Full text of U.S. Financial Data : February 8, 1990

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"ttZfcflfilaricial Data
FtBl 21990

February 8, 1990

THE WEEK'S HIGHLIGHTS:
is

The civilian unemployment rate was unchanged from December at
5.3 percent; both total employment and the labor force declined
slightly. Total employment grew 1 percent over the past year, down
from 2.3 percent growth in the previous year.

s

Nonfarm payroll employment rose at a 3.1 percent annual rate in
January and was up 2.2 percent from a year earlier. Payroll
employment grew 3.3 percent in the year ending January 1989.

is

Output per hour in the business sector was unchanged in the fourth
quarter, and hourly compensation rose at a 6.5 percent annual rate.
During 1989, output per hour increased 1.1 percent, and hourly
compensation rose 5.7 percent.

is

New factory orders for durable goods rose 3.2 percent in December,
after rising 4.8 percent in November. For 1989, durable goods orders
increased 5.9 percent, down from a 10.9 percent advance in 1988.

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
308 ---------- ,---------- 1--------

NOV.

BILLIONS OF DOLLARS

28

“ JAN.

14 28 11

DEC
1888

29

JAN

8 22

FEB

• 22

MAR

S 19

APR

3 17 31

MAY

14 28 12

JUN
JUL
1986

4

AUG

SEP

18

1

OCT

IS 29 IS 27 10 24

NOV

DEC

7 21

JAN
FEB
1990

LATEST PLOTTED RESERVE MAINTENANCE PERIOD EM)INOt FEBRUARY 7. 1990
RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
CURRENCY HELD BY THE PUBLIC AM) IN THE VAULTS OF ALL
IESERVE REQUIREMENT RA‘ ______ JOES.
CHANGES
_________
----- ----------RESERVE CREDIT.
DATA ARE COMPUTED BY THIS
)NETARY BASE IS AVAILAI
lABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING:
2/8/89

5/3/89

7/12/89

1 .9
1.8
2.0
2.9
2.7
4.2
5.4

3.2
4.6
4.4
3.8
5.7
7.1

8/9/89

9/6/89

0/4/89

11/1/89 12/13/89

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING*.

c\

..

1

} *

0.3
1.2
1.1
1.8
2.0
2.0
5.2

7/12/89
8/ 9/89
9/ 8/88
10/ 4/89
11/ 1/89
12/13/89
1/10/90
2/ 7/80
■

'"

4.2

3.9
3.9
3.5
5.6
7.3

5.7
4. 1
6.8
8.6

2.9
6.6
8.8

7.7
10.2

16.8

r

...

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
L - C *> '«■'

■

is-

. i.

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

.*/. ■.

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
815

BILLIONS
802.0
805.2
794.0
791.1
794.2
796.9

805

775

5 10

2 10 30 IS 27 IS 27 10 24
FEB
MAR
APR

8 22

5 10

3 17 31 14 28 11 25
AUG
SEP

LATEST DATA PLOTTED WEEK ENDING* JANUARY 29,

0 23

6 20
NOV

4 18
DEC

15 20 12 20

1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE
DEPOSITS AND TRAVELERS CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
1/30/89

5/1/89

AVERAGE OF FOUR WEEKS ENDINGt

6/26/89

7/31/89

8/28/89

5.3
6.3
6.5
5.9
7.2
5.2

4.9
5.6
5.0
6.9
4.5

7.7
6.3
8.2
5.2

10/2/89 10/30/89 11/27/89

TO THE AVERAGE
OF FOUR WEEKS
ENDING-.
6/26/89
7/31/89
8/28/89
10/ 2/89
10/30/89
11/27/89
1/1/90
1/29/90

-4.8
-2.3
-1.9
-0.5
0.3
0.5
1.8
1.0


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

-3. 1
-2.2
0. 1
1.2
1.4
3. 1
1.9

5.3
8.3
4.3

8.7
3.4

3.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

1990
NOV.
DEC.
JAN.

IS
27
II
25
8
22

RATIO

RATIO
2.090
2.090
2.690
2.702
2.671
2.610

Ml MULTIPLIER

12 20

DEC
1988

9 25

JAN

6 20

0

5 17

1

FEB

MAR

APR

MAY

15 29 12 26

10 24

JUN
JUL
1989

LATEST DATA PLOTTED TWO WEEKS ENDING, JANUARY 22,

7 21

4

AUG

SEP

18

2 18 50 15 27 II

OCT

NOV

DEC

25

8 22

JAN
FEB
1990

1990

BILLIONS OF DOLLARS
228 ---------- ,------------- r—

IONS OF DOLLARS
---------------------- 228

-

OF CHANGE. AVERAGE OF
the four Weeks ending
“ JANUARY 29, 1990 FROM
- THE FOUR WEEKS ENDING,
NOV. 27,
OCT. 30,
OCT.
2,
AUG. 28,
JUL. 31
— MAY
JAN. 30.
-

“
-

1989
1989
1989
1989

12.1
9.0
6.8
7.0

CURRENCY

1989

1S9Q

BILL IONS.
222.7
225.6
224.2
224.9
225.9

5 19

2 16 50 15 27 IS 27 10 24

FEB

MAR

8 22

3 19

5 17 51

APR

LATEST DATA PLOTTED WEEK ENDING, JANUARY 29,

14 28 II

AUG

28

SEP

9 25

u 20 4 18 I 18 29
0 1..L..L1111111
NOV

12 28

DEC

1990

1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

DEC.

25

ILL IONS OF DOLLARS
585

571 .8
574. 1

563.5
559.4
561 .7

565

3 10

2

10 30 13 27

FEB

19 27

MAR

10 24

8 22

5 10

3 17 31

APR

14 28 11

AUG

1988

25

0 23

8 20

4 18

NOV

SEP

DEC

1989

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 29,

I

15 20 12 28

1990
1990

TOTAL CHECKABLE DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL
DEPOSITORY INSTITUTIONS.

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
1/30/89

5/1/89

AVERAGE OF FOUR WEEKS ENDING:

6/26/89

7/31/89

8/28/89

6.7
7.3
7.9
7.0
8.3
5.0

5.0
6.5
5.8
7.7
3.8

9.0
7.2
9.2
4.3

10/2/89 10/30/89 11/27/89

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
6/26/89
7/31/89
8/28/89
10/ 2/89
10/30/89
11/27/89
1/1/90
1/29/90

-8.2
-4.7
-3.9
-2.3
-1 . 1
-0.7
0.8
-0.5


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

-5.7
-4. 1
-1.4
0.3
0.7
2.5
0.5

6.6
9.5
3.2

9.3
1.1

0.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

11.0

10.0

8.0

2 10 SO

IS 27

JAN

10 24 10 24

FEB

7 21

5 10

APR

MAY

1988

2 10 SO 14 28 I

JUL
1989

8 22

0 20

S 17

OCT

AUG

NOV

1

15 20 12 26

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* FEBRUARY 9,

1990
DEC.

JAN.

FEB.

1
8
15
22
29
5
12
19
26
2
9 X
16
23

0 23

JAN
FEB
1990
1990.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BOWS

MUNICIPAL
BONDS K»

8.27
8.26
8.35
8.37
8.33
8. 15
8.13
8. 17
8. 19
8.20
8.23

8.42
8.53
8.61
8.67
8.66
8.25
8. 16
8.18
6. 19
8.22
8.24

8. 12
8. 10
8. 19
8. 15
8. 16
7.96
7.92
7.99
8.00
8.01
8.03

8.88
8.86
8.85
8.85
8.88
8.89
8.92
8.98
9.05
9. 15
9.22

9.83
9.81
9.81
9.82
9.85
9.86
9.87
9.93
10.00
10. 10
10.13

7.04
7.00
6.99
6.96
6.97
7.03
7.03
7.14
7.19
7.24
N. A.

NOTE* CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.I5 RELEASE,
ft AVERAGES OF RATES AVAILABLE
ft* BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSOAY DATA
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT

PERCENT

5-Y
TREASURY S

TREAs!

DISCOUNT RATE

2

16 30 13 27 10 24 10 24

DEC
1988

JAN

FEB

MAR

7 21

5 10

APR

MAY

2 16 30 14 28 It

JUN

JUL
1989

AUG

25

6 22

6 20

3 17

1

OCT

SEP

NOV

DEC

15 20 12 26

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDlNGt FEBRUARY 9,

1990
DEC.

JAN.

FEB.

1
8
15
22
29
5
12
19
26
2
9 X
16
23

9 23

JAN
FEB
1090
1990.

FEDERAL
FUNDS K*

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL *OBK

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.51
8.52
8.47
8.52
8.38
8.32
8.22
8.20
8.23
8.24
8.22

7.63
7.61
7.65
7.60
7.68
7.59
7.53
7.72
7.69
7.76
7.82

7.45
7.30
7.41
7.43
7.64
7.52
7.44
7.54
7.58
7.73
7.72

7.21
7.22
7.22
7.15
7.27
7.30
7.26
7.42
7.46
7.54
7.60

7.77
7.74
7.72
7.69
7.88
7.91
7.94
8. 17
8.27
8.39
8.47

8.00
7.99
7.98
7.94
8.09
8.14
8.21
8.39
8.51
8.61
8.67

N0TEl
* AVERAGES^RATES^AVA I LAB’


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

e°MPUTED

2? GOVERNORS* H.15 RELEASE EXCLUDING LONG-TERM TREASURY
BY THIS BANK* t^ASURY BILL YIELDS ARE ON A DISCOUNTBASIS.

e*ing

™° °*vs

ea"uer than mte

•«*

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3250

BILLIONS OF DOLLARS
3250

LLJL1QM&
DEC.

25

3226.4
3220.9
1213.8
1215.7

3225

3150

3125

3100

3075

3075

I I I I
9 19

2

19 90 19 27 19 27 10 24

FEB

MAR

9 22

9 19

17 31

APR

14 28 II

AUG

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 29,

23

SEP

9 29

6 20

4 19

NOV

DEC

1

19 29

12 29

1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.8 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS B* FOREIGN BRANCHES OF U.S. BANKS, MONEY MARKET DEPOSIT ACCOUNTS. SAVINGS AND
SMALL TIME DEPOSITS, AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS.
FOR MORE
DETAIL, SEE THE H.B RELEASE.

MONEY STOCK CM2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
1/30/89

5/1/89

0/28/89

7/31/89

8/28/89

1 .7
3.4
4.0
4.4
4.7
5. 1
5.4
5. 1

5.0
5.6
6.0
6.2
6.5
6.7
6.2

9.4
8.6
8.3
8.4
8.3
7.4

7.4
7.3
7.7
7.8
6.8

7.2
7.8
7.8
6.7

10/2/89 10/30/89 11/27/89

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
6/28/89
7/31/89
8/28/89
10/ 2/89
10/30/89
11/27/8G
1/1/90
1/29/90


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

8. 1
8.0
6.5

8.4
6.3

5.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1

_

NOV.
OCT.
OCT.

27,
30,
2,

1989
1989
1989

0.1
0.5
0.3

“
-

JU L. 31,
MA V
1,
JA N. 30,

1989
1989
1989

0.(
2.
4. ‘

TOTAL TIME 5EP0S TS

2110

i i 11

_
“
“
“

/

i

2110

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JANUARY 29. 1990 FROM
THE FOUR WEEKS ENDINGt

ii ii

-

BILLIONS OF DOLLARS
2140

III

111

2140

11 11

M il

2050

SIS :

B ILL 101

*1

2102.■<
2098.

15

111 .1.11 -LLL 1 1 1 1 -LLL j.i 11 -LLL 1 1 1

2103.6

29

1111

2102.9

22

2100.9

2020

111

i990

-

i

_ S
I

2020

_
_

■i.i 11 j_llI 1111 m 11111!

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 29,
BILLIONS OF DOLLARS

1.99Q
DEC.
JAN.

25
1
8

BILLIONS OF DOLLARS
590

BILLIONS
552.7
552.6
553.7

LARGE TIME DEPOSITS

580

553.1

551.7

570

560

550

540

5 19

2 16 30 FEB 27 MAR 27 APR 24
13
13
10

8 22

3 19

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 29,

3 17 31

14 28 11

AUG

SEP

25

9 23

6 20
NOV

4 18
DEC

1

15 29 12 26

1990

1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS
5.5 ri------- 1---------- 1--------

l&Sfi.

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
---------------------------- Z3 5.5

MILLIONS.

TOTAL BORROWINGS

I I I I
LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 7,

1090

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
2.5

2.0

ADJUSTMENT + SEASONAL
BORROWINGS

1.5

1.0

0.5

12 20 10 24

7 21

5 IB

JUN

JUL

2 IB SO 13 27

SEP

II 28

0 22

6 20

9 17 51 M 20

OCT

LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 7, 1900


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0.0

*

u

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

DEC. 27
191,011

7 21

4

DEC

JAN

!•

1

15

1

15 29 12 25 10 24

7 21

5 IS

JUN

FEB

JUL

2 15 90 15 27 II 25

SEP

5 22

5 20

9 17 91

14 28

OCT

LATEST DATA PLOTTED WEEK ENDING* JANUARY 31, 1900
* DASHED LINE REPRESENTS DATA USING AN OLD REPORTING PANEL AND IS NOT COMPARABLE TO CURRENT DATA.

BUSINESS LOANS u

(COMMERCIAL AND INDUSTRIAL)
WEEKLY REPORT ING LARGE COMMERCIAL

“
-

BANKS 2/

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
330 ---------- ,---------- ,--------

ILL IONS OF DOLLARS
—i------------- ----------- 330

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JANUARY 24, 1990 FROM THE FOUR WEEKS ENDING:

“ NOV. 22, 1989
~ OCT. 25, 1989
“ SEP. 27, 1989
- AUG. 23, 1989
- JUL. 26, 1989
- APR. 26, 1989
**•
1989

-5.8
-5.4
-3.4-2.4
-0.6
2.5
4.2
_

-

306

-

302

DEC. 20
320,673
JAN.

3
321,015

1 1 1 11 I I 1 1 I 1 1 I I
15

DEC

JAN

I

15 20 12

FEB

10 24

7 21

5 19

JUN

JUL

LATEST DATA PLOTTED WEEK ENDING: JANUARY 24.

2 15 90 15 27

SEP

II

25

8 22

8 20

5 17 91

14 28

OCT

1990

1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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

PREPARED BY FEDERAL RESERVE BAM OF ST. LOUIS

11

DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX
AVERAGES OF DAILY FIGURES

1973-100

1973-100

93.7
92.7
93.5

15

DEC
1988

JAN

FEB

1

15 29 12 20 10 24

MAR

APR

MAY

7 21

5 10

JUN
JUL
1989

2 10 30 15 27 II 25

AUG

SEP

OCT

8 22

NOV

8 20

DEC

5 17 31

14 28

JAN
FEB
1990

LATEST OATA PLOTTED KEEK ENDING: FEBRUARY 7, 1990
NOTE:

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS