Full text of U.S. Financial Data : December 16, 1993

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

December 16, 1993

U.S. Financial Data

FKIfrKU
Kl SI KM
ItVSKol
ST. IXM IS

THE WEEK'S HIGHLIGHTS:
✓ The merchandise trade deficit fell to $10.5 billion in October, from
$10.6 billion in September. So far this year, the trade deficit has
totalled $98.2 billion, up from $68.2 billion for the first 10 months
of 1992.
*/ Retail sales for November advanced 0.4 percent, after rising 1.8
percent in October. November sales were up 7.1 percent from a
year earlier. (Retail sales data are not adjusted for inflation.)
✓ Industrial production rose at an annual rate of 11.2 percent in
November, following a 9 percent increase in October. November
production was up 4.4 percent from a year earlier.
✓ Consumer prices rose at a 2.5 percent annual rate in November,
following a 5.1 percent increase in October. So far this year,
consumer prices have risen at a 2.7 percent rate, compared with
a 3 percent increase for 1992.

Because of the Christmas holiday, the next issue of U.S.
Financial Data will not be published until December 30, 1993.

Views expressed do not necessarily reflect official positions of the Federal Reserve System.
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 as follows:
One year (50 issues) $21
Two years (100 issues) $36
To subscribe, please send your check or money order made payable to the Federal Reserve Bank
of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis Post Office
Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers
must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.
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 Ngures
Seasonally Adjusted

Billions of Dollars

1993

Billions

Sep 29
Oct 13

418.1
420.2

Nov 10

420.4

Billions of Dollars

Dec 8

7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 11 25 8 22 6 20 3 17 1 15 29
Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

1992

Jul

Aug

Sep

Oct

Nov

Dec

1993

Latest data plotted reserve maintenance period ending: December 8, 1993
The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve banks,
currency in circulation (currency held by the public and in the vaults of all depository institutions) and an
adjustment for reserve requirement ratio changes. The major source of the adjusted monetary base is Federal
Resjerve 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 12/g/g2 3/3/93 5/12/93 6/9/93
7/7/93
8/4/93
9/1/93 10/13/93
two maintenance
periods ending:
5/12/93
6/9/93
7/7/93
8/4/93
9/1/93
10/13/93
11/10/93
12/8/93

8.9
10.5
9.6
10.3
10.5
10.8
10.6
10.0


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

7.4
6.6
8.3
8.8
9.5
9.5
8.8

11.4
13.0
12.7
12.6
12.1
10.8

9.9
10.5
11.2
10.8
9.6

13.9
13.3
12.4
10.6

12.2
11.3
9.4

Prepared by Federal Reserve Bank of St. Louis

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

Averages ot uany Ngures
Seasonally Adjusted

Billions of Dollars

M1
1993 Billions
Nov 1 1118.4'
8 1118.8
15 1123.0
22 1124.3
29 1127.2 .
Dec 6 1129.6

(left scale)

TCD
1993
Nov

1
8
15
22
29
Dec 6

-TCD (right scale)

Oct

Nov
1992

Dec

Jan

Feb

Mar

Apr

May

Jun
1

Jul

Aug

Sep

Oct

Billions
791.0
791.8
795.8
795.9
798.0
800.8

Nov

Dec

Latest data plotted week ending: December 6, 1993
Current data appear in the Federal Reserve Board's H.6 release.
M1 is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers
checks.
r
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Compounded annual rates of change, average of four weeks ending:
To the average
12/7/92 3/8/93
5/3/93
6/7/93
7/5/93
8/9/93
9/6/93
10/4/93
of four weeks
ending:
5/3/93
6/7/93
7/5/93
8/9/93
9/6/93
10/4/93
11/8/93
12/6/93

5.7
9.7
9.2
9.9
10.0
10.5
10.2
10.2


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

14.6
12.5
12.8
12.6
13.0
12.2
12.0

17.7
16.3
15.2
15.3
13.8
13.4

10.3
10.6
11.8
10.8
10.8

12.7
13.6
11.9
11.7

13.5
11.1
11.0

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

110
1993

Billions

Sep 29 100.6
|06 -Oct 13 102.7
27 105.9
Nov 10 101.1
24 103.4
Dec 8 101.6

102

94

90

22 5 20 3 17 1

7 21 + 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 11 25
Nov
1992

Dec

Jan

Feb

Mar

Apr

May

Jun
1993

Aug

Sep

Oct

Nov

15 29
Dec

Latest data plotted two weeks ending: December 8, 1993
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of
two maintenance
periods ending:
5/12/93
6/9/93
7/7/93
8/4/93
9/1/93
10/13/93
11/10/93
12/8/93

Compounded annual rates of change, average of two maintenance periods ending:
^2/9/92 3/3/93 5/12/93 6/9/93
7/7/93
8/4/93
9/1/93 10/13/93

6.4
12.0
6.5
10.4
10.0
9.8
11.0
9.0


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

0.4
-5.4
2.2
2.8
3.8
6.0
4.1

6.9
18.2
15.2
13.2
15.0
11.0

5.3
5.8
6.5
9.8
6.1

24.2
17.0
18.8
12.5

7.5
12.4
6.5

Prepared by Federal Reserve Bank of St. Louis

86

Money Multiplier1/
Averages ot Daily Figures
Seasonally Adjusted

Ratio
Compounded annual
rates of change,
average of the four
weeks ending
December 6, 1993 from
the four weeks ending:
Dec 7. 1992 0.3
Mar 1, 1993 2.8
Jun 7, 1993 0.9
Jul 5, 1993 1.1
Aug 2, 1993 1.4
Aug 30, 1993 1.8
Oct 11, 1993 2.0

5 19 ! 15 31 M
Oct

Nov

Dec

Ratio
Sep 27
Oct 11
Dec 6

!! 1 2! 5 t! 3 17 31 11 Zi 12 21 1 23
Jan

Feb

Mar

Apr

May

1992

Jun

Jul

Aug

21 4 11

Sep

2.659
2.647
2.634
2.661
2.655
2.670

15 2! 13 27

Oct

Nov

Dec

1993

Latest data plotted two weeks ending: December 6. 1993

Currency Component of M12/
Billions of Dollars

Billions of Dollars

Seasonally Adjusted

Compounded annual
rates of change,
average of the four
weeks ending
December 6, 1993 from
the four weeks ending:
Dec 7, 1992 10.3
Mar 8, 1993 10.4
Jun 7. 1993 10.7
Jul 5, 1993 10.0
Aug 9, 1993 10.4
Sep 6, 1993 9.1
Oct 4. 1993 6.0

1993

Billions

Nov 1

319.5
319.1
319.3
320.5
321.2
320.8

Dec 6

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

1992

Jun

Jul

Aug

20 4 18 I 15 29 13 27

Sep

Oct

Nov

Dec

1993

Latest data plotted week ending: December 6, 1993
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

6

Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

5.0

9.0

a

9.0
"n

•rate
on da

/

N.

X
^x>

7.0

\

„J

b Muni rfpal Bo nds
s
X+
>*s.

(.0

X

V

6.0
>

■^_

— /0

s

*»

/

\X

\

\

V
Pr me Bar k
Lo an Rata

7.0

> s'* ■ V /

/

\

X

J

1

X^-

5.0

rv V

9.0

Corner erclal
Pa

2.0

' 1 ' I i Ml M'l

1 M ' I'M Ml'

2 16 30 13 27 11 25 6 22 5 19
Oct

Nov

Dec

Jan

Feb

JL

5 19 2 16 30 14 28
Mar

Apr

May

MM

MM'1 I'M1 H'l T

r~r~'~r~rT~rT

Jul

Oct

11 25 9 23
Jun

1992

I'M

6 20 3 17 I 15 29 12 26 10 24
Aug

Sep

Nov

Dec

1993

Latest data plotted are averages of rates available for the week ending: December 17, 1993

1993

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds♦*

Sep 24
Oct 1
8
15
22
29
Nov 5
12
19
26
Dec 3
10
17 *

3.11
3.16
3.23
3.22
3.23
3.29
3.36
3.36
3.33
3.36
3.35
3.31
3.25

3.15
3.17
3.15
3.14
3.13
3.14
3.15
3.15
3.14
3.15
3.27
3.41
3.35

3.08
3.10
3.18
3.17
3.18
3.24
3.31
3.30
3.28
3.29
3.30
3.26
3.21

6.79
6.69
6.70
6.62
6.63
6.73
6.87
6.92
6.94
6.99
6.95
6.86
6.95

7.43
7.35
7.35
7.25
7.26
7.38
7.57
7.65
7.69
7.74
7.70
7.61
7.69

5.30
5.30
5.30
5.20
5.20
5.31
5.45
5.46
5.46
5.49
5.46
5.33
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
N A — Not Available
Prepared by Federal Reserve Bank of St. Louis


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

Selected Interest Rates

Percent

Percent

7.0 i

7.0
5- -Year
rsaaur) Secur ties
✓

— \ -------------N.

(.0

Vv
>.

'

\
\
\
V

N

5.0

/

✓
✓

V/

✓

N
—V"
\

s/

5.0

r

4.0
Fade ml
Funds Rots

3.0
/

✓ 3-14onth
Tree* ury Bill

2.0

b

}

. S
-•b> <v

*

V.-*

^-\ S
D scount Rats

■‘c—

'Ml*
Oct

Nov
1992

Dec

Jon

19 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24

Feb

Mar

Apr

May

Jun
Jul
Aug
Sep
Oct
1993
Latest data plotted are averages of rates available for the week ending: December 17, 1993

1993
Sep 24
Oct 1
8
15
22
29
Nov 5
12
19
26
Dec 3
10
17 *

Federal
Funds **
3.12
3.05
3.24
2.91
2.97
2.97
3.04
2.96
3.03
2.98
3.09
2.92
2.94

3—Month
Treasury
Bill

6—Month
Treasury
Bill ***

1 —Year
Treasury
Bill

5—Year
Treasury

2.93
2.92
2.97
3.02
3.04
3.06
3.08
3.10
3.11
3.12
3.12
3.07
3.04

3.06
3.02
3.08
3.12
3.14
3.19
3.25
3.28
3.26
3.30
3.26
3.27
3.26

3.26
3.21
3.21
3.22
3.27
3.32
3.40
3.39
3.42
3.46
3.46
3.44
3.48

4.80
4.72
4.69
4.62
4.69
4.82
5.03
5.04
5.04
5.13
5.14
5.10
5.18

Nov

Dec

Long-Term
Treasury

5.99
5.89
5.88
5.77
5.82
5.95
6.13
6.17
6.20
6.30
6.25
6.14
6.26
HI,+2.® k
t 3erve
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
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis


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

7

3.0

2.0

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

Billions of Dollars

1993

Billions of Dollars

M2
Billions

Nov 1
8
15
22
29
Dec 6

3529.2
3540.0
3547.3.
3548.1
3548.0
3559.1

(left scale)

Non-M1 M2 (right
Non-M1 M2
1993 Billions
Nov

1
8
15
22
29
Dec 6

5 19 2 16 30 14 28 11 25
Nov

Dec

22 5 I9 3 17 31 14 28 12 26 9 23 6 20 4 18 1
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

2410.8
2421.2
2424.3
2423.8
2420.8
2429.5

15 29 13 27
Nov

Dec

Latest data plotted week ending: December 6, 1993
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
arid 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 12/7/92 3/8/93
9/6/93
10/4/93
8/9/93
6/7/93
7/5/93
5/3/93
of four weeks
ending:
5/3/93
6/7/93
7/5/93
8/9/93
9/6/93
10/4/93
11/8/93
12/6/93

-1.6
0.7
0.7
0.9
1.0
1.3
1.1
1.5


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

4.1
3.2
3.0
2.8
3.0
2.5
2.9

6.2
4.7
4.1
4.1
3.2
3.7

1.4
1.5
2.2
1.6
2.3

1.9
2.7
1.8
2.6

3.1
1.7
2.8

1.7
3.1

2.5

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1993 Billions
Nov

1
8
15
22
29
Dec 6

1210.3
1214.4 .
1215.6
1214.2
1214.1
1217.6

Savings Deposits (left scale)

Money Market (right scale)

Money Market
1993 Billions
Nov

1
8
15
22
29
Dec 6

333.3
333.6 —
334.5
340.9
339.1
338.6

Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.

Large and Small Time Deposits1 /
Billions of Dollars
______ ______ ______

All Depository Institutions
Averages of Doily Figures, Seasonally Adjusted

Billions of Dollars
Small Time
1993 Billions
Nov

Large Time (left scale)

Large
1993
— Nov 1
8
15
22
29
Dec 6

Time
Billions
332.7
333.0
332.4
331.0
334.0
332.7

Nov

Dec

1

792.3
790.2
788.4
787.8 —
785.9
784.2

Small Time (right scale)

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

I8 I I5 2) 13 27
Nov

Dec

Latest data plotted week ending: December 6t 1993
1/ Large time deposits are those issued in denominations of $100,000 or more.


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

Prepared by Federal Reserve Bank of St. Louis

9

10
Total Borrowings
Billions of Dollars

From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

199?

Pillions

Nov 10
17
24
Dec 1
8
15

0.121
0.073
0.075
0.076
0.036 ---0.058

7 21 4 18 2 16 50 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 11 25 0 22 ( 20 3 17 1 15 2!
Oct Nov Dec Jan
Feb Mar Apr May Jan
Jut
Aug Sep Oct
Nov Dec
1992

1993

Adjustment + Seasonal Borrowings
Billions of Dollars

l-rom hederai Reserve banks
Averages of Daily Figures

Billions of Dollars

Nov 10
17
24
Dec 1
8
15

0.121
0.073
0.075
0.076
0.036 —
0.058

7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 1! 2 16 30 H 28 11 25 8 I! 6 20 3 17 I 15 2)
Feb Mar
Apr
May
Aug Sep Oct
1992

1993

Latest data plotted week ending: December 15, 1993


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

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies

Billions of Dollars

Billions of Dollars

Not Seasonally Adjusted

1993

Billions

Nov 3
10
17
24
Dec 1
8

160.963
158.839
159.454
159.676
159.431
155.963

Latest data plotted week ending: December 8, 1993

Commercial and Industrial Loans'/
Weekly Reporting Large Commercial Banks2/

Billions of Dollars

325
315
305
255

Billions of Dollars

—
„ I
I
Compounded ann ual
rates of change,
average of the foi r
weeks ending
December 1, 1993 from
the four weeks en ding:
Dec 2, 1992 - 2.9
Mar 3, 1993 - 1.0
Ju n 2, 1993 0.6
Ju n 30, 1993 -0.6
Au g 4, 1993 1.0
Se p 1, 1993 2.5
Se

----------1-------199 2
27
Nov 3
0
7
24
1

325

Billions
272.930__
274.356
273.612
275.109
273.765
274.303

315
305
295

285

285

275

275

285

"IT*

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

1992

Jun
Jul
1993

.. 25 I 22

Aug

Sep

1 ' I ■ 1 ■ I~T 1 -t—|

20 3 17 1 15 2!
Oct
Nov Dec

Latest data plotted week ending: December 1, 1993
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than |1.4 billion
Prepared by Federal Reserve Bank of St. Louis


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

11

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1993 1973=100

7 21 1 18 2 15 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 II 25 8 22
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

20 3 17 1 15 2!
Nov

Dec

Latest data plotted week ending: December 15, 1993
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

z

ah
8
p

h
J
O
as
05 □ Cl