Full text of H.15 Selected Interest Rates : June 5, 1989
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FEDERAL RESERVE statistical release These data are released each Monday. The availability of the release will be announced when the information is available, on (202) 452-3206. For immediate release June 5, 1989 H.15 (519) SELECTED INTEREST RATES Yields in percent per annum Instruments 1989 1989 1989 1989 1989 MAY MAY MAY JUN 29 30 31 JUN 1 2 1989 This week Last week MAY 9.84 9.84 9.81 9.74 9.73 9.71 10.48 9.77 FEDERAL FUNDS (EFFECTIVE)1 COMMERCIAL PAPER2 3 9.51 9.54 9.58 9.47 9.47 9.53 9.48 1-MONTH M 9.47 9.31 9.23 9.31 9.29 9.35 9.35 3-MONTH 8.97 9.08 9.29 9.06 9.05 9.07 9.06 6-MONTH A FINANCE PAPER PLACED DIRECTLY2 9.36 9.40 9.41 9.48 9.37 9.39 9.38 1-MONTH R 9.04 9.27 9.04 8.83 9.13 9.10 9.08 3-MONTH 8.69 8.47 8.81 8.73 8.97 8.76 8.73 6-MONTH K BANKERS ACCEPTANCES (TOP RATED) 2 9.16 9.16 9.02 9.20 9.25 3-MONTH 9.18 9.35 E 8.70 8.96 6-MONTH 8.88 8.93 8.94 9.15 8.95 CDS (SECONDARY MARKET) T 9.50 9.52 9.51 9.53 9.52 1-MONTH 9.61 9.49 9.40 . 9.39 9.34 9.44 9.41 9.39 3-MONTH 9.5^ 9.29 9.36 9.30 6-MONTH 9.38 9.33 9.37 9.60 11.50 11.50 11.50 11.50 11.50 11.50 BANK PRIME LOAN1 4 11.50 11.50 7.00 7.00 7.00 7.00 7.00 7.00 7.00 DISCOUNT HINDOW BORROHING1 5 7.00 U.S. GOVERNMENT SECURITIES TREASURY BILLS AUCTION AVERAGE2 6 8.50 8.50 C 3-MONTH 8.40 8.32 8.36 8.36 6-MONTH 8.33 8.39 8.18 L 1-YEAR 8.44 AUCTION AVERAGE(INVESTMENT)6 3-MONTH 8.81 0 8.62 8.81 8.70 6-MONTH 8.85 8.82 8.85 8.88 S SECONDARY MARKET2 3-MONTH 8.41 8.54 8.36 8.61 8.61 8.58 8.43 8.14 8.38 8.43 E 6-MONTH 8.39 8.33 8.38 8.41 8.16 7.94 8.24 1-YEAR 8.21 8.23 8.22 8.31 D TREASURY CONSTANT MATURITIES7 8 8.80 8.57 8.86 8.88 1-YEAR 8.98 8.86 8.87 2-YEAR 8.76 8.87 8.86 8.52 8.82 8.82 9.02 8.47 8.78 8.81 3-YEAR 8.71 8.78 8.98 8.82 8.60 8.68 5-YEAR 8.42 8.65 8.91 8.73 8.65 8.61 8.45 8.64 8.68 7-YEAR 8.67 8.65 8.88 8.64 10-YEAR 8.57 8.43 8.61 8.60 8.63 8.86 8.48 8.60 8.63 30-YEAR 8.58 8.61 8.63 8.83 COMPOSITE 8.74 8.70 8.59 8.72 OVER 10 YEARS(LONG-TERM)9 8.74 8.73 8.95 CORPORATE BONDS MOODY'S SEASONED 9.37 9.32 9.39 9.38 AAA 9.41 9.37 9.57 10.30 10.27 10.20 10.30 BAA 10.27 10.46 10.32 10 A-UTILITY 9.80 9.80 9.94 10.09 7.11 7.15 7.15 STATE & LOCAL BONDS 11 7.25 10.50 10.48 10.48 CONVENTIONAL MORTGAGES12 10.77 Heekly figures are averages of 7 calendar days ending on Hednesday of the current week* monthly figures include each calendar day in the month. 2. Quoted on bank-discount basis. 3. Rates on commercial paper placed for firms whose bond rating is AA or the equivalent. 4. One of several base rates used by banks to price short-term business loans. 5. Rate for the Federal Reserve Bank of New York. 6. Auction date for daily data* weekly and monthly averages on issue-date basis. 7. Yields on actively traded issues adjusted to constant maturities. Source: U.S. Treasury. 8. See reverse for a description of the constant maturity series. The 20-year constant maturity yield was discontinued at the end of 1986 because the Treasury no longer issues a 20-year bond. 9. Unweighted average of all issues outstanding of bonds neither due nor callable in less than 10 years, including one very low yielding "flower" bond. 10. Estimate of the yield on a recently offered, A-rated utility bond with a maturity of 30 years and call protection of 5 yearsj Friday quotations. 11. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality> Thursday quotations. 12. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC. Note: Heekly and monthly figures are averages of daily rates, except for state & local bonds, which are based on Thursday figures, and conventional mortgages and A-utility bonds, both of which are based on Friday figures. SELECTED INTEREST RATES YIELDS IN PERCENT PER ANNUM WEEK ENDING WEDNESDAY WEEK ENDED FEDERAL 3-MONTH 3-MONTH 3-MONTH 3-MONTH 1. 2. 3. FUNDS (EFFECTIVE) TREASURY BILL2 COMMERCIAL PAPER CD(SECONDARY MARKET) EURODOLLAR3 4 WEEKS ENDED 1989: 1989 1989: 1989 MAY 31 MAY 24 MAY 31 MAY 3 9.84 8.56 9.34 9.45 9.50 9.74 8.34 9.30 9.41 9.46 9.80 8.42 9.43 9.55 9.59 9.88 8.61 9.78 9.92 10.04 FEDERAL FUNDS RATES ARE AVERAGES OF EFFECTIVE RATES FOR SEVEN CALENDAR DAYS ENDING ON WEDNESDAY. QUOTED ON BANK DISCOUNT BASIS. FOR INDICATION PURPOSES ONLY. DESCRIPTION OF THE TREASURY CONSTANT MATURITY SERIES YIELDS ON TREASURY SECURITIES AT "CONSTANT MATURITY" ARE ESTIMATED FROM THE TREASURY'S DAILY YIELD CURVE. THIS CURVE, WHICH RELATES THE YIELD ON A SECURITY TO ITS TIME TO MATURITY, IS BASED ON THE CLOSING MARKET BID YIELDS ON ACTIVELY TRADED TREASURY SECURITIES IN THE OVER-THE-COUNTER MARKET. THESE MARKET YIELDS ARE CALCULATED FROM COMPOSITES OF QUOTATIONS REPORTED BY FIVE LEADING U.S. GOVERNMENT SECURITIES DEALERS TO THE FEDERAL RESERVE BANK OF NEW YORK. THE CONSTANT YIELD VALUES ARE READ FROM THE YIELD CURVE AT FIXED MATURITIES, CURRENTLY 1,2,3,5,7,10, AND 30 YEARS. THIS METHOD PERMITS ESTIMATION OF THE YIELD FOR A 10-YEAR MATURITY, FOR EXAMPLE, EVEN IF NO OUTSTANDING SECURITY HAS EXACTLY 10 YEARS REMAINING TO MATURITY.