Full text of U.S. Financial Data : July 17, 2003
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USFinancialData
July 17, 2003
Calendar of Releases
Titles below are links to their respective web sites.
MONDAY*
July 14
July 21
TUESDAY
WEDNESDAY
THURSDAY*
FRIDAY
July 15
July 16
July 17
July 18
Advance Monthly
Sales for Retail and
Food Services
Manufacturing and
Trade: Inventories
and Sales
Latest issue of
Monetary Trends
Consumer Price
Index
Monetary Policy
Report to the
Congress
Industrial Production
and Capacity
Utilization
July 22
July 23
New Residential
Construction
July 24
July 25
Monthly Treasury
Statement
New Residential Sales
U.S. Leading Index
Advance Report on
Durable Goods
Existing Home Sales
July 28
Latest Issue of
International
Economic Trends
July 29
Consumer
Confidence
July 30
Summary of Current
Economic Conditions
(Beige Book)
July 31
August 1
Gross Domestic
Product
ISM Report on Business
Manufacturing
Employment Cost
Index
Construction Put in
Place
Help Wanted Index
Personal Income and
Outlays
The Employment
Situation
*The Board of Governors of the Federal Reserve System provides H.3, H.4.1, and H.6 releases each Thursday and H.10 and
H.15 releases each Monday. The U.S. Department of Labor provides initial unemployment claims each Thursday.
research.stlouisfed.org
Contents
Page
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Adjusted Monetary Base
Adjusted Reserves
MZM
M2
Yields on Selected Securities
Yields on Nominal and Inflation-Indexed Treasury Securities
Federal Funds Futures Market
Equity Price Indices
Crude Oil Prices
Natural Gas Prices
Exchange Rates
Currency, Savings, and Small Time Deposits
Large Time Deposits, Retail Money Funds, and Borrowings from Federal Reserve Banks
Bank Loans
Commercial Paper
Reference Tables
Notes
Conventions used in this publication:
1. Unless otherwise indicated, data are weekly and seasonally adjusted.
2. For pages 7, 10, 12 (top chart), 13, and 18 (top and bottom right tables), the last observation is a daily average that
incorporates all available data at the time of publication, which usually includes observations for the first three trading
days of the week (Monday through Wednesday). The previous observations signify that week’s average.
We welcome your comments addressed to:
Editor, U.S. Financial Data
Research Division
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, MO 63166-0442
or to:
stlsFRED@stls.frb.org
U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of St. Louis. For more information on data in this publication, please visit research.stlouisfed.org/fred2
or call (314) 444-8590. To be added to our free email notification list, please visit our web site at research.stlouisfed.org/publications/usfd2.
updated through
07/18/03
U.S. Financial Data
Adjusted Monetary Base
Averages of Daily Figures, Seasonally Adjusted
Billions of dollars
750
740
730
720
710
700
690
680
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
Adjusted Monetary Base
To the average of
two maintenance
periods ending:
Compounded annual rates of change, average of two maintenance periods ending:
07/10/02
10/02/02
12/11/02
01/08/03
02/05/03
03/05/03
04/16/03
12/11/02
5.0
01/08/03
4.5
4.5
02/05/03
6.3
7.5
10.0
03/05/03
6.7
8.0
9.9
14.4
04/16/03
6.5
7.4
8.4
10.5
7.2
05/14/03
6.4
7.1
7.8
9.2
6.6
5.3
06/11/03
6.4
7.0
7.6
8.7
6.5
5.6
5.6
07/09/03
5.9
6.3
6.5
7.3
5.3
4.3
3.7
05/14/03
3.0
Research Division
Federal Reserve Bank of St. Louis
3
updated through
07/18/03
U.S. Financial Data
Adjusted Reserves
Seasonally Adjusted
Billions of dollars
95
92
89
86
83
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
Adjusted Reserves
To the average of
two maintenance
periods ending:
Compounded annual rates of change, average of two maintenance periods ending:
07/10/02
10/02/02
12/11/02
01/08/03
02/05/03
03/05/03
04/16/03
12/11/02
17.9
01/08/03
17.8
29.0
02/05/03
13.3
18.5
1.6
03/05/03
6.1
6.3
-12.4
-24.3
04/16/03
6.0
6.0
-6.9
-12.9
-13.2
05/14/03
5.4
5.2
-5.7
-10.2
-9.7
2.9
06/11/03
8.5
9.4
1.1
-1.6
0.9
14.4
21.9
07/09/03
6.8
7.1
-0.6
-3.1
-1.4
8.1
9.6
05/14/03
14.8
Research Division
4
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
MZM
Averages of Daily Figures, Seasonally Adjusted
Billions of dollars
6500
6400
6300
6200
6100
6000
5900
5800
5700
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
MZM
To the average
of four weeks
ending:
Compounded annual rates of change, average of four weeks ending:
07/08/02
09/30/02
12/09/02
01/06/03
02/03/03
03/03/03
04/14/03
12/09/02
10.3
01/06/03
8.9
9.9
02/03/03
7.9
8.0
1.3
03/03/03
7.9
8.0
3.5
4.8
04/14/03
6.5
6.1
2.1
2.3
2.6
05/12/03
7.0
6.7
3.7
4.3
5.1
3.9
06/09/03
7.4
7.4
5.1
5.8
6.8
6.4
12.1
07/07/03
8.5
8.8
7.2
8.2
9.4
9.7
15.4
05/12/03
17.5
Research Division
Federal Reserve Bank of St. Louis
5
updated through
07/17/03
U.S. Financial Data
M2
Averages of Daily Figures, Seasonally Adjusted
Billions of dollars
6100
6000
5900
5800
5700
5600
5500
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
M2
To the average
of four weeks
ending:
Compounded annual rates of change, average of four weeks ending:
07/08/02
09/30/02
12/09/02
01/06/03
02/03/03
03/03/03
04/14/03
12/09/02
7.9
01/06/03
7.0
6.3
02/03/03
7.2
6.8
5.5
03/03/03
7.7
7.6
7.5
10.1
04/14/03
6.7
6.1
5.2
6.0
4.9
05/12/03
7.5
7.4
7.2
8.3
8.2
6.9
06/09/03
8.0
8.1
8.2
9.3
9.4
8.8
15.2
07/07/03
8.3
8.5
8.7
9.7
9.8
9.5
14.1
05/12/03
12.7
Research Division
6
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
Yields on Selected Securities
Averages of Daily Figures
Percent
7
Corporate Aaa
6
5
Prime Rate
4
3
2-Year Swap
2
1
Commercial Paper
0
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
May
Apr
Jun
Jul
2003
Percent
6
5
10-Year Treasury
4
3
Federal Funds Rate
2
Intended Federal Funds Rate
1
3-Month Treasury
0
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2003
Research Division
Federal Reserve Bank of St. Louis
7
updated through
07/17/03
U.S. Financial Data
10-Year Treasury Note Yield
Averages of Daily Figures
Percent
6
5
4
3
2
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
2003
May
Jun
Jul
Dec
Jan
Feb
Mar
Apr
2003
May
Jun
Jul
Jan
Feb
Mar
Apr
2003
May
Jun
Jul
2002
10-Year Inflation-Indexed Treasury Yield
Averages of Daily Figures
Percent
4
3
2
1
May
Jun
Jul
Aug
Sep
Oct
Nov
2002
10-Year Inflation-Indexed Treasury Yield Spread
Averages of Daily Figures
Percent
3.0
2.0
1.0
0.0
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Research Division
8
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
Rates on Federal Funds Futures Contracts
Daily Data
Percent
1.3
1.2
Jul 2003
Aug 2003
||
||
|
1.1
Intended Target Rate
1.0
Sep 2003
0.9
0.8
Feb
Mar
May
Apr
Jun
Jul
2003
Rates on Federal Funds Futures on Selected Dates
Percent
1.05
1.00
Intended Target Rate as of 07/16/03
07/16/03
0.95
05/20/03
0.90
06/18/03
0.85
0.80
Jul 2003
Aug 2003
Sep 2003
Oct 2003
Nov 2003
Dec 2003
Contract Month
Research Division
Federal Reserve Bank of St. Louis
9
updated through
07/17/03
U.S. Financial Data
Dow Jones Industrial Average
Averages of Daily Figures
10500
10000
9500
9000
8500
8000
7500
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
Wilshire 5000 and Standard & Poor’s 500
Averages of Daily Figures
January 2, 1980 = 1078.29
1941-43 = 10
11000
1100
10500
1050
10000
1000
9500
950
S&P* (right scale)
9000
900
8500
850
Wilshire** (left scale)
8000
800
7500
750
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2003
*Copyright 2003 The McGraw-Hill Companies, Inc. Standard & Poor’s including its subsidiary corporations ("S&P") is a division of
The McGraw-Hill Companies, Inc. Reproduction of this data in any form is prohibited without S&P’s prior written permission.
**Source: Wilshire Associates Incorporated, www.wilshire.com
Research Division
10
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
Crude Oil Spot Prices
West Texas Intermediate, Averages of Daily Figures*
Dollars per barrel
40
36
32
28
24
20
May
Jun
Aug
Jul
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
*Averages are for the week-ending Tuesday.
Crude Oil Futures Prices
West Texas Intermediate
Dollars per barrel
32
31
30
07/09/2003
29
07/16/2003
28
27
26
Aug
Sep
Oct
2003
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2004
Research Division
Federal Reserve Bank of St. Louis
11
updated through
07/17/03
U.S. Financial Data
Natural Gas Spot Prices
Henry Hub, Averages of Daily Figures
Dollars per million btu
14
12
10
8
6
4
2
May
Jun
Aug
Jul
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
May
Apr
Jun
Jul
2003
Natural Gas Futures Prices
Henry Hub
Dollars per million btu
6.50
6.00
07/09/2003
5.50
5.00
07/16/2003
4.50
Aug
Sep
Oct
2003
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2004
Research Division
12
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
Trade-Weighted Exchange Rate Indexes
Averages of Daily Figures
March 1973=100
January 1987=100
115
135
110
130
Broad Index (right scale)
105
125
100
120
Major Index (left scale)
95
115
90
110
85
105
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
Exchange Rates
Averages of Daily Figures
Euro/US$
Yen/US$
1.15
136
1.10
132
1.05
128
Euro (left scale)
1.00
124
0.95
120
Japan (right scale)
0.90
116
0.85
112
0.80
108
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2003
Research Division
Federal Reserve Bank of St. Louis
13
updated through
07/17/03
U.S. Financial Data
Currency Component of M1
Averages of Daily Figures, Seasonally Adjusted
Billions of dollars
660
640
620
600
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
Savings and Small Time Deposits
Averages of Daily Figures, Seasonally Adjusted
Billions of dollars
Billions of dollars
970
3100
950
3000
930
2900
910
Small Time (left scale)
2800
890
2700
Savings (right scale)
870
2600
850
2500
830
2400
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2003
Research Division
14
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
Large Time Deposits and Retail Money Funds
Averages of Daily Figures, Seasonally Adjusted
Billions of dollars
1000
950
Retail Money
900
850
800
Large Time
750
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
May
Jun
Jul
2003
Total Borrowings from Federal Reserve Banks
Averages of Daily Figures
Billions of dollars
1.0
0.8
0.6
0.4
0.2
0.0
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
2003
Research Division
Federal Reserve Bank of St. Louis
15
updated through
07/17/03
U.S. Financial Data
Bank Loans and Credit
All Commercial Banks in the United States, Seasonally Adjusted
Billions of dollars
Billions of dollars
6300
4900
6100
4700
Bank Credit (left scale)
5900
4500
5700
4300
5500
4100
Loans and Leases (right scale)
5300
3900
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
2003
Commercial and Industrial Loans
Seasonally Adjusted
Billions of dollars
Billions of dollars
1025
525
1000
500
Large Banks (right scale)
975
475
950
450
All Banks (left scale)
925
425
900
400
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2003
Research Division
16
Federal Reserve Bank of St. Louis
updated through
07/17/03
U.S. Financial Data
Commercial Paper of Nonfinancial Companies
Not Seasonally Adjusted
Billions of dollars
205
185
165
145
125
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2002
Apr
May
Jun
Jul
May
Jun
Jul
2003
Commercial Paper of Financial Companies
Not Seasonally Adjusted
Billions of dollars
1240
1220
1200
1180
1160
1140
1120
May
Jun
Jul
Aug
Sep
2002
Oct
Nov
Dec
Jan
Feb
Mar
Apr
2003
Research Division
Federal Reserve Bank of St. Louis
17
updated through
07/18/03
U.S. Financial Data
Interest Rates
Percent
Apr
May
Jun
Jul
2-Year
Interest
Corporate Corporate Municipal
Rate Swap Aaa Bonds Baa Bonds
Bonds
5-Year
Treasury
Securities
90-Day
CDs
25
1.23
1.26
1.89
5.68
6.79
4.66
1.26
1.14
1.66
2.97
3.97
4.97
2
1.22
1.24
1.78
5.56
6.68
4.58
1.28
1.11
1.56
2.88
3.92
4.90
9
1.20
1.23
1.69
5.42
6.52
4.50
1.26
1.09
1.48
2.70
3.77
4.81
16
1.22
1.23
1.62
5.23
6.39
4.35
1.25
1.05
1.44
2.52
3.56
4.62
23
1.21
1.21
1.51
5.01
6.23
4.30
1.27
1.04
1.36
2.35
3.38
4.42
30
1.23
1.22
1.52
5.05
6.24
4.31
1.24
1.09
1.33
2.32
3.39
4.46
6
1.21
1.18
1.45
5.00
6.22
4.27
1.26
1.05
1.25
2.27
3.36
4.46
13
1.10
1.05
1.32
4.84
6.08
4.21
1.24
0.92
1.14
2.13
3.20
4.32
20
0.99
0.96
1.37
4.93
6.17
4.35
1.25
0.84
1.22
2.27
3.31
4.42
27
0.97
0.98
1.43
5.06
6.26
4.47
1.21
0.86
1.28
2.36
3.42
4.54
Federal
Funds
3-Month
Treasury
Bill
2-Year
Treasury
Securities
30-Day
Comm.
Paper
10-Year
Treasury
Treasury Long-Term
Securities Average
4
1.01
1.05
1.52
5.20
6.36
4.51
1.13
0.87
1.31
2.49
3.58
4.67
11
1.01
1.04
1.55
5.30
6.42
4.56
0.96
0.88
1.35
2.60
3.72
4.78
18 *
1.00
1.04
1.60
5.45
6.55
.
1.02
0.89
1.43
2.76
3.88
4.93
*Averages of rates available
Money Stock and Components
Reserves and Base
Billions of dollars, seasonally adjusted
Billions of dollars, seasonally adjusted
M2
May
Jun
Jul
MZM
Currency
Small
Time
Savings
Large
Time
Retail
Money
26
6011.7
6276.7
646.5
862.6
2982.1
818.5
897.6
2
6021.2
6287.0
646.3
860.7
3004.0
818.6
895.2
9
6023.2
6287.6
646.9
858.9
3012.1
824.6
891.3
16
6047.3
6318.6
646.5
857.3
3027.8
809.2
885.3
23
6052.5
6335.2
646.3
855.6
3037.6
817.9
886.8
30
6074.1
6413.2
645.9
851.8
3045.9
809.3
892.3
7
6092.9
6436.3
645.4
848.0
3089.5
857.7
887.4
Bank Loans and Credit
Adjusted
Monetary
Base
Adjusted
Reserves
16
732.565
88.965
30
737.759
90.177
May
14
736.943
90.069
28
744.166
95.039
Jun
11
737.509
90.805
25
740.454
91.365
9
741.076
92.757
Apr
Jul
Exchange Rates
Billions of dollars, seasonally adjusted
Jun
Jul
Bank
Credit
Loans and
Leases
C&I
Loans
(All)
C&I
Loans
(Large)
Comm.
Paper
(nsa)
Major
Broad
Exchange
Exchange Exchange
Rate:
Rate Index Rate Index Euro/$
Total
Borrowings
4
6174.8
4311.3
925.5
462.8
139.2
0.076
6
88.8
117.9
0.851
118.6
11
6176.2
4323.0
922.0
460.4
137.2
0.062
13
88.4
117.9
0.850
117.7
18
6170.9
4329.0
922.9
460.3
138.6
0.074
20
88.3
117.6
0.852
118.3
25
6161.9
4323.4
918.7
461.1
137.1
0.407
2
6210.0
4363.1
923.8
464.9
135.1
0.188
134.8
9
16
.
.
.
.
.
.
.
.
136.6
Jun
Exchange
Rate:
Yen/$
27
89.2
118.2
0.870
118.4
4
89.0
118.1
0.868
119.1
0.099
11
90.1
118.8
0.883
118.0
0.114
18 *
90.7
119.2
0.889
117.7
Jul
*Averages of rates available
Research Division
18
Federal Reserve Bank of St. Louis
U.S. Financial Data
Definitions
M1: The sum of currency held outside the vaults of depository institutions,
Federal Reserve Banks, and the U.S. Treasury; travelers checks; and demand
and other checkable deposits issued by financial institutions (except demand
deposits due to the Treasury and depository institutions), minus cash items in
process of collection and Federal Reserve float.
M2: M1 plus savings deposits (including money market deposit accounts) and
small-denomination (less than $100,000) time deposits issued by financial
institutions; and shares in retail money market mutual funds (funds with initial investments of less than $50,000), net of retirement accounts.
M3: M2 plus large-denomination ($100,000 or more) time deposits; repurchase agreements issued by depository institutions; Eurodollar deposits,
specifically, dollar-denominated deposits due to nonbank U.S. addresses held
at foreign offices of U.S. banks worldwide and all banking offices in Canada
and the United Kingdom; and institutional money market mutual funds (funds
with initial investments of $50,000 or more).
Notes
Page 3: Adjusted Monetary Base equals the sum of currency in circulation
outside Federal Reserve Banks and the U.S. Treasury, deposits of depository
financial institutions at Federal Reserve Banks, and an adjustment for the
effects of changes in statutory reserve requirements on the quantity of base
money held by depositories. This series is a spliced chain index; see Anderson
and Rasche (1996a, 1996b, 2001).
Page 4: Adjusted Reserves is defined as the sum of vault cash and Federal
Reserve Bank deposits held by depository institutions and an adjustment for
the effects of changes in statutory reserve requirements on the quantity of base
money held by depositories. This series, a spliced chain index, is numerically
larger than the Board of Governors’ measure, which excludes vault cash not
used to satisfy statutory reserve requirements and Federal Reserve Bank
deposits used to satisfy required clearing balance contracts; see Anderson and
Rasche (1996a, 2001).
Page 5: MZM includes the zero maturity, or immediately available, components
of M3. MZM equals M2 minus small-denomination time deposits, plus institutional money market mutual funds (that is, the money market mutual funds
included in M3 but excluded from M2). The label MZM, or “Money, Zero
Maturity,” was coined by William Poole (1991) for this aggregate, proposed
earlier by Motley (1988). Readers are cautioned that since early 1994 the level
and growth of M1 have been depressed by retail sweep programs that reclassify
transactions deposits (demand deposits and other checkable deposits) as savings
deposits overnight, thereby reducing banks’ required reserves; see Anderson
and Rasche (2001) and research.stlouisfed.org/aggreg/swdata.html.
Page 7: Current data appear in the Federal Reserve Board’s H.15 release,
except for the Intended Federal Funds Rate. Federal Funds Rate represents
seven-day averages for the week ending two days earlier than the date shown
in the release.
Page 8: 10-Year Inflation-Indexed Treasury Yield is the most recently
issued inflation-indexed bond of 10-year original maturity. 10-Year InflationIndexed Treasury Yield Spread equals the difference between the yield on
the most recently issued 10-year inflation-indexed bond and the unadjusted
10-Year Treasury Note Yield of similar maturity.
Page 13: Data appear in the Federal Reserve Board’s H.10 release. The Major
Index comprises 7 currencies. The Broad Index comprises the Major Index
plus 19 additional currencies. Further details may be found at
www.federalreserve.gov/releases/h10/summary/.
Page 14: Data appear in the Federal Reserve Board’s H.6 release. Savings
Deposits is the sum of money market deposit accounts and passbook and statement savings. Small Time Deposits have a minimum initial maturity of 7 days.
Savings deposits and small time deposits are at all depository institutions.
Page 15: Data appear in the Federal Reserve Board’s H.6 release. Large Time
Deposits are deposits of $100,000 or more. Retail Money Funds are included
in M2. Retail money funds were originally called general purpose and broker/
dealer money market funds. Large time deposits and retail money funds are
at all depository institutions.
As of January 9, 2003, Total Borrowings includes primary, secondary, and
seasonal credit. Prior to that, borrowings include seasonal, adjustment, and
extended credit.
Page 16: Data appear in the Federal Reserve Board’s H.8 release. Bank Loans
and Credit include foreign-related institutions. Bank Credit includes loans
and leases and securities. All Banks includes foreign-related institutions.
Large Banks are domestically chartered banks (adjusted for mergers) and
report on a weekly basis.
Page 17: Current data appear at www.federalreserve.gov/releases/cp/table1.htm.
Page 18: Treasury Security yields are Treasury constant maturities as reported in the Board of Governors of the Federal Reserve System’s H.15 release.
The 3-Month Treasury Bill yield is the secondary market yield from the H.15
release. Federal Funds represents seven-day averages for the week ending
two days earlier than the date shown in the table. Municipal Bonds represents
Bond Buyer’s Average Index of 20 municipal bonds, Thursday data.
Sources
Board of Governors of the Federal Reserve System
Monetary aggregates and components: H.6 release. Bank credit: H.8 release.
Total Borrowings: H.4.1 release. Interest rates: H.15 release. Exchange
rates: H.10 release. Commercial paper: Board of Governors web site.
Chicago Board of Trade
Federal funds futures contract.
Dow Jones Indexes
Dow Jones Industrial Average.
Federal Reserve Bank of St. Louis
Adjusted monetary base, adjusted reserves, and MZM.
Standard & Poor’s
Standard & Poor’s 500 composite index.
U.S. Department of the Treasury
U.S. inflation-indexed security yields.
Wall Street Journal
Oil (West Texas intermediate) and natural gas (Henry Hub) spot and
futures prices.
Wilshire Associates Incorporated (www.wilshire.com)
Wilshire 5000 .
Page 9: Rates on Federal Funds Futures Contracts trace through time the
yield on three specific contracts. Rates on Federal Funds Futures on Selected
Dates displays a single day’s snapshot of yields for contracts expiring in the
months shown on the horizontal axis.
Page 11: Crude Oil (West Texas intermediate) spot and futures prices are listed
in the Wall Street Journal. Spot Prices are weekly averages of daily prices for
the week ending Tuesday; Futures Prices are usually taken on Wednesday.
Page 12: Natural Gas (Henry Hub) spot and futures prices are listed in the
Wall Street Journal. Spot Prices are weekly averages of daily prices; Futures
Prices are usually taken on Wednesday.
Research Division
Federal Reserve Bank of St. Louis
19
U.S. Financial Data
References
Anderson, Richard G. and Robert H. Rasche (1996a). “A Revised Measure of
the St. Louis Adjusted Monetary Base,” Federal Reserve Bank of St. Louis
Review, March/April, 78(2), pp. 3-13.
____ and ____(1996b). “Measuring the Adjusted Monetary Base in an Era of
Financial Change,” Federal Reserve Bank of St. Louis Review, November/
December, 78(6), pp. 3-37.
Motley, Brian (1988). “Should M2 Be Redefined?” Federal Reserve Bank of
San Francisco Economic Review, Winter, pp. 33-51.
Poole, William (1991). Statement before the Subcommittee on Domestic
Monetary Policy of the Committee on Banking, Finance and Urban Affairs,
U.S. House of Representatives, November 6, 1991. Government Printing
Office, Serial No. 102-82.
Note: Articles from this Bank’s Review are available on the Internet at
research.stlouisfed.org/publications/review/.
____ and ____(2001). “Retail Sweep Programs and Bank Reserves, 1994-1999,”
Federal Reserve Bank of St. Louis Review, January/February, pp. 51-72.
20
Research Division
Federal Reserve Bank of St. Louis
@FedFRASER