Full text of U.S. Financial Data : January 5, 1989
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RESEARCH LIBRARY IE:, j t-;.. U.S. Financial Data JAN 10 1989 January 5, 1989 THE WEEK'S HIGHLIGHTS: v The Ml money stock rose at a 1.5 percent annual rate from the four weeks ending July 25, 1988, to the four weeks ending December 26, compared with a 7.3 percent rate of increase in the first seven months of 1988. w* Sales of new single-family homes fell 8 percent in November 1988. Through the first 11 months of last year, however, single-family home sales were about the same as for the first 11 months of 1987. ^ Construction spending (not adjusted for inflation) rose 0.8 percent in November 1988 and was 1 percent above the year earlier pace. is Factory orders for durable goods were virtually unchanged from October to November of last year. For the first 11 months of 1988, durable goods orders were up 10.4 percent from the same period in 1987. Durable goods data are not adjusted for inflation. RESEKVK HANK of 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 290 ---------- 1------------- ,------ ILL IONS OF DOLLARS ------ ---------------------- 290 FULL IONS 283.2 283.5 285.0 285.7 284.9 285.0 4 18 NOV 2 10 30 19 27 10 24 DEC 1987 JAN FEB 0 23 MAR 0 20 4 18 1 APR MAY JUN JUL IQ88 13 29 13 27 10 24 AUG 7 21 3 10 SEP OCT 2 18 30 14 28 11 DEC 25 JAN LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt DECEMBER 28, 1988 RPERVeJ|InK^CURRENC?A|N CIRCULATION^CURRENCY HELCMJyShE PUBLIc'AND "iN^HE^mTsV^LL^ BANK. A DETAILED DESCRIPTION OF THE ADJUSTED MONETAHY 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: 12/30/87 3/23/88 6/1/88 6/29/88 7/27/88 8/24/88 9/21/88 11/2/88 5.7 5.9 5.1 5.9 4.6 5.0 4.3 5.5 4. 1 4.5 5.9 4.2 5.8 3.6 3.7 TO THE AVERAGE OF TWO MAINTENANCE PERIODS ENDING! 6/ 1/88 6/29/88 7/27/88 8/24/88 9/21/88 11/ 2/88 11/30/88 12/28/88 7.7 8.6 8.4 7.9 7.7 7. 1 7.3 6.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.4 8.3 7.4 7.2 6.5 6.9 6.0 10.6 8.3 7.7 6.5 7.0 5.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 795 784.7 785.4 786.3 2 16 50 14 20 II DEC 1987 25 8 22 JAN J 1 I I I I 1 I 7 21 4 18 MAR APR 2 16 90 19 27 II 25 8 22 5 10 5 17 91 JUN JUL 1988 14 28 12 26 NOV 0 29 DEC LATEST DATA PLOTTED WEEK ENDING: DECEMBER 26, 1988 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE. Ml ISTHESUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS. OTHER CHECKABLE DEPOSITS AND TRAVELERS CHECKS. MONEY STOCK (Ml) COMPOUNDED ANNUAL RATES OF CHANGE, 12/28/87 AVERAGE OF FOUR WEEKS ENDING: 3/28/88 5/23/88 6/27/88 7/25/88 8/29/88 7.2 7.8 6.2 5.6 4.7 4. 1 4.2 8.2 5.6 4.8 3.8 3.2 3.4 4.8 4.0 2.8 2.3 2.8 1.6 0.8 0.7 1.5 0.7 0.7 1.7 9/26/88 10/24/88 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/23/88 6/27/88 7/25/88 8/29/88 9/26/88 10/24/88 11/28/88 12/26/88 6.9 6.9 7.3 6.3 5.9 5.3 4.8 4.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -0.1 1.5 2.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY MULTIPLIER^ CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 3.0 RATIO 3.0 1 -------------1---------- ---------- 1------------1988 RATIO OCT. NOV. 17 31 14 28 2.770 2.761 2.740 2.752 26 2.751 Ml MUL TIPLI R \ 2.7 lux 1 L-L 2 10 30 14 28 NOV DEC 1987 1111 in II 25 JAN 8 22 m. XIX mi 1 1 1 1111 7 21 4 18 2 16 90 13 27 II MAY FEB 25 JUN JUL 1988 1 1 IX 1 1 1 1 1 1 1 1 1 1 1 1 1 OCT NOV DEC 8 22 AUG SEP ini’ JAN LATEST DATA PLOTTED TWO WEEKS ENDINGt DECEMBER 26, 1988 ILL IONS OF DOLLARS —I---------- ------------- 2,6 BILLIONS OF DOLLARS 2»6 ------------- 1---------- 1----_ COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF - THE FOUR *EEKS ENDING - DECEMBER 26, 1908 FROM _ THE FOUR WEEKS ENDINGt _ OCT. 24, SEP. 26, AUG. 29, —JUL. 25, - JUN. 27, _ MAR. 28, DEC. 28, 1988 1988 1988 1988 1988 1988 1987 6.5 6.3 6.8 6.2 6.9 7.3 7.8 CURRENCY BILLIONS. NOV. 21 1111111 2 18 90 14 26 II DEC 25 8 22 JAN 7 21 4 16 MAR APR 2 16 90 13 27 II 25 JUN 8 22 JUL 5 19 9 17 31 14 28 12 NOV 9 23 DEC LATEST DATA PLOTTED WEEK ENDING* DECEMBER 26, 1988 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 BILLIONS OF DOLLARS NOV. 568.9 568.2 568.0 566.4 566.8 2 16 30 14 26 II DEC 25 8 22 JAN 7 21 4 18 MAR APR 2 16 30 13 27 JUN II 25 8 22 5 10 3 17 31 JUL 14 28 12 26 NOV 0 23 DEC LATEST DATA PLOTTED WEEK ENDING* DECEMBER 26, 1988 TOTAL |CHECKA^E|DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING: 2/28/87 3/28/88 5/23/88 6/27/88 6.0 6.2 6.7 5.6 5. 1 4.3 3.7 3.7 7.0 7.6 5.8 4.9 3.7 3.0 3. 1 8.3 5. 1 4.0 2.6 1.9 2.2 4.0 2.8 1.3 0.8 1.2 7/25/88 8/29/88 9/26/88 10/24/88 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/23/88 6/27/88 7/25/88 8/29/88 9/26/88 10/24/88 11/28/88 12/26/88 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -0.1 -1.1 -1.1 -0.2 -1.6 -1.4 -0.2 -2. 1 -0.3 l.l 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 PAN Rt 6 20 4 10 NOV DEC I 13 20 12 20 II FEB 25 6 22 MAR 6 20 3 MAY JUN 17 0 23 7 21 4 OCT NOV IS 2 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 6, 1989 NOV. 4 1 1 18 25 DEC. 2 9 16 23 30 JAN. 6 X 13 20 27 90 DAY CD'S 30-DAY COMMERCIAL PAPER 90-DAY BANKERS' ACCEPTANCES CORPORATE Aaa BONDS 8.43 8.55 8.80 9.00 9.22 9.24 9.32 9.29 9.20 9. 15 8.22 8.31 8.42 8.46 8.82 9.27 9.32 9.39 9.30 9.05 8. 18 8.34 8.59 8.78 8.94 8.93 9.02 8.98 8.90 8.90 9.39 9.38 9.45 9.52 9.55 9.52 9.57 9.59 9.60 9.64 amisTHE board * governors' h-,s CORPORATE Baa BONDS 10.33 10.40 10.49 10.58 10.61 10.61 10.65 10.68 10.67 10.71 10 SO IS 27 1989. MUNICIPAL BOWS KK 7.33 7.44 7.50 7.58 7.66 7.68 7.66 7.57 7.50 N.A. «•«*• «* BOND BUYER'S AVERAGE IWEX OF 20 MUNICIPAL BOWS, THURSDAY DATA N.A. - NOT AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BAMS OF ST. LOUIS SELECTED INTEREST RATES AVERAGES OF DAILY RATES PERCENT PERCENT TREASURY SECURITIES DISCOUNT RATE o «) 4 IB 1 NOV DEC 1987 15 JAN 29 12 26 FEB II MAR 25 8 22 APR 6 20 5 IT MAY JUN I 15 29 12 26 JUL 1988 AUG 9 23 SEP 7 21 OCT 4 18 NOV 2 16 DEC LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING] JANUARY 6, IS NOV. DEC. JAN. 4 I I 18 25 2 9 16 23 30 6 X 13 20 27 FEDERAL FUNDS *BK 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL XK* 1-YEAR TREASURY BILL 5-YEAR TREASURY SECUR1T1ES LONG-TERM TREASURY SECURITIES 8.36 8.31 8.26 8.33 8.44 8.59 8.51 8.87 8.86 9.22 7.38 7.57 7.91 8.0! 7.94 7.96 8.09 8. 1 1 8. 16 8.20 7.48 7.71 7.87 7.99 8. 13 8.25 8.21 8.29 8.33 8.37 7.53 7.76 7.94 8.06 8. 10 8.23 8.42 8.32 8.38 8.44 8.44 8.69 8.84 6.99 9.00 8.99 9. 16 9. 10 9. 18 9.25 8.84 9.04 9. 14 9.21 9. 18 9.08 9. 13 9.08 9. 1 i 9.21 itiPisryuwMiPriMiii imswam. SLs!MY*0^EfDliMK, E*,M# TW0 MYS EARLIER THW °*TE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 MONEY STOCK ( M2) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 3100 ------------- 1---------- r— 1988 3075 __ NOV. IONS OF DOLLARS ------ -------------- 3100 BILL LONS 3059.4 3061.9 3075 3065.3 3066.5 3065.2 3065.7 3050 2975 2950 2925 2900 2900 2 16 30 14 28 11 23 8 22 7 21 4 18 MAR APR 2 18 30 13 27 JUN 8 22 II 5 19 3 17 31 H 28 12 28 NOV JUL 9 23 DEC LATEST DATA PLOTTED WEEK ENDING: DECEMBER 26, 1988 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE M2 IS THE SUM OF Ml, OVERNIGHT RPS ISSUED BY ALL COUCRCIAL 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 FUN6S. FOR MORE DETAIL, SEE THE H.6 RELEASE. MONEY STOCK (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING* 12/28/87 3/28/88 5/23/88 6/27/88 7/25/88 8/29/88 6.8 6. 1 5.2 4.8 4.0 4.4 4.5 5.0 4.1 3.6 2.9 3.5 3.8 3.0 2.7 2.0 3.0 3.3 2.3 1.4 2.8 3.3 0.8 2.9 3.5 9/26/88 10/24/88 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/23/88 6/27/88 7/25/88 8/29/88 9/26/88 10/24/88 11/28/88 12/26/88 8.6 8. 1 7.5 6.8 6.3 5.6 5.7 5.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.3 3.9 6.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ALL DEPOSITORY INSTI TUT IONS TOTAL TIME DEPOSITS 1/ LARGE TIME DEPOSITS 2/ 1970 1940 1880 1850 1820 Z_ Z COMPOUNDED ANNUAL RAT ES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING DECEMBER 26, 1988 FRC M THE FOUR WE^KS END INC t —~ OCT. 24, 1988 7.3 Z SEP. 26, 1988 8.5 - AUG. 29, 1988 9.5 —JUL. 25, 1988 9.5 - JUN. 27, 1988 9.4 - MAR. 28, 1988 9.3 " DEC. 28. 1987 10.0 TOTAL TIME 1970 1940 E E 1910 1880 1850 6. illio IS!IS E ‘mi JJ-L III I 1 I I -LI 1 -U.1- .Mil LATEST DATA PLOTTED WEEK END I NGi DECEMBER 26, in -LLL 1 1 1 1 1 1 1 Mill111111111 i 1999 21 ill 1 BILLIONS 531.5 530.7 533.7 534.6 533.6 535. 1 14 28 11 DEC 1790 0 BILLIONS OF DOLLARS LARGE TIME DEPOSITS 16 30 1820 1988 BILLIONS OF DOLLARS NOV. “ z z 1790 28 5 12 19 26 as. 1985.3 1988.. 1992. 1994.' 1996.v DEC. 2 2000 - >EPOS TS TTTT 1910 BILLIONS OF DOLLARS 2030 — llll 2000 AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED TTTT TTTT BILLIONS OF DOLLARS 2030 -- ---------1--------- 1---------1----------- 25 8 22 JAN 7 21 4 18 MAR APR 2 16 30 13 27 1 1_LLU 25 8 22 5 10 3 17 SI 14 28 12 26 NOV 0 23 DEC 1989 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 26, 1988 1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIWE DEPOSITS. 2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 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 AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 4.5 r-------- 1------------- 1----- NOV. 30 7 14 21 2367 2016 2012 1332 4 2280 BILLIONS OF DOLLARS ---------------------------- “I 4.5 TOTAL BORROWINGS LATEST DATA PLOTTED WEEK ENDING. JANUARY 4, 1989 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 1989 NOV. DEC. MILLIONS 30 7 1104 558 4 1372 ADJUSTMENT + SEASONAL BORROWINGS 4 18 2 16 SO IS 27 10 24 JAN FEB 9 23 6 20 4 18 APR MAY I 15 2S 15 27 10 24 7 21 5 IS SEP OCT 2 16 SO 14 DEC JAN LATEST DATA PLOTTED WEEK ENDING. JANUARY 4, 1989 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMMERCIAL PAPER OF NONFINANCIAL COMPAN IES BILLIONS OF DOLLARS 105 NOT SEASONALLY ADJUSTED _—1--------- 1-------- MILLION 5. 97,84 97,85 99,84 100,802 101,422 98,89 - 14 21 28 105 = ✓A V" ~f----/ r~\ i J\ / A r' I \ ,J 100 r— M ill - 100 1988 I NOV. 23 30 - DEC. 7 V r A 90 I fv Lv v' 111 .mi JJ i 4 18 2 16 SI NOV 85 2 \ DEC 1987 JAN 111 -J LI 1 111 111 FEB MAR APR MAY 1111 111 jjjj 111 111 1111 AUG SEP OCT NOV JUN JUL 1988 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28. 1988 JJJ- _LLL DEC JAN 1989 * DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA. BUSINESS LOANS 17 AND INDUSTRIAL ( COMMERCIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/ SEASONALLY ADJUSTED BILLIONS OF DOLLARS 305 i i---------- 1---------- 1------------- COMPOUWED ANNUAL RATES - OF CHANGE AVERAGE OF THE FOUR *EEKS ENDING DECEMBER 21, 1888 FROM _ THE FOUR KEtKS ENDING, - OCT. 18. _ SEf\ 21, AU( 3. 24, - JUl -. 20, _ JU2J. 22, MAf 23, ~ DEC 23, 1888 968 988 988 988 988 987 1.7 0.2 -1.0 -0.1 1.1 5.3 4.1 BILLIONS OF DOLLARS 305 -------- 7' AL A N\ rS\ r \r ifj ■\ - - 295 _ V A L 285 vy r - 290 1 98t jjj i 111 4 18 2 16 31 NOV DEC JAN 1987 III FEB jjj MAR i 111 111 APR MAY III! 111 JUN JUL 1968 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 21, 1988 - .mi 111 301,028 301,305 “ 301,516 300,395 _ 299.884 hum.....................Ml*1 AUG SEP OCT DEC. 111 u ILL 101 23 30 7 14 21 NOV DEC JAN 1989 1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER 2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 11.4 BILLION http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX AVERAGES OF DAILY FIGURES 1973-100 1973-100 90.8 4 19 2 10 SO IS 27 10 24 JAN FEB 9 23 I 0 APR 18 29 IS 27 10 24 7 21 8 19 2 16 SO 14 28 II 28 DEC MAY JAN LATEST DATA PLOTTED WEEK ENDING) JANUARY 4, 1989 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
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