Full text of U.S. Financial Data : August 25, 1994

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

25, 1994

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THE WEEK'S HIGHLIGHTS:
✓ Manufacturers ’ new orders for durable goods decreased 4.2 percent
in July after rising 1.2 percent in June. New orders for the first seven
months of1994 were up 13.3 percent from the same period in 1993.
Data for new orders are not adjustedfor inflation.
✓ The trade deficit for U.S. goods and services measured $9.4 billion
in June, down $0.1 billion from May. The trade deficit totaled $27.4
billion in the second quarter, up $3.2 billion from the first quarter.
✓ The yield on three-month Treasury bills averaged 4.55 percent for the
week ending on August 26, up 18 basis points from six weeks earlier
and 155 basis points from one year earlier.
✓ The yield on long-term Treasury securities averaged 7.59 percent for
the week ending August 26, down six basis points from six weeks
earlier, but up 156 basis points from a year earlier.
\/ The dollar’s trade-weighted index has changed little in the past six
weeks, rising 0.3 percent, but it is down 5.8 percentfrom a year ago.

All data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research and Public Information Division of the
Federal Reserve Bank of St. Louis. The cost for a subscription is $21 for one year (50 issues) or
$36 for two years (100 issues). For more information or to request an order form, please call
(314) 444-8808 or (314) 444-8809.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at (314) 621-1824.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages ot Daily Figures

Billions of Dollars

1994
Jun

8
22
Jul 6
20
Aug 3
17

Billions of Dollars

Seasonally Adjusted

Billions
441.7
444.2
444.1
447.4
446.7
449.'

7 21 4 II 1 15 21 13 27 10 24 ! 22 5 IS 2 16 2 16 30 13 27 11 25 0 22 6 20 3 17 3! 14 28
Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

1993

May

Jun

Jul

Aug

Sep

1994

Latest data plotted reserve maintenance period ending: August 17, 1994
The adjusted monetary base is the sum of reserve accoynts of financial institutions at Federal Reserve banks,
currency in circulation (currency hdd by the public and in the vaults of all depository institutions) and an
adjustment for reserve requirement ratio changes. The major sourc? of the adjusted monetaiy base is Federal
Reserve credit. Data are computed by this bank. A detailed description of the adjusted monetary base is
available from this bank.
Recent data are preliminary.

Adjusted Monetary Base
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 8/18/93 n/io/93 1/19/94 2/16/94 3/16/94 4/13/94 5/11/94 6/22/94
two maintenance
periods ending:
1/19/94
2/16/94
3/16/94
4/13/94
5/11/94
6/22/94
7/20/94
8/17/94

8.8
10.7
10.4
9.8
9.4
9.2
9.1
9.0


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

11.8
11.0
10.0
9.3
9.1
9.0
8.8

14.9
11.6
10.1
9.6
9.4
9.1

6.8
6.5
7.0
7.3
7.3

5.5
6.6
7.1
7.1

7.2
7.6
7.5

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Billions of Dollars

Averages or uany figures

Billions of Dollars

Seasonally Adjusted

1994

M1
Billions

Jul 11
18
25
Aug 1
8
15

1149.9
1152.7 ■
1158.5
1158.9
1147.8
1148.2

M1 (left scale)

TCD (right scale)

Billions
Jul 11
Aug

5 19 2
Jul

1

799.8
802.0 —
806.6
805.8
795.2
795.2

30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

1993

1994

Latest data plotted week ending: August 15, 1994
Current data appear in the Federal Reserve Board's H.6 release.
checks'* 9Um °* currency

ky the nonbank public, demand deposits, other checkable deposits and travelers

Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
To thp nvprnnp
Compounded annual rates of change, average of four weeks endinq:
of four weeks 8/16/93 11/15/93
2/14/94
3/14/94 4/lB/y4
4/lS/94 5/16/94
5/16/94 9 6/13/94
,
ii/ij/sj 1/17/94
i/i//h4
£./
14/34 O/14/34
ending:
1/17/94
2/14/94
3/14/94
4/18/94
5/16/94
6/13/94
7/18/94
8/15/94

8.6
8.3
7.8
7.1
5.9
5.8
5.7
5.6


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

6.5
6.0
5.4
3.8
4.0
4.0
4.1

5.5
4.6
2.4
2.9
3.2
3.4

3.8
1.2
2.1
2.6
3.0

-0.3
1.4
2.2
2.7

0.2
1.8
2.5

4.8
4.8

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

114
1994

Billions
102.8

22
6
20
Aug 3
17
Jul

110

104.2
102.0
105.2
102.5
105.0

106

102

98

94

7 21 4 II 1 15 29 13 27
Aug

Sep

Oct

25 8 22 6 21 3 17 31 14 21

24 6 22 5 IS 2 If 2 16 30 13 27
Nov

Dec

Jan

Feb

Mar

Apr

1993

May

Jun

Jul

Aug

Sep

1994

Latest data plotted two weeks ending: August 17, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of

Compounded annual rates of change, average of two maintenance periods ending:
8/18/93 11/10/93 1/19/94

2/16/94

3/16/94

4/13/94

5/11/94

6/22/94

1.5
1.8

1.9

periods ending:
1/19/94
2/16/94
3/16/94
4/13/94
5/11/94
6/22/94
7/20/94
8/17/94

7.2
10.2
8.1
5.4
4.4
4.0
3.8
3.7


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

13.0
8.8
4.5
3.2
2.9
2.7
2.7

10.5
2.1
0.6
0.9
1.0
1.2

-8.9
-7.2
-4.3
-3.3
-2.5

-8.4
-4.2
-3.0
-2.0

-0.5
0.0
0.6

Prepared by Federal Reserve Bank of St. Louis

90

Money Multiplier 1/
Averages of Daily Figures
Seasonally Adjusted
Compounded annual
rates of change,
average of the four
weeks ending
August 15, 1 994 from
the four weeks ending:
Aug 16, 1993 -3.0
Nov 8, 1993 -4.0
Feb 14, 1994 -3.9
Mar 14. 1994 -4.1
Apr 11. 1994 -5.0
May 9, 1994 -3.0
Jun 20, 1994 -3.0

5 I!
Jul

Ratio

Ratio

Jul

4

Aug

1

1 11 30 13 27 11 25 8 22 C 20 3 17 31 14 1! H !! II !5 ! !3 I ?0 4 II
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May Jun
Jul
1993
1994

2.590
2.584
2.594
2.553

13 21 12 21
Aug
Sep

Latest data plotted two weeks ending: August 15, 1994

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

350

I
I
Compounded annu al
rates of change,
average of the fou r
weeks ending
August 15, 1994 f
the four weeks enc ing:
Aug 16, 1993 1 3.7
Nov 15, 1993 1 3.9
Feb 14. 1994 1 3.5
Mar 14. 1994 1 3.1
Apr 18, 994
3.8
Ma> 16, 994
3.7
Jur 13, 994
3.9

340

330

Billions of Dollars

350

340

-

330

320

320
11^

Billie ns

Jul 1 1
18
25
Aug 1
8
15

341 .8
342 .5
343.6 344.B
344.4
344.8
l
i 1 I 1 I11 I 1 I

310

5

A

II 2 II 30 13 27 II 25 I 2! ( 20 3 17 31 14 2! 14 21 II 25 I 23 6 20 4 18 1 15 21 12 20
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
1993
1994

Latest data plotted week ending: August 15, 1994
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

5

310

300

6
Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

Loan Rate

2 11 31 13 27 10 24 8 22 5 1$ 3 17 31 14 20 11 25 11 25 8 22 6 20 3 17
Jul

Aug

Sep Oct
1993

Nov

Dec

Jan

Feb

Mar

Apr

1

May Jun
1994

15 29 12 20 9 23
Jul

Aug

Sep

Latest data plotted are averages of rates available for the week ending: August 26, 1994

1994
Jun

3
10
17
24
Jul 1
8
15
22
29
Aug 5
12
19
26 *

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

4.37
4.32
4.34
4.36
4,47
4.53
4.55
4.44
4.46
4.45
4.54
4.74
4.80

4.52
4.43
4.46
4.52
4.71
4.78
4.78
4.65
4.70
4.68
4.79
4.86
4.88

4.44
4.38
4.39
4.46
4.64
4.72
4.69
4.59
4.61
4.61
4.71
4.80
4.79

7.96
7.85
7.94
8.02
8.11
8.18
8.17
8.06
8.05
7.96
8.12
8.07
8.15

8.61
8.51
8.63
8.73
8.80
8.87
8.86
8.75
8.74
8.64
8.79
8.73
8.81

6.09
5.96
6.04
6.16
6.28
6.27
6.22
6.22
6.22
6.16
6.25
6.22
NA

Current data appear in the Federal Reserve Board's H.15 release.
* Averages of rates available
*• Bond Buyer's Average Index of 20 municipal bonds, Thursday data
NA - Not Available
Prepared by Federal Reserve Bank of St. Louis


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Selected Interest Rates

Percent

Averages of Daily Figures

X-\

*'

5.0 ^

Discount Rate

2 II JO 13 27 10 24
Jul

Aug

Sep

22 5 1) 3 17 31 14 28 11 25 11 25 0 22 8 20 3 17 1 15 2! 12 21 i 23
Oct

Nov

Dec

Jan

Feb

7993

Mar

Apr

May

Jun

Jul

Aug

Sep

1994

Latest data plotted are averages of rates available for the week ending: August 26, 1994

1994
Jun

3
10
17
24
Jul 1
8
15
22
29
Aug 5
12
19
26 ♦

Federal
Funds **

3—Month
Treasury
Bill

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

10—Year
Treasury
Securities

Long-Term
Treasury
Securities

4.27
4.13
4.21
4.19
4.19
4.38
4.30
4.30
4.28
4.28
4.26
4.35
4.66

4.15
5.04
6.70
7.09
7.39
4.11
4.89
6.54
6.97
7.28
4.12
4.90
6.65
7.08
7.39
4.16
5.00
6.76
7.17
7.47
4.16
5.18
6.89
7.27
7.57
4.28
5.19
6.95
7.34
7.64
4.37
5.18
6.97
7.36
7.65
4.30
5.10
6.83
7.23
7.52
4.39
5.22
6.89
7.26
7.53
4.34
5.12
6.77
7.15
7.41
4.40
5.29
6.96
7.31
7.58
4.56
5.30
6.90
7.24
7.53
4.55
5.32
6.93
7.27
7.59
Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities
which are computed by this bank. Treasury bill yields are on a discount basis.
* Averages of rates available
•* Seven—day averages for week ending two days earlier than date shown


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

7

8
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

}620

2500

^ M2 ^
1994

35S5

Billions of Dollars

Jul 11
18
- Aug 251
8
15

3570 Z'* V
r

6.12 (left scale)

Billions
3596.2
3600.7
3606.6
36 06.7
35 89.3
35 95.4

r\

N/>
\

2475

V

A- S

.A

/
/ \

• \ /
/
i
i

A
\

2450

V

\

/

1

3545

2425

V

t on-M1 M2 (right sea le)
Nor

A2

199^1

3520

3405

JTS

Jul 11
18
25
Aug 1
8
15

2446.3
2448.0
2448.1
2447.8
2441.5
2447.2

I
5 1)
Ju!

I

2 H 30 13 17 II 25 1 22 i 20 3 17 31 14 28 II 20 II 25 0 23 t 20

4 18 I 15 2! 12 26

Aug

Jul

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

1993

May

Jun

Aug

2400

2375

Sep

1994

Latest data plotted week ending: August 1 5, 1994
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of Ml, overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents
by foreign branches of U.S. banks, savings (including money market deposit accounts), small time deposits
and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release.

Money Stock (M2)
Compounded annual rates of change, average of four weeks ending:
To the average 8/16/93 11/15/93 1/17/94 2/14/94 3/14/94 4/18/94 5/16/94 6/13/94
ending:
1/17/94
2/14/94
3/14/94
4/18/94
5/16/94
6/13/94
7/18/94
8/15/94

1.9
1.7
1.6
2.2
1.9
1.9
1.7
1.7


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1.6
1.4
2.4
1.9
1.9
1.7
1.7

0.6
2.6
1.7
1.8
1.6
1.6

3.6
2.2
2.2
1.8
1.8

2.8
2.6
2.0
1.9

0.6
0.6
0.8

1.2
1.3

1.0

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
12)5 -------- 1----------1--------Savings
1994 Billions

1255

Billions of Dollars
--------- 1----------1-------- 895
Small Time
1994 Billions

Jul 11 1202.6
18 1202.9
25 1201.7

Jul 11
18
25
Aug

8 11 J6.2
15 11 J4.3

8
5

Scvilig» Dap osltt(l eft seal 0

770.9
772.2
773.9

855

lit .0
111 .3

1215
rl

815
-*

__ —
Sr tall Tin e (rig it scale )
^«

1175

1135

775

5 II I It 38 13 !7 II 25 I 2! I 28 3 17 31 H !8 14 28 II 25 ! 23 1 18 4 II I 15 21 12 21
Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

1993

May

Jun

Jul

Aug

735

Sep

1994

Note: Savings deposits are at all depository institutions.

Large Time Deposits and Money Market Funds1 /
All Depository Institutions
Averages of Dally Figures, Seasonally Adjusted

Billions of Dollars
400 -------- ,----------1---------Large Time
1994 Billions
333.3
339.1
341.0

Jul 11
18
25

8
15

3 10 2
3-n.2

8
15

380
*■*
• **•

'N
\

—

t

Lar( a Tims

1

1

340

7

5 II 2 11 38 13 27 II 25 I 22 I 28 3 17 31 14 21 14 21 II 15 I 23 I 20 4 II I 15 21 12 24
Aug

Sep

Oct

Nov

Dec

Jan

Feb

1993

Mar

Apr

May

Jun

Aug

Sep

1994

Latest data plotted week ending: August 15, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.
Prepared by Federal Reserve Bank of St. Louis


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

380

N

~ ■>

Jul

400

380

340

320

364
364

/
1----f
/

4oney larkot

✓ «• s^\

363.6
364.7
363.4

I

Jul 11
18
25

In udLi

380

Billions of Dollars
1----------1-------Money Market
1994 Billions

9

320

10
Total Borrowings
From federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1994

Billions

Jul 20
27
Aug 3
10
17
24

0.462
0.443
0.472
0.432
0.453
0.485

Billions of Dollars

7 21 4 II 1 IS 21 1] 27 ID 24 8 22 5 II 2 IS 2 18 30 13 27 11 25 I 22 8 20 3 17 31 14 21
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
1993
1994
Borrowings include seasonal, adjustment and extended credit; extended credit was $1 million in the week ending
July 20, 1994 and was zero in the other weeks shown in the chart.

Bank Loans and Credit
All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars
3275 —I--------- —
Bank Cr edit
1994 fii lions
3225 “ Jul 6 3:£27.4

10 3:.43.2

Billions of Dollars

2900
2350

13 3:£38.6
20 3:£39.1
27 3:£44.3

3175

i/

Bank CnKdtt (le t scale

)2/

2300
/
✓

3125
4*

3075

___ s
„«4

2200

s"
Loan s<ScLeo ses
199 ± Bill!ons

s'"

3025

LO<in* one Leaset (righ t scale

Jul

6
13
20
27
Aug 3
O

2975
2925

21 4 11
Jul
Aug

15 2§ 13 27 16 24
13 27 11 25
22 5 Jan
1) 2 Feb
18 2 Mar
IS 30
22
Sep
Oct
Nov
Dec
Apr May 1Jun
1993
1994
Latest Wednes day data plotted : Aug ust 10, 1994

a

Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Includes loans and leases and securities


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2250

*

8 Jul20

2254.6
2264.3
2276.8
2281.0
2280.7
2284.4
l

14 2
3 Aug
17 3
Sep

Prepared by Federal Reserve Bank of St. Louis

2150
2100

2050

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1994

Billions of Dollars

Not Seasonally Adjusted
Billions

Jul 13 151.801
153.615
149.560
Aug 3 154.226
150.545
150.105

7 21 4 II 1 15 29 13 27 10 U 8 22 5 19 2 IS 2 IS 30 13 27 11 25 8 22 S
Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

17 31 H 28

Jun

Aug

Sep

Latest data plotted week ending: August 17, 1994

Commercial and Industrial Loans

Billions of Dollars

625

,

Billions of Dollars

325

1

All Banks

615
605

1994 Billions
Jul 6 611.2
13 616.8
20 618.9
27 619.2
Aug 3 619.7
10 620.5

315
305
■

5)5

All kinks ( eft see

505
V

*

.*

r

*

— - * ** ^
sv

je Ban t» (right scale*)

I"1-!"'"1 T ■ 1 ' l
Jul

Aug

r''i 1
Sep

l *“T

1993

Oct

1

"i ' i

1 1 1 1 i" i r « rnr* r-r T 1

Nov

Dec

Jon

Feb

Mar

Latest Wednesday data plotted : August 10, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Weekly reporting, domestically chartered banks


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

11

205
ge
199 i
Jul 6
3
>0
27
Aug 3
10

-e

V — ■ >/“’ ►

575
565

ie)1/

Bariks__
Biliimi
29fJ.6
2951.7
30C ).6
300.9
300.7
301.6

275

■I'll 1 » t
Apr

May

1994

Jun

265
Jul

Aua

y

Seo

H

,. _ ,
r.
Prepared by Federal Reserve Bank of St. Louis

n

285

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1994 1973=100

Aug

3

7 21 4 II 1 15 29 1] 27 10 24 8 22 5 19 2 10 2 16 30 13 27 11 25 0 22 6 20 3 17 31 14 28
Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

1993

Mar

Apr

May

Jun

Jul

Aug

Sep

1994

Latest data plotted week ending: August 24, 1994
Current data appear in the Federal Reserve Board's H.10 release.
Data are weighted averages of the foreign-currency price of the U.S. dollar, computed using 10 industrial
country currencies.
Prepared by Federal Reserve Bank of St. Louis


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

rg r co
i—i
CD
50 50
FI >

in

<

m

t-H K

FI
U\