Full text of U.S. Financial Data : December 3, 1987

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rryF
TTES
Fed

HS3tnancial Data
of St. Louis

DEC 0 8 1987

“December 3, 1987

THE WEEK'S HIGHLIGHTS:
is

The composite index of leading indicators fell 0.2 percent in October
following no change in September. The October drop in the index
was attributable primarily to a decline in stock prices and was the
first since January 1987.

ts

Yields on long-term government securities averaged 9.24 percent for
the week ending December 4, down from a recent peak of 10.21
percent in mid-October.

ts

Single-family home sales declined 1.5 percent in October. Through
the first 10 months of 1987, sales totaled 593,000, down 9 percent
from the same period in 1986.

v*

Construction spending fell 0.5 percent in October following an
increase of 1.5 percent in September. October spending was 3.3
percent above the pace of a year earlier.

is

New factory orders for durable goods rose 1.4 percent in October
and were up 10.9 percent from October 1986.

views expressed do not necessarily reflect official positions of the Federal Reserve system.


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

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
278

BILLIONS
274
_

NOV.
271.7
270

266

250

I I I I
8 22

5 19

9 17 51

14 28 II

JAN

FEB

28 II

25

8 22

MAR

6 20

5 17

MAY

JUN

1066

I

15 29 12 26

9 23

I I I I
7 21

4

18

OCT

NOV

2 18 50

1087

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDlNGt DECEMBER 2,

1087

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 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 PER 1ODS ENDING*
2/3/86

2/25/87

5/6/87

6/3/87

7/1/87

7/29/87

8/26/87

10/7/87

6.4
4.9
4.6
5.5
5.4
6. 1
6.3

1.5
2.2
4. 1
4.5
5.6
5.9

1.5
4.3
4.7'
5.9
6.2

6.8
6.2
7.4
7.5

7.3
8.5
8.4

7.9
7.9

9.8

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING*
5/ 6/87
6/ 3/87
7/ 1/87
7/29/87
8/26/87
10/ 7/87
11/ 4/87
12/ 2/87

9. 1
8.2
7.0
6.6
7.0
6.7
7.2
7.2


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
700 ---------- 1---------- 1--------

ILL IONS OF DOLLARS
—------------- ----------- 780

B-LLLIQNS
759.5
768.4
762.7
759.2
756.2
759.5

I

OCT

15 M 12 M

NOV

JAN

0 23

0 23

FEB

0 20

4 18

APR

MAY

I

13 20 13 27 10 24

5 10

SEP

2

18 30 14 28

OCT

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 23, 1987
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
depoIitsEandMtravelersNchecksD

BY THE

nonbank

publ,c- DEMAND

deposits.

OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
11/24/86

2/23/87

4/20/87

12.9
12.7
9.8
8.0
8.0
7. 1
7.8
7. 1

8.9
4.8
3.0
3.9
3.2
4.6
4. 1

3.0
0.7
2.6
1 .9
4.0
3.3

5/25/87

AVERAGE OF FOUR WEEKS ENDING:

6/22/87

7/20/87

8/24/87

9/21/87

2.2
1.2
4.5
3.5

3.8
7.1
5.3

6.8
4.4

6.8

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
4/20/87
5/25/87
6/22/87
7/20/87
8/24/87
9/21/87
10/26/87
11/23/87


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

-5.9
-0.9
“0.9
2.2
1.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK

v

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.705
2.822
2.807
2.824
Ml MULT I PL

6 20

9

OCT

NOV
1986

17

1

IS 29 12 26

JAN

9 29

9 29

FEB

6 20

4

APR

MAY

IS

I

IS 29 19 27

10 24

7 21

5 19

SEP

OCT

LATEST DATA PLOTTED TWO WEEKS ENDING: NOVEMBER 16,

IS 90 14 28

1987

BILLIONS OF DOLLARS

202

2

1987

BILLIONS OF DOLLARS

202

I—1----------1--------------1---------- 1---------_
-

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING

_

THE FOUR WEEKS ENDING:

_
_
_

SEP. 21,
AUG. 24
JUL. 20,
IM. Ci ,
25
MA Y
FE B. 23
NO V. 24 |

1987
1987
1987
iwer
1987
1987
1966

_
*

13.5
11.4
10.1

,

y.
8.'

s

CURRE NCY

1:

y

-

~

_

_

186

186

0C1 .

_

Illl JXL
OCT

NOV
1986

■ 111

J_LL

III. INI -LLL li i

I IS 29 12 26 9 29 9 29
DEC
JAN
FEB
MAR

6 20
APR

1111

4 18
MAY

111

1111

I IS 29 19 27 10 24
JUN
JUL
AUG

111
7 21
SEP

19
26

BILL 10
195.9
197.2

I im

1 ?87

9
198.0
_
16
198.5
23 198.8
1 i i i 1 i i i i 1 i i i!
8 19
OCT

2

16 90 14 28

NOV

DEC

1987

LATEST DATA PLOTTED WEEK ENOINGt NOVEMBER 23, 1987
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.8 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL CHECKABLE DEPOS ITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
580 ---------- 1---------- 1--------

1SSL
OCT.

ftlLLIQNS

18

NOV.

558.1
554.4
550.8
553.8

I

OCT

BILLIONS OF DOLLARS
------------------------------- 580

NOV
1986

13 20 12 26

DEC

JAN

0 23

FEB

0 23

MAR

6 20

4

APR

MAY

18

1

15 20 !3 27

JUN
JUL
]987

10 24

7 21

5 10

AUG

SEP

OCT

2

16 30 14 28

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23. 1987
DEPOSITORYKmSTITUT?ONSS 'S ™E SUM ** DEMAND 0EP0SITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
11/24/86

2/23/87

14.3
14. 1
10.3
8.0
8.0
6.8
7.6
6.5

9.6
4.2
1.8
3.0
2.0
3.7
2.7

4/20/87

5/25/87

AVERAGE OF FOUR WEEKS ENDINGs

6/22/87

7/20/87

8/24/87

9/21/87

0.6
- 0.8
3.2
1.5

2.5
6.6
3.6

5.9
2.0

4.8

TO THE AVERAGE
OF FOUR WEEKS
ENDINGs
4/20/87
5/25/87
6/22/87
7/20/87
8/24/87
9/21/87
10/26/87
11/23/87


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

1.4
-1 .5
1 .0
0. 1
2.6
1.4

-9.6
-3.3
-3.4
0.4
-0.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
12.0 |—

PERCENT

—I 12.0

10.0
CORPORATE
Aaa BONDS

I I I I
3

I I I I

17 31

OCT

14 28 12 28

NOV
1986

DEC

9 23

JAN

0 20

6 20

3 17

I

FEB

MAR

APR

MAY

15 29

12 26

10 24

JUN
JUL
1987

7 21

4

AUG

SEP

18

2

16 30

OCT

13 27

NOV

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: DECEMBER 4,

1987
OCT.

NOV.

DEC.

2
9
16
23
30
6
13
20
27
4 *
1 1
18
25

II

25

DEC

1987.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS **

7.80
8. 19
8.73
7.90
7.42
7.26
7. 13
7.18
7.26
7.65

7.45
7.52
7.86
7.26
6.95
6.78
6.72
6.79
6.75
7. 12

7.62
8.04
8.59
7.73
7.26
7.05
6.94
7.06
7.14
7.44

10.34
10.48
10.73
10.68
10.25
10.08
9.97
9.97
10.01
10. 12

11.49
1 1 .61
11.78
11.77
11.35
11.28
11.18
11.22
11.22
11.23

8.53
8.66
9. 17
8.72
8.43
7.90
8.03
7.91
7.96
N. A.

NOTE;
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
** BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA
N.A. - NOT AVAILABLE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT
11.0 r-

PERCENT

—1 11.0

TREASURY

JRITIES

, 3-MONTH
TREASURY BILL

DISCOUNT RATE

NOV

DEC

4

FEB

MAR

APR

AUG

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING:

FEDERAL
FUNDS xx
OCT.

2
9
16
23
30

NOV.

6
13

7.56
7.43
7.59
7.37
7.03
6.43
6. BS

20
DEC.

27
4 K
1 1
18
25

6.70
6.89

18

2

16 30 13 27

SEP

NOV
DECEMBER 4,

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL Mi

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

6.62
6.65
6.98
5.70
5.17
5.62
5.78
5.78
5.72
5.42

6.83
6.96
7.34
7.21
5.98
6.24
6.24
6.33
6. 1 1
6.12

7.30
7.50
7.70
6.72
6.30
6.42
6.49
6.54
6.56
6.56

9. 17
9.39
9.73
8.90
8.38
8.32
8.30
8.35
8.41
8.43

II

25

DEC

1987.

LONG-TERM
TREASURY
SECUR1T1ES

9.92
10.21
9.57

9.24

N0TE’
securi'tIesTwhIchEare'computed^? THis0B*NK0RSTRPii?u.5E^,A?Ev^FkaDly6 long-term treasury
* AVERAGES OF RATES AVAI LABLE^UTED BY ™ S BANK‘
TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS
M^B^ay»?dM?k, EW1N0 ™ DAYS EARLIER THAN ■»«


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

PREPARED BY FEDERAL RESERVE BALK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOS I TS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

iSfil
OCT.

BILLIONS OF DOLLARS
410

BILLIONS

19
9

372.3

374.8
377. I
379.I
382.3

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENOING: NOVEMBER 23, 1987
BILLIONS OF DOLLARS
330

BILLIONS OF DOLLARS
1987
OCT.

BILLIONS
325

19
321.5

320

LARGE TIME DEPOSITS

315

310

305

300

295

I II I
6 20

9 17

OCT

NOV

19 29

12 20

JAN

9 29

FEB

9 29

6 20

4 IS

APR

MAY

I

IS 29 19 27

10 24

7 21

9

SEP

OCT

19

2

16 30 14 26

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 23. 1987
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES

SLASUNALLY ADJUSTED

BILLIONS OF DOLLARS
895 ---------- .---------- ----------

OCT.

19

BILLIONS OF DOLLARS
------------------------------- 895

865.9
871.0
881 .7
882.4

6 20

3 17

OCT

NOV

I

15 29 12 20

JAN

9 23

9 23

FEB

6 20

4 16

APR

MAY

LATEST DATA PLOTTED WEEK ENDING? NOVEMBER 23,

I

15 29 13 27

10 24

7 21

5 19

SEP

OCT

2

16 30 14 28

1987

TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
1/24/86
2/23/87 4/20/87 5/25/87 6/22/87 7/20/87 8/24/87 9/21/87
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/20/87
5/25/87
6/22/87
7/20/87
8/24/87
9/21/87
10/26/87
11Z23/87

8.6
9. 1
9.5
9. 1
8.6
7.9
8. 1
9.2


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Federal Reserve Bank of St. Louis

9.7
10.2
9.5
8.6
7.7
7.9
9.5

1 1.4
9.8
8.5
7.3
7.6
9.6

9. 1
7.6
6.2
6.8
9.3

5.7
4.5
5.8
8.9

3.7
5.6
9.5

5.8
II.1

15.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
3.0 ------------- 1---------- 1------

1991
OCT.

BILLIONS OF DOLLARS
------ ----------- -------------- 3-°

MILLIONS

28
4

603

2

684

TOTAL BORROWINGS

I 1 I I
LATEST DATA PLOTTED WEEK ENDING. DECEMBER 2,

1987
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
1991

MILLIONS.

ADJUSTMENT + SEASONAL
BORROWINGS

1

15 29 12 26 10 24

7 21

4 16

JAN

FEB

4 18

I

IS 28 13 27

MAY

10 24

JUN

0 22

5 19

2 10 30 14 20 II

OCT

28

9 23

NOV

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 2. 1987


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
BILLIONS OF DOLLARS
TOO r-----------,---------- ,------

NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
------ ------------------------- 100

_ OCT. 21
NOV.

4
79,937
80,662
76,697

I I I I
OCT

NOV
1986

DEC

JAN

FEB

MAR

IAPR
15 29 MAY
13 27 JUN
10 24

8

22

5 19

2

16 30

14 28

OCT

I I

NOV

25

9 23

LATEST DATA PLOTTED WEEK ENDING*. NOVEMBER 25, 1987

BUSINESS LOANS

u

( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
295 ------------- -------—------

BILLIONS OF DOLLARS
------1---------- 1------------- 295
COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR *EEKS ENDING
NOVEMBER 18, 1987 FROM
16,

1987

17,
20,
18,

1987
1987
1987

-0.6

-3.8

MILLIONS
OCT. 14
NOV.

275,086
275,267

4
276,338
276,667

J-LJ I I
OCT

NOV
1986

DEC

JAN

FEB

MAR

APR

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 18,

MAY

JUN

-LL-1 I I I
OCT

NOV

1987

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND CWACRCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN tl.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11