Full text of U.S. Financial Data : July 18, 1991

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

©serve Sank

of St. Louis

~ US. financial Data
July 18, 1991

THE WEEK'S HIGHLIGHTS:
✓ The consumer price index (CPI-U) increased at a seasonally ad­
justed annual rate of 2.7percent in June, after rising at a rate of
3.6 percent in May. Consumer prices have increased at a rate of
2.7percent during the first six months of this year, compared with
6.2 percent for all of last year.
✓ Industrial production increased at a seasonally adjusted annual
rate of 8.2 percent in June. It has rebounded at a rate of 7.4 per­
cent from its low point in March.
✓ After seasonal adjustment, an annual rate of1,040,000 housing
units were started in June, the first time the starts rate has exceeded
one million since November 1990.
✓ Retail sales declined at a seasonally adjusted annual rate of 2
percent in June, after rising at a rate of 10.1 percent in May. June
sales were up 1.1 percent from their level a year earlier. Retail
sales data are not adjusted for inflation.

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

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Federal Reserve Bank of St. Louis

2

Adjusted Monetary Base
Averages ot Daily Hgures
Seasonally Adjusted

Billions of Dollars

1991
May

Billions of Dollars

Billions
1

333.3
335.4

Jun 12

335.5
337.5
335.7

Jul 10

2 IS 30 13 27 11 25 I 22 5 1» 3 17 31 H 20 12 26 J 23 6 20 8 20 3 17 1 15 20 12 26 10 24
May

Jun

Jul

Aug
Sep
1990

Oct

Nov

Dec

Jan

Feb

Mar

Apr
May
1991

Jun

Jul

Latest data plotted reserve maintenance period ending: July 10, 1991
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
to the average ot
two maintenance
periods ending:
12/12/90
1/9/91
2/6/91
3/6/91
4/3/91
5/15/91
6/12/91
7/10/91

Compounded annual rates of change, average of two maintenance periods ending:
4/3/91
5/15/91
2/6/91
3/6/91
7/11/90 10/3/90 12/12/90 1/9/91

9.1
10.9
12.4
12.0
11.7
9.8
9.3
9.0


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Federal Reserve Bank of St. Louis

9.7
12.5
11.8
11.4
8.9
8.2
8.0

22.1
17.4
15.4
10.6
9.4
8.9

15.5
13.4
8.3
7.3
7.1

9.0
4.5
4.2
4.4

2.8
2.9
3.5

0.5
1.9

4.4

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1991

Billions of Dollars

M1
Billions

Jun

3
10
17
24
Jul 1
8

850.6
856.5
860.4.
858.5
861.9
856.7

M1 (left

1991

■TCD (right scale)-

Jun

TCD
Billions

3
10
17
24
Jul 1
8

1 21

May

585.5
591.8
595.2
592.6
595.5
591.4

4 II 2 If 30 II 27 10 24 8 22 5 19 ] 17 31 14
Jun

Jul

Aug
Sep
1990

Oct

Nov

Dec

Jan

Latest data plotted week ending: July 8. 1991
Current data appear in the Federal Reserve Board's H.6 release.
M1 ls the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
To the average
of four weeks
ending:
12/10/90
1/7/91
2/11/91
3/11/91
4/8/91
5/6/91
6/10/91
7/8/91

Compounded annual rates of change, average of four weeks ending:
7/9/90
10/8/90 12/10/90 1/7/91
2/11/91 3/11/91
4/B/91
5/6/91

3.4
3.6
4.1
4.8
5.4
4.8
5.5
5.9


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Federal Reserve Bank of St. Louis

2.0
3.3
4.6
5.5
4.6
5.6
6.1

5.9
7.4
8.1
6.3
7.3
7.7

8.5
9.2
6.6
7.8
8.2

10.7
6.6
8.1
8.5

4.5
7.3
8.0

5.8
7.2

11.2

Prepared by Federal Reserve Bank of St. Louis

3

4

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

Billions of Dollars
3450
I

Billions of Dollars

2675

I

M2
1991
Billions
Jun

3400

3
10
17
24
Jul 1
8

3387.5
3400.9
3405.1
3.596.5
3v596.4
3*589.5

2625

M2 (l< ft

seal 0^

2575

3350

*•»

3300

2525

r

*»*

.
P

No n-M1 M2
199
Bill ons
Jun 3 2536.9 10 2544.4
17 2544.7
24 2538.0
Jul 1 2534.5
8 2532.8
....I.
..I...

seal 0

^ —’

3250

3200

i on-M1 M2 (ric ht

*

7 21 < 18 2 16 30 13 27 10 24 8 22 5 IS 3 17 31 14 21 11 25 11 25 8 22 6 20 3 17 1
May

Jun

Jul

Aug
Sep
1990

Oct

Nov

Dec

Jan

Feb

Mar

Apr
1991

May

Jun

15 2S

2475

2425

Jul

Latest data plotted week ending: July 8, 1991
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of M1. overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents
by 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.6 release.

Money Stock (M2)
To the average

Compounded annual rates of change, average of four weeks ending:
4/8/91*
5/6/91
7/9/90
10/B/90 12/10/90 1/7/91
2/11/91 3/11/91

ending:
12/10/90
1/7/91
2/11/91
3/11/91
4/8/91
5/6/91
6/10/91
7/8/91

2.3
2.2
2.6
3.1
3.5
3.3
3.4
3.1


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Federal Reserve Bank of St. Louis

0.9
1.8
2.9
3.5
3.2
3.3
3.0

3.2
4.6
5.2
4.4
4.3
3.7

5.9
6.2
5.1
4.7
4.0

7.4
5.3
4.8
4.0

4.1
4.0
3.1

2.6
1.9

2.2

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio
Compounded annual
rates of change,
average of the four
weeks ending
July 8, 1991 from
the four weeks ending:
Jul
9, 1990 -2.7
Oct 1, 1990 -1.8
Jan 7, 1991
1.0
Feb 4, 1991
4.2
Mar 4, 1991
4.5
Apr 1, 1991
6.2
May 13, 1991
6.9

Ratio
Apr 29
May 13
Jun 10
Jul

7 21
May

4 18 2 16 30 13 27 10 24 8 22 5 19 3 17 31 14 28
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
1990
Latest data plotted two weeks ending: July 8, 1991

25 II 25
Feb
Mar

8

2.522
2.537
2.546
2.545
2.547
2.561

- 2.9

8 22
Apr

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

270

26D

250

Billions of Dollars

-------- 1---------- 1----------- r
Compounded ann jal
rates of change,
average of the foi r
weeks ending
July 8, 1991 from
the four weeks en ding:
Jul 9. 1990 1 0.1
Oct 8, 1990 8.7
Jan 7, 1991
8.8
■ Feb 11. 1991
3.6
Ma 11. 1991
2.4
Ap
8, 1991
1.9
Ma ' 6, 1991
2.7

270

200

250

210

210
199 1
Jun

230

3

17
24
Jul 1
B

fiiliions
25 7.0
5.B
25 7.3
25 3.0
25 3.7
25 7.6

230

I

220
May

Jun

Jul

24
Aug
Sep
1990

8 22 5 19
Oct Nov

3 17
Dec

J1

H 21 11 2S
Jan
Feb

11 25
Mar

rr i i
i ■ i ■ 'm i ■ ■■ 1 '
! 1! 8 20 J 17 1 15 29
Apr May
Jun
Jul
l9g1

Latest data plotted week ending: July 8, 1991
1/ Ratio of Ml to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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Prepared by Federal Reserve Bank of St. Louis

5

220

6

Yields on Selected Securities
Percent

Percent

Averages of Daily Figures

Prim* Bonk
Loan kata

Aaa Bond*

4

18 1 15 2!
May
Jun

Jul

10 24 7 21
Aug
Sep
1990

5

19 2 16 30
Oct
Nov
Dec

11 25
Jan

8 22
Feb

Mar

Apr
1991

17 31 H 21
May
Jun

Jul

Latest data plotted are averages of rates available for the week ending: July 19, 1991

1991

90-Day
CDs

30-Day
Commercial
Paper

90—Day
Bankers'
Acceptances

6.08
5.91
5.91
5.93
5.91
5.90
6.07
6.12
6.03
6.05
6.04
6.02
5.96

6.07
5.93
5.92
5.93
5.91
5.91
6.02
6.10
6.05
6.08
6.06
6.02
5.97

5.92
5.75
5.75
5.76
5.76
5.76
5.91
5.98
5.93
5.94
5.93
5.92
5.90

Apr 26
May
3
10
17
24
31
Jun
7
14
21
28
Jul
5
12
19 +

Corporate
Aaa Bonds
8.89
8.83
8.83
8.89
8.86
8.87
8.93
9.01
9.05
9.04
9.04
9.04
8.99

Corporate
Baa Bonds

Municipal
Bonds *+

9.93
9.83
9.83
9.91
9.89
9.85
9.92
10.00
9.98
9.95
9.91
9.96
9.93

7.01
6.95
6.93
6.94
6.98
6.97
7.06
7.19
7.15
7.13
7.10
7.07
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


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Selected Interest Rates
Averages of Daily Figures

Treasury Securities

Federal
Funds Rate

Treasury

13 27 10 24 7 21
Jul
Aug
Sep
1990

Federal
Funds **

1991
Apr 26
May
3

Jun

7

19 *

5.92
5.92
5.79
5.78
5.79
5.72
5.91
5.75
5.78
5.79
6.34
5.79
5.85

5

I) 2 IS 30 14 28
Oct
Nov
Dec

11 25
Jan

I 22
Feb

3—Month
Treasury
Bill

6—Month
Treasury
Bill ***

1 —Year
Treasury
Bill

5—Year
Treasury

5.66
5.51
5.48
5.44
5.44
5.46
5.58
5.58
5.58
5.56
5.58
5.57
5.59

5.79
5.68
5.61
5.63
5.66
5.65
5.71
5.78
5.79
5.76
5.71
5.71
5.70

5.86
5.73
5.76
5.76
5.77
5.76
5.92
6.00
5.97
5.96
6.00
5.90
5.92

7.74
7.64
7.69
7.76
7.73
7.66
7.86
7.97
7.95
7.96
7.95
7.97
7.92

which are computed by this bank. Treasury billyields are on ^discount b^sis y
* Averages of rates available
** Seven-day averages for week ending two days earlier than date shown
*** Auction average (discount)


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Federal Reserve Bank of St. Louis

17 31

" '

14 21
Jun

12 28
Jul

Long-Term
Treasury

8.29
8.34
8.44

8.49

^ secum,es

Prepared by Federal Reserve Bank of St. Louis

7

8

Savings and Small Time Deposits
All Depository Institutions

Billions of Dollars

Billions of Dollars

1230

Savings
1991
Billions
Jun

3
10
17
24
Jul 1
8

435.6
437.9
439.2
439.9
440.5
441.5

1180

Small Tima (right scale)

1130
Small Time
1991
Billions
Jun

3
10
17
24
Jul 1
8

Savings Deposits (left scale)

II

2

18 30 13 27 10 24
Jul
Aug
Sep

8 22
Oct

5

19 3 17 31 14 28 11 25 11 25
Feb
Mar
Nov
Dec
Jan

8 22
Apr

6

1135.5
1132.9
1129.9
1127.2
1124.9
1122.7

1080

1030

20 3 17
May
Jun

Total and Large Time Deposits V
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars
Large Time
1991
Billions

Total Tims (left scale)

Jun

3
10
17
24
Jul 1
8

501.0
500.6
500.7
496.4
490.2
493.3

-Large Time (right scale)-

Total Time
1991
Billions
— Jun

3
10
17
24
Jul 1
8

7 21
May

4

2072.1
2071.4
2069.8
2063.5
2055.6
2057.5

18 2
Jun

18 30

13 27 10 24
Aug
Sep

22
Oct

5

19 3 17 31
Nov
Dec

14 21 11 25 11 25
Feb
Mar

8 22
Apr

6

20 3 17 1
May
Jun

15 29

Latest data plotted week ending: July 8, 1991
1 / Total time is the sum of savings deposits, and small and large time deposits; where large time deposits are
those issued in denominations of $100,000 or more.
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

Money Market Funds
General Purpose and Broker/Dealer

Billions of Dollars

no

370

Compounded ann

ial

390

rates of change,
average of the fo jr
weeks ending
July 8, 1991 from
the four weeks en ding:
Jul 9, 1990 0.5
Oct 8, 1990 9.3
Jan 7, 1991
8.4
Feb 11, 1991
2.9
Mar 11. 1991
0.5
Apr 8, 1991 - 3.1

.

350

370

ISO

1 99 .

330

Jun

Bill! ons

3
10
17
24
Jul 1
8

310

V' 1 '
May

Jun

!-■"! ■ i1
Jul

~i ■ i i1 Ml'1

1 i 1 1

Aug
Sep
1990

Oct

Nov

-ft ' l
„
Dec
Jan

365.4
364.8
365.0
364.0
362.7
361.6

...I...
Feb

Mar

22 S 21
Apr May
1991

3 17
Jun

1

15 29
Jul

330

310

Money Market Deposit Accounts
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

S60

-----

Billions of Dollars

.

560

1
1
Compounded annual
rates of change,
average of the four
weeks ending
July 8, 1991 from
the four weeks ending:
Jul 9. 1990 8.1
Oct 8
1990
Jan 7, 1991 15.7
Feb 11. 1991
Mar 11
1991
Apr 8, 1991
May fi
1991

1991
- Jun

3
10
1/
24
Jul 1
8

? 71
May

4 18 2 IS 30 13 27 ID 24
Jun
Jul
Aug
Sep
1990

1

22

5

Oct

19
Nov

3

17 31 H 2! 11
Dec

Jan

25

Feb

Mar

Apr
1991

Billions
538.6 541.5
543.4
542.3
542.8
545.9
1 1 1 ■ t

1 i ■
20 3 17 1 15
May
Jun
Jul

Latest data plotted week ending: July 8, 1991


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

9

10

Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1991

2

Billions

Jun 12
19
26
Jul 3
10
17

Billions of Dollars

0.349
0.264
0.363
0.869
0.332
0.448

IS 30
May

13 27 11 25 8 22 5 10
Jun
Jul Aug
Sep
1990

3

17 31 14 28 12 26
Oct
Nov
Dec

9 23 6 20
Jan
Feb

S 20
Mar

3

17 1 15 29 12 26 10 24
Apr
May
Jun
Jul

Adjustment + Seasonal Borrowings
From Federal Reserve banks
Averages of Daily Figures

Billions of Dollars

1991

Billions

Jun 12
19
26

0.346
0.258
0.354

10
17

Billions of Dollars

0.329
0.445

May

Jun

Latest data plotted week ending: July 17, 1991


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1991
Jun

Not Seasonally Adjusted

Billions of Dollars

Billions

5
148.393
151.237

Jul

2

3 1 48.849
148.129

If 30 13 27 11 25
Feb

1990

Mar

Apr

15 2$ 12 26
May
Jun

10 24

Latest data plotted week ending: July 10, 1991

Commercial and Industrial Loans1 /
Weekly Reporting Large Commercial Banks */

Billions of Dollars

370
360
350
MO

—1
1
I
Compounded annu al
rates of change,
average of the fou
weeks ending
July 3, 1991 from
the four weeks enc ing:
Jul 4. 1990
5.9
Oct 3, 1990
7.5
Jan 2. 1991
.8
Feb 6, 1991 -f . 8
Mar 6. 1991-1C .5 Apr 3,
991-12 .6
May 1, 991-1 .9

---------- 1---------1991

May 29 309.875—
Jun 5 310.090
12 307.922
19 309.245
Z6 306 .910—
Jul 3 308 003

360
3S0
340

330

330

320

320
>

310
300

370

Billions

310
r- ' i * r-| i ■ r
May

Jun

i ■ i
Jul

h-1 M i1

T-i 1 ■ Tn • i ' i

Aug
Sep
1990

Oct

Nov

r ■ i
Dec

300
Jan

Feb

Mar

Apr
1991

May

Jun

Jul

Latest data plotted week ending: July 3, 1991
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


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Federal Reserve Bank of St. Louis

11

Dollar's Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1973=100

1991 1973=100

2

IS 30 13 27 !1 25 8 22 5 IS 3 17 31 14 28
May
Jun
Jul Aug Sep
Oct
Nov
1990

12 2S
Dec

8 23 i 20
Jan Feb

S 20 3 17 1 15 2! 12 26 10 24
Mar
Apr
May
Jun
Jul
1991

Latest data plotted week ending: July 17. 1991
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


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Federal Reserve Bank of St. Louis

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