Full text of H.15 Selected Interest Rates : November 2, 1987
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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. H.15 (519) For immediate release SELECTED INTEREST RATES NOVEMBER 2, 1987 Yields in percent per annum Instruments 1987 OCT 26 FEDERAL FUNDS (EFFECTIVE) 1 / 7.24 COMMERCIAL PAPER 2 / 3 / 1-MONTH 6.92 3-MONTH 7.25 6-MONTH 7.30 FINANCE PAPER PLACED DIRECTLY 2 / 6.81 1-MONTH 3-MONTH 6.89 6-MONTH 6.85 BANKERS ACCEPTANCES (TOP RATED) 2 / 3-MONTH 7.15 6-MONTH 7.12 CDS (SECONDARY MARKET) 1-MONTH 6.96 3-MONTH 7.36 6-MONTH 7.42 BANK PRIME LOAN 1/4/ 9.00 DISCOUNT WINDON BORROWING 1 / 5 / 6.00 U.S.GOVERNMENT SECURITIES TREASURY BILLS AUCTION AVERAGE 2 / 6 / 5.12 3-MONTH 5.98 6-MONTH 1-YEAR AUCTION AVERAGE(INVESTMENT) 6 / 3-MONTH 5.27 6-MONTH 6.27 SECONDARY MARKET 2 / 3-MONTH 5.22 6-MONTH 5.94 1-YEAR 6.30 TREASURY CONSTANT MATURITIES 7 / 8 / 1-YEAR 6.73 7.57 2-YEAR 3-YEAR 7.98 5-YEAR 8.33 7-YEAR 8.65 10-YEAR 8.80 30-YEAR 8.94 anyone TTE? COMPOSITE 8.97 OVER 10 YEARS(L0NG-TERM)9/ CORPORATEf BONDS'* MOODY S SEASONED AAA 10.27 11.38 BAA A-UTILITY 1 0 / STATE & LOCAL BONDS 1 1 / CONVENTIONAL MORTGAGES 1 2 / 1987 1987 OCT 27 OCT 28 1987 OCT 29 1987 OCT 30 This weeK Last week 7.14 6.72 6.76 6.62 7.03 7.37 7.29 7.04 ,7.38 7.37 6.93 7.34 7.35 6.94 7.34 7.37 6.93 7.34 7.34 6.95 7.33 7.35 7.26 7.82 7.90 7.38 7.89 7.96 6.90 7.05 6.72 6.89 7.03 6.72 6.68 7.10 6.94 6.88 7.10 6.76 6.83 7.03 6.80 7.05 7.25 7.14 7.28 7.40 7.17 7.28 7.28 7.31 7.31 7.23 7.25 7.27 7.26 7.25 7.24 7.73 7.79 7.85 7.92 7.03 7.51 7.58 9.00 6.00 6.98 7.46 7.56 9.00 6.00 6.90 7.39 7.47 9.00 6.00 6.91 7.40 7.47 9.00 6.00 6.96 7.42 7.50 9.00 6.00 7.32 7.90 8.05 9.25 ' 6.00 7.39 8.02 8.19 9.07 6.00 5.12 5.98 6.45 6.84 7.21 6.40 6.86 6.89 6.27 7.61 7.08 6.61 7.23 1987 OCT 5.23 6.01 6.37 5.10 5.90 6.29 5.03 5.80 6.24 5.27 5.98 6.32 5.17 5.93 6.30 5.70 6.33 6.72 6.13 6.69 7.05 6.81 7.66 8.06 8.42 8.73 8.92 9.04 6.72 7.65 8.05 8.43 8.79 9.01 9.14 6.66 7.53 7.95 8.33 8.68 8.89 9.08 6.75 7.58 8.00 8.37 8.69 8.88 9.03 6.73 7.60 8.01 8.38 8.71 8.90 9.05 7.22 8.09 8.54 8.90 9.23 9.36 9.49 7.59 8.40 8.75 9.08 9.37 9.52 9.61 9.06 9.16 9.12 9.05 9.07 9.49 9.61 10.25 11.34 10.30 11.37 10.22 11.35 10.19 10.25 11.35 10.68 11.77 10.75* 8.72 11.36 8.43 11.33 10.60 10.97 10.60 8.43 10.97 10.52 11.62 11.07 8.70 11.26 1 WEEKLY FIGURES ARE AVERAGES OF 7 CALENDAR DAYS ENDING ON WEDNESDAY OF THE CURRENT WEEK; MONTHLY FIGURES INCLUDE EACH CALENDAR DAY IN THE MONTH. \\ RATES%N N COMMERCIAL°PAPER A PLACED FOR FIRMS WHOSE BOND RATING IS AA OR THE EQUIVALENT. 4. RATE CHARGED BY BANKS ON SHORT-TERM BUSINESS LOANS. 5 RATE FOR THE FEDERAL RESERVE BANK OF NEW YORK. 6 AUCTION DATE. AUCTION DATE FOR DAILY DATA; WEEK AND MONTH AVERAGES ON ISSUE-DATE BASIS. 7 YIELDS ON ACTIVELY TRADED ISSUES ADJUSTED TO CONSTANT MATURITIES. SOURCE: U.S. TREASURY. 8 SEE REVERSE FOR A DESCRIPTON 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, 10. E S T I M A T E % F N T H E E ^ UTILITY BOND WITH A MATURITY OF 30 YEARS AND CALL 11 12.' BONDEBUYER I N D E X ^ G E N E R A ^ O B L I G A T I O N ! 0 ^ ' Y E A R S TO MATURITY, MIXED QUALITY; THURSDAY QUOTATIONS. CONTRACT INTEREST RATES ON COMMITMENTS FOR FIXED-RATE FIRST MORTGAGES. SOURCE. FHLMC. NOTE: WEEKLY 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 A?F BASED ON FRIDAY FIGURES. R=Revised SELECTED INTEREST RATES YIELDS IN PERCENT PER ANNUM WEEK ENDING WEDNESDAY WEEK ENDED FEDERAL 3-MONTH 3-MONTH 3-MONTH 3-MONTH FUNDS (EFFECTIVE) 1/ TREASURY BILL 2/ COMMERCIAL PAPER 2/ CD (SECONDARY MARKET) EURODOLLAR 3/ 4 WEEKS ENDED 1987 : OCT 28 1987 .: OCT i 21 : 1987 : OCT : 28 : 1987 SEP 30 7.03 5.24 7.35 7.43 7.73 7.37 6.37 8.34 8.49 8.81 7.36 6.27 7.96 8.11 8.37 7.25 6.43 7.40 7.40 7.51 : : : : :: : : : : : 1. FEDERAL FUNDS RATES ARE AVERAGES OF EFFECTIVE RATES FOR SEVEN CALENDAR DAYS ENDING ON WEDNESDAY. 2. QUOTED ON BANK DISCOUNT BASIS. M 3. 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.