J 1972 S D 1 1 I' 1 1 1 1 I I J 1973 S D 12 Chart 3A 3-MONTH FORWARD EXCHANGE - MAJOR CURRENCIES AGAINST U.K. POUND Per Friday figures cent per annum PREMIUM GERMAN MARK U.S. DOLLAR DISCOUNT - S S D 1970 D 1971 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, p. 3. M J 1972 S D J 1973 S D 4 Chart 36 3-MONTH FORWARD EXCHANGE - MAJOR CURRENCIES AGAINST U.K. POUND Per cent per annum Friday figures PREMIUM + - i ! ! S W I S S FRAI 1iC - \ - t f! \ d W A / i VFRENCH FRANC - 1 DISCOUNT 1 1 1 i 1 ! M J ' ! ' S i D 1970 i 1 ! M 1 : 1 1 ! J 1 1 I S i 0 1971 See DESCRIPTION AND SOURCES OF DATA, January I, 1973. p 3 : i 1 i M i 1 J 1972 I I I , S I D . i M i ! ! J 1973 I I i S 1 1 Chart 4 GOLD PRICE IN LONDON, 12.5 Kg BARS Week's average of afternoon fixings U.S. dollar equivalent per fine ounce 120 90 60 30 M J S 1971 D J 1972 See DESCRIPTION AND SOURCES of DATA, January 1, 1973, p. 4. S D M 3 1973 S D Chart 5A CALL MONEY RATES Per cent per annum DOLLAR F U N D S Weekly averages 14 CALL E U R O - D O L L A R D E P O S I T S OVERNIGHT EURO-DOLLAR D E P O S F S FEDERAL FUNDS DIFFERENTIAL E U R O - D O L L A R OVER FEDERAL FUNDS FAVOR EURODOLLAR FUNDS i . . I , , i , i I i i I I I I Per cent per annu EURO-CURRENCIES Weekly averages EURO-DM EURO-SWISS FRANC i 1 i i 1I I I 1i I I I 11 1972 •Changed from CALL to OVERNIGHT Euro dollar deoos.ts. Mav 10. 1971 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973. pp 4 6 1 1 1 1 1 1 1 Chart 5B CALL MONEY RATES S E L E C T E D F O R E I G N A N D EEC C U R R E N C I E S Friday figures Per cent per annum V A F R A N C E . / r y f t f A, Itftr IK I \rvv YETHERLAI 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 M i l l T i n i m i 11 JAPAN i I V I i i i i i i i E CANADA U.K. U.K. GERMANY 0 S 1970 1971 D M J S D 1972 France, Day-to day Money. NetheriamK, Call Money, weekly average; Japan, Unconditional Money; Canada, Day-to-day Loam., weekly average, Germany. Call Money, U.K., 2-day Local Authority Deposits. See DESCRIPTION AND SOURCES OF DATA. January 1, 1973. pp. 4 6. M J 1973 S D Chart 6A LONDON: EURO DOLLAR DEPOSIT RATES Friday figures Per cent per annum 15 0 0 OVERNIGHT CALL 7-DAY 12 1-MONTH M J S D M 1970 J S D 1971 * May 12/71—changed to Overnight Euro-Dollar Deposits * * Jufy 1—changed to 7-Day Euro-Dollar See DESCRIPTION AND SOURCES OF DATA, January 1, 1973. p. 6. M J 1972 S D M J 1973 S D \H LONDON: EURO-DOLLAR DEPOSIT RATES Per cent per annum Friday figures -vv A y \ - - / V\ 3-MONTH 12 10 - - - i , 1 , , 1 , , i 1 , , i 1 i i 1 i i 1 i i i i l l 1 i I I i I i 1 i i 1 i i 1 i i 12 A" V v 10 K 6-MONTH, f - - - i i 1 i i 1 i i hi i i i 1970 1 i i 1 i i 1 i i 1971 See DESCRIPTION AND SOURCES OF DATA, January I , 1973, p. 6. l l 1 I I 1 I 1972 I 1 l I I l 1 l l 1 1 1 1 1 1 1973 F• Chart 7A NEW YORK-LONDON: YIELDS ON U S. DOLLAR FUNDS 3-MONTH DOLLAR DEPOSIT RATES-SECONDARY MARKET Per cent per annum Wednesday figures 12 •* I i 10 C ) DOLLAR DEPOSIT \ \ j [ t - 8 r t y 1 - I A v i z - x ' I U.S. CERTIFKGATE OF DEPOSIT 1 1i 11i 11111i 1 1 I I 111! 111 i i 1i i 1i I 1i i DIFFERENTIAL i i 1i i 1 i i 1i i FAVOR EURO DOLLAR A wv\M 4 - - Avw" EURO DOILLAR OVER U.S. CERTIFIC:ATE OF DEPOSIT 1 ! 1 1 1 1 1 1 1 1 1 M J 5 D I I 1 I l 1 I l 1 i I M 1970 J S D 1971 See DESCRIPTION ANDSOURCESOF DATA, January 1. 1973. pp. 6-/ 1 1 1 1 1 1 1 1 1 1 1 M J S 1972 / D i i 1 i i 1 i i 1 i i M J 1973 s * *: Chart 7B NEW YORK-LONDON: COST OF U.S. DOLLAR FUNDS 3 - M O N T H DOLLAR DEPOSIT R A T E S - P R I M A R Y MARKET Wednesday figures Per/cent per annum EURO-DOLLAR DEPOSIT ADJUSTED1 A EURO DOLLAR DEPOSIT U.S. C E R T I F I C A T E OF D E P O S I T ADJUSTED1 EURO DOLLAR OVER ^ U.S. CERTIFICATE OF DEPOSIT ADJUSTED M J S D 1970 J S D 1971 * Adjusted for Reserve Requirement * * Adjusted for 10% Marginal Reserve Requirement * * * Adjusted for 20% Marginal Reserve Requirement See DESCRIPTION AND SOURCES OF DATA, January 1 1973, pp. b 7. M J 1972 S D M J 1973 S D Chart 8A LONDON: COVERED YIELDS ON U.S. DOLLAR FUNDS HIRE PURCHASE/STERLING CD's vs EURO DOLLAR RATES Per cent per annum Friday figures 12 EURO-DOLLAR DEPOSIT HIRE PURCHASE COVERED STERLING CD's COVERED „ FAVOR STERLING CD's DIFFERENTIAL \ J\ i / v y Ha/V1 r V ; 1 FAVOR EURO DOLLAR 1 1 1 1 1 1 1 l M J 1 1 1 S 1 1 1 I I D 1970 M J 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 S D M 1971 J S 1972 * H i r e Purchase suspended August 11, 1972 and Sterling Certificates of Deposit begin August 11, 1972. See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 7-8. O I I 1 1 1 1 1 1 1 1 1 J 1973 S Chart 8B L O N D O N : C O V E R E D l o c a l a u t h o r i t y and Y I E L D S O N euro d o l l a r U.S. D O L L A R F U N D S rates Friday figures Per cent per annum 12 EURO-DOLLAR DEPOSIT LOCAL AUTHORITY DEPOSIT COVERED FAVOR LOCAL AUTHORITY - d i f f e r e n t i a l / V | / Ha/^ IA A 'wn J / "vvi W - FAVOR EURODOLLAR m i i M m i i J i i S m 1 m D M 1970 I i i I J i i I S i i D 1971 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973. pp. 7-8. i M i i i i 1 1 1 1 1 1 J S 1972 D i i M 1 1 1 I 1 1 1 1 1 J S 1973 D Chart 9A INTEREST ARBITRAGE: UNITED K I N G D O M A N D UNITED S T A T E 0 Friday figures Per cent per 3 - M O N T H TREASURY B I L L RATES U.K. LOCAL AUTHORITY DEPOSITS UNCOVERED NEW YORK LONDON NEW YORK M S L 1970 J D 1971 * Plotted for comparison purposes See QESCRfPTION AND SOURCES OF DATA, January 1, 1973. pp. 8-9 S 1972 D M S 1973 D Chart 9B INTEREST ARBITRAGE: UNITED KINGDOM AND UNITED STATES Friday figures II | II Per cent per annum | I I | M | II | I I | II | II | II | II | II I I | I I | 'I | II I | I I PREMIUM RATE DIFFERENTIAL AND 3 - M O N T H FORWARD STERLING SPREAD IN FAVOR OF LONDON FORWARD RATE DISCOUNT RATE DIFFERENTIAL WITH FORWARD EXCHANGE COVER FAVOR LONDON FAVOR NEW YORK 1 I I 1 1 I 1 I I 1 M m j s d I I 1 I I I I I 1 I I m 1970 j s d I I 1 I I I I I 1 I I m 1971 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp.8-9. j s 1972 d I I 1 I I 1 I I I I I m j 1973 s d 3 - M O N T H FUNDS INTEREST ARBITRAGE: EURO D O L L A R - G E R M A N F R A N K F U R T I N T E R B A N K L O A N RATE V S . L O N D O N E U R O D O L L A R R A T E Wednesday rates M A R K Per 14.25 I I I cent per annum I I I I I 12 GERMAN INTERBANK LOAN RATE EURO-DOLLAR COVERED FAVOR FRANKFURT DEFERENTIAL FAVOR EURO DOLLAR I I I M 1 I I 1 I I I I 1 I I I I I 1 I I I 1970 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 910_ No quotation I I I I 1 I I I I I I I I I I 2 I 3 - M O N T H F U N D S INTEREST ARBITRAGE: EURO DOLLAR - SWISS F R A N C Z U R I C H D E P O S I T R A T E VS. L O N D O N E U R O - D O L L A R RATE Wednesday rates Per cent per annum SWISS DEPOSIT RATE EURODOLLAR COVERED FAVOR ZURICH DIFFERENTIAL FAVOR EURO-DOLLAR M See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 9-10. I I I I 1 I I i i I I I M I I 1 1 i I P . Chart 11 3 - M O N T H INTEREST ARBITRAGE: CANADA - UNITED STATES Friday figures Per cent per UNITED STATES TREASURY BILLS CAN. FIN. CO. PAPER CANADIAN TREASURY BILLS 1 PREMIUM BILL RATE DIFFERENTIAtL AND FORWARD CANADAiN DOLLAR M : FORWARD RATE V/u V \ YJVA j— A —Z~V y A / V y / w GROSS SPREAD IN FAVOR OF C/INADA x f l DISCOUNT FAVOR CANADA" COVERED RATE DIFFER!ENTIALS K V V / VvV . PRIME FINANCE PAPEF v S y u jWV v \ V\ / ^ W r \ V x v / \y V A v - ^ TREASURY 1JILLS FAVOR U.S. i i 1 i M i 1 i J i S 1 i i I I D 1970 M 1 1 1 1 1 1 1 1 1 J S D 1 I M 1971 See DESCRIPTION AND SOURCES OF DATA, January 1, 1973, pp. 10-11. 1 l J 1 1 I I S 1972 1 1 1 D 1 1 1 1 1 1 1 1 1 1 1 M J S 1973 D Chart 12A SELECTED SHORT TERM INTEREST RATES* Per cent per a n n u m .A W- W J GERMANY U.S. 12 U.K. U.S. JAPAN MONTHLY i i 1 i i 1 i i ! i i i i 1 i i 1 i i ! i i M 1 1 1 1 ! 1 1I I1 11 1 1 1 1 1 11 11 11 1 1 1 1 1 1 I I 1970 1971 1972 1973 * 3-month treasury bill rates for all countries except Japan(Average rate on bank loans and discounts) and Germany (interbank loan rate) See D ESC RI HI IUN AND S U U K L t b Uh LMirt, January i , i 973, pp. 11-12. 1974 Z P Chart 128 SELECTED SHORT-TERM INTEREST RATES Per cent per annum t EURO DOLLAR - LONDON f \ 1/ U.S. \_ SWITZERLAND U.S. CANADA 1970 1971 1972 See DESCRIPTION AND SOURCE Or DAI-'- .,anuvy 1 1973. pp i . I? 1973 1974 LONG-TERM BOND YIELDS Weekly figures - p s „ w NETHERLANDS u.s. SWITZERLAND 1 1 1 1 I I 1 1 1 li 1 ' 11 1 I 1 l I 1 I1I I1 I l 1 .1 l 1 i iM 1 1 I 1 1 1 1 i 1i 1 i i 1 i i 1 i i f\\2Z > U.K. /hj \r' y GERMANY/^ CANADA I I 1 1 1 1 1 1 1i 1! ! 1 I ! 1 I I 1 I 1i 1 1 1 1 1 1 1 1 !11 11 1 1 ! 1 1 1! 11 11 11 1 1 1 1 i 1 1 Monthly figures 3 j U.S. CORPORATE: A r / DOLLAR EURO BONI>S v x ..--'"X. j A w BONDS DM EURO-BONDS 1 1 1 1 1 1 1 1 11 i! !11 i 1 1 1 1 I 11 11 . 1J 1 1 I I 1 IiI 1I 1i i 1 i i 1 i i | LI 1 1 1 1 1 1 1 1 I 1970 1971 1972 1973 1974 See DESCRIPTION AND SOURCES OF DATA, January I. 1973. pp. 1215. 5 Chart 14 INDUSTRIAL STOCK INDEXES Ratio scale, 1958=100 Ratio scale, 1958=100 320 UNITED STATES \ I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ! 1 1 II 1 1 1 A V X " >240 1 1 1 I I 1 1 1 1 1 1 1200 JAPAN 480 SWITZERLAND ^ A T - 960 j s 320 640 240 F ~ V Y UNITED KINGDOM JAPAN GERMANY 160 /V» 1 CANADA Y 320 GERMANY 240 VA V ^ ~ 1 1 1 1 1 1 1 1 1 I I v w 1 1 1 I I 1 1 1 1970 1971 \y 11 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ' 1 1 1 1 1 1972 1973 160 November 7 , 1973 H.13 Release No. 635 Country IV. SELECTED CENTRAL BANK DISCOUNT RATES Current Rate Previous Rate In Effect Since O c t . 4 , 1973 6.5 August 2 , 1973 Sept. 20, 1973 9.5 August 2 , 1973 May 3 , 1973 In Effect Since E.E.C.: Belgium France 7.0 11.0 Germany 7.0 June 1, 1973 6.0 Italy 6.5 Sept. 15, 1973 4.0 A p r i l 10, 1973 Netherlands 7.0 Oct. 16, 1973 6.5 August 7, 1973 **United Kingdom 11.50 J u l y 27, 1973 9.00 J u l y 20, 1973 Switzerland 4.5 Jan. 1 , 1973 3.75 Sept. 15, 1973 Canada 7.25 Sept. 13, 1973 6.75 August 7, 1973 Japan 7.0 Aug. 29, 1973 6.0 J u l y 2 , 1973 United States 7.5 Aug. 14, 1973 7.0 J u l y 1 , 1973 * * E f f e c t i v e October 13, 1972, the Bank o f England r e p l a c e d I t s t r a d i t i o n a l Bank Rate w i t h a f l u c t u a t i n g "minimum l e n d i n g r a t e " based on average Treasury b i l l tender r a t e . IV-2 • A H.13 November 7, 1973 Release No. 635 LATEST FIGURES PLOTTED ON THE CHARTS Chart Panel Series Date 1A&1C IB & 1C IB & 1C 1A&1C Swiss franc U.K. pound French franc Japanese yen Nov. 2 24.08 " -6.64 20.97 14.35 1A&1C I B ft i n 1A & 1C 1A & 1C IB & 1C Belgian franc Italian lire Canadian dollar German mark Dutch guilder 2A 2B Upper 3A 3B 4 5A =* Upper Middle Lower 5B Upper Lower -• Rate " " •i » 21.59 1.81 0.82 31.66 27.53 „ H H ii German mark Swiss franc U.K. pound Dutch guilder Canadian dollar French franc 1.37 3.16 -4.05 -0.29 -0.28 -2.52 " " H " " German mark U.S. dollar Swiss franc French franc " Gold price, U.S. dollar per ounce ii 97.80 Overnight Euro-$ deposits Federal Funds Differential Euro-currencies: Euro DM Euro Swiss Fr. Japan, Unconditional Money U.K., 2-day Local Author. Deps. Canada, Day-to-day Loans France, Day-to-Day Money Germany, Call Money Netherlands, Call Money . Oct. 31 9.61 9.90 -0.29 H 3.69 3.36 3.92 1.17 II H " " Nov. 2 " Oct. 27 Oct. 26 " Nov. 2 " Oct. 26 8.00 8.50 8.75 13.63 6.70 11.25 14.38 8.05 3 ' : H.13 ' November 7, 1973 Release No. 635 jw_3 Chart Panel 6A Series Rate Date Euro-$ Overnight Rate Nov. 2 Euro-$ 1-month Rate 6B .. Euro-$ 3-month Rate ^ 9.13 Oct. 31 9.13 Upper Euro-$ 3-month Deposits Lower Differential Upper Euro-$ 3-month Deposits " 9.13 Euro-$ 3-month Deposits (Adj.) " 9.92 U.S. Certificate of Deposits (Adj.) Lower Oct. 24 Differential: on Adj. Euro-$ Deposits on Unadj. Euro-S Deposits 8A Upper Euro-$ 3-month Deposits +0.04 Oct. 19 n Euro-$ 3-month Deposits ii Local Authority Deposits (covered) Upper Spread (+= favor London) 3-month Forward Pound Lower Net Incentive (+= favor London) ! 9.69 1 9.22 | fb- Nov. 2 AM ! Oct. 26 i s . 00 Nov. 2 +3.07 II U.K. Treasury Bill rate 9B -0.66 -0.47 Differential Local Authority Deposit (uncovered) 9.69 9.03 Differential U.S. Treasury Bill rate 9.15 ii Lower 9A 1 1 +0.84 Upper Lower 8.80 +0.33 ii S t e r l i n g CD's (covered) 8B 10.00 " U.S. Certificate of Deposits 7B 9.63 9.38 Euro-$ 6-month Rate 7A '% | 1 10.46 ii " -3.79 -0.72 't- A P r i [ H.13 November 7, 1973 Release No. 635 IV - 4 Rate Chart Panel Series 10A Upper Euro-) Deposits (covered) Lower Differential Upper Euro-$ Deposits (covered) 5.51 Swiss Deposit rate 4.50 Date Oct. 31 German Interbank Loan rate 10B 11 Lower Differential Upper Canadian Finance Paper Second 14.25 +6.67 -1.01 Nov. 2 7.39 Canadian Treasury Bill rate 6.30 U.S. Prime Finance paper (not plotted) 7.50 Bill rate differential Third Net incentive on bills Bottom Net incentive on Finance Paper Upper U.K. Treasury Bill rate -1.09 -0.28 -1.37 +1.47 10.46 U.S. Treasury Bill rate 7.39 German Interbank Loan rate Lower Japanese Average rate Canadian Treasury Bill rate 12B 9.25 U.S. Treasury Bill rate Forward Canadian dollar 12A 7.58 14.25 August 7.302 Nov. 2 6.30 U.S. Treasury Bill rate ii 7.39 Euro-$ Deposits ii 9.38 * Swiss 3-month Deposit rate U.S. Treasury Bill rate 4.50 " 7.39 H.13 November 7, 1973 Release No. 635 IV. 5 Chart Panel Series 13 Upper Netherlands Date Oct.. 26 Canada ii Switzerland Oct. Germany United Kingdom Lower U.S. Corp. Dollar E u r o " b o n § | r i e s U.S. Corp. DM Euro-bonds U.S. Corp. Aaa bonds 14 Upper Switzerland Germany United States Middle United Kingdom Canada Lower ** Japan United States * New G Series G 7.75 7.59 " * United States Middle Rate 6.75 5 5.75 Oct. 19 9.77 Oct. 26 11.22 Sept. 8.39 Sept. 7.94 Sept. 7.63 Oct. 26 H Nov. 2 M 374.5 i ! 276.4 S 248.31 i 185.9 | Oct. 26 310.89 I Oct. 19 814.62 1 1 Nov. 2 248.31 " Average yield on selected 10 year constant maturity bonds due or callable in 10 years. ** Beginning week ended September 5, 1970, the Japanese index plotted is that of all industrial and other stocks on the First Section of the Tokyo Stock Exchange. | ! 1
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