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eserve Bank
of St. Louis

JUi.2 8 1990

ttSrfinancial Data
July 19, 1990

THE WEEK'S HIGHLIGHTS:
s

Retail sales rose at a 6.6 percent annual rate in June, the first increase
since February. Since December of last year, retail sales have risen
at a 2.8 rate.

s’

Industrial production rose at a 5.6 annual rate in June, following
a 6.8 rate of increase in May.

s

Housing starts declined 2.3 percent in June, the fifth consecutive
monthly decline this year. Housing starts in June were 16.8 percent
below the level of a year ago.

s'

Consumer prices rose at a 6.7 percent annual rate in June, after
increasing at a 1.9 percent rate in both April and May. Since
December, consumer prices have increased at a 5.9 percent rate.

s

The merchandise trade deficit widened to $7.73 billion in May from
a revised $7.31 billion in April. Thus far this year, the trade deficit
has totaled $ 40.7 billion, down from $ 46.4 billion for the same
period in 1989.

THE
FEDERAL
A
X RESERVE
RANK of
nr st. UMTS

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
314

JUL

298

3

17 51 JUN
14 20 JUL
12 26

0 23

0 20
SEP
1989

4 10
OCT

1

15 29 13 27

10 24

7 21
FEB

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt JULY 11,

7 21
MAR

4 18
APR
1990

2 10 30 JUN
13 27 JUL
11 25

1990

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BANKS, CURRENCY IN CIRCULATION I CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
1TQRY INSTITUTIONS 1 AND AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES. THE MAJOR
" OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT. DATA ARE COMPUTED BY THIS
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 PERIOOS ENDING:
7/12/89

10/4/89 12/13/89

1/10/90

2/7/90

3/7/90

7.9
8.6
8.5
6.9
7.5

6.4
7.2
5.6
6.5

8.9
6.3
7.3

4/4/90

5/16/90

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS EM)INGt
12/13/89
1/10/90
2/ 7/90
3/ 7/90
4/ 4/90
5/16/90
6/13/90
7/11/90


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

3.6
5.2
6.2
5.8
6.2
6.5
6.0
6.3

5.8
7.4
6.6
7.1
7.3
6.5
6.9

13.5
9.9
9.9
9.5
8.0
8.3

4.9
6.5

5.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

.IONS OF DOLLARS

BILLIONS OF DOLLARS
825

809.4
817.7
810.2

785

1 10 20 12 20 10 24
MAY
JUN
JUL

7 21
4 10
AUG
SEP
1980

2 18 30 13 27 11 25 8 22
OCT
NOV
DEC
JAN

5 10
FEB

5 10
MAR

2 18 30 14 28 II 28 8 23
APR
MAY
JUN
JUL
1990

LATEST DATA PLOTTED MEEK ENDING. JULY 0. 1990
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS

H.B RELEASE.

Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS. OTHER CHECKABLE
DEPOSITS AND TRAVELERS CHECKS.

MMCY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDINGt
7/10/80

10/0/80 12/11/80

1/8/00

2/12/00

3/12/00

4/0/00

5/7/00

7.8
6.0
4.0
4.7

2.5
1.4
2.8

0.7
2.8

3.0

TO THE AVERAGE
OF FOUR REEKS
ENDING.
12/11/80
1/ 8/00
2/12/00
3/12/00
4/ 0/00
5/ 7/00
8/11/00
7/ 0/00

4.7
5.5
4.5
5.5
5.2
4.9
4.4
4.6


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

6.3
4.5
6.0
5.5
5.1
4.3
4.6

4.1
6.8
5.8
5.1
4.0
4.5

5.6
4.7
A.I
3.1
3.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

U

4

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK ^
RATIO
3.0 -------------1---------- 1------------1—
1990

RATIO
3.0

RATIO

APR.
MAY

30
14

2,635
2.630

JUN

11
25
9

2.633

JUL

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

2.9

2.8

2.8
Ml Ml LTIPL IER

2.7

V
*i in.
I IB
MAY

li l. mi in in
12
10 24 7 21
JUL
AUG
Si
JUN
1980

11 ii in i ii.
2 10 90 IB 27 11
OCT
NOV
DEC

2.6

im in
8 22 5 10
FEB
JAN

111

11L1
i n i
111
111
2 10 90 14 20 II 29 9 29
APR
MAY
JUN
JUL
1990

s

LATEST DATA PLOTTED TWO WEEKS ENDINBt JULY 9. 1990
BILLIONS OF DOLLARS
238

BILLIONS OF DOLLARS
238 “---------- 1---------- 1------------- 1---------_
r
r
—
_
_
_
_

—

COMPOUNDED ANNUAL RAT ES
OF CHANGE, AVERAGE OF
THE FOUR frEEKS ENDING
JULY 9. 1990 FROM
THE FOUR WEEKS ENDING t
MAY
7, 1990
9.1
APR.
9. 1990
9.0
MAR. 12, 1990
9.3
rtu :
Ii
io
Tb
JAN
1990
9.0
1989
OCT
JUL
10, 1989
7.7

234

r/

y

—

_

V

-

/

226

CURRI NCY
222

222
Ifl »

“

e ILL IQIS

JUN.

4
11

232.4
hit

jul.

*!

ifri

-

9

iLLL in 1111

111
111
IS 20 12 20 10 24 7 21 4 10
MAY
JUN
JUL
AUG
SEP
1989

■ 111
1111
111
111
2 10 90 19 27 II 2S 0 22
OCT
NOV
DEC
JAN

in
S 10
FEB

111
8 10
MAR

233.9
i i i i 1 i i i 1 i i i 1 i i i i‘
2 10 90 14 20 II 2S 0 29
APR
MAY
JUN
JUL
1990

LATEST DATA PLOTTED WEEK ENDINGi JULY 9, 1900
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

I I I I
I

IS 20 12 26 10 24

7 21

4 18

2 18 30 13 27 11

NOV

8 22

5 19

5 10

2

IS 50 14 28 II

DEC

MAY

25

0 23

JUN

1990
LATEST DATA PLOTTED WEEK ENDINGt JULY 9, 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 CHANGF.,
7/10/89

10/9/89 12/11/89

1/8/90

AVERAGE OF FOUR WEEKS ENDINGi

2/12/90

3/12/90

7.0
4.5
1.9
2.8

-0.2
-1.7
0.2

4/9/90

5/7/90

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90
5/ 7/90
6/11/90
7/ 9/90

5.0
5.7
3.7
4.9
4.4
3.9
3. 1
3.3


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

6.4
2,8
4.9
4.1
3.5
2.4
2.8

0.5
4.6
3.5
2.8
1.4
2. 1

2.7
1 .8
1 .3
0. 1
1.1

-2.4
0.3

0.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

1 i

.0

10.0

CORPORATE
Aaa bonds

5 19

MAY

2

10 30 14 28 11

JUN

JUL

AUG

25

8 22

SEP
1989

8 20

3 17

I

OCT

NOV

DEC

IS 29 12 26

JAN

9 23

FEB

9 23

MAR

6 20

APR
1990

4 18

MAY

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JULY 20,

1990
MAY

4
1 1
18
25
JUNE
1
8
15
22
29
JULY
6
13
20 X
27

I

15 29 13 27

JUN

JUL

1990.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

8.56
8.37
8.29
8.29
8.25
8.22
8.21
8.24
8.27
8.24
8.25
8.05

8.36
8.26
8.21
8. 19
8. 18
8. 17
8.18
8.24
8.25
8.23
8.23
8.04

8.29
8.13
8.09
8.06
8.01
7.96
7.99
8.03
8.04
7.98
7.98
7.83

9.62
9.54
9.39
9.39
9.38
9.27
9.21
9.26
9.27
9.23
9.26
9.24

10.54
10.49
10.36
10.34
10.29
10.21
10. 19
10.24
10.25
10.20
10.23
10.18

7.54
7.39
7.29
7.26
7.26
7.21
7.20
7.28
7.27
7.24
7.21
N. A.

NOTEt
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE.
« AVERAGES OF RATES AVAILABLE
XX BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY 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

11.0

10.0

TREASURY

I TIES

7.0

DISCOUNT RATE

6.0

5 10

2 10 SO 14 2® II

JUL

25

8 22

AUG

8 20

5 17

OCT

NOV

I

19 20 12 28

JAN

0 23

0 23

FEB

1989

8 20

4 18

APR
1990

MAY

1

19 20 19 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK END INGi JULY 20. 1990.

1990
MAY

4
1 1
18
25
JUNE
1
8
15
22
29
JULY 6
13
20 X
27

FEDERAL
FUNDS KM

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL mm

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.12
8.20
8.16
8.22
8. 19
8.26
8.30
8.28
8.28
8.33
8.28
8. M

7.85
7.74
7.67
7.71
7.74
7.70
7.70
7.74
7.77
7.71
7.73
7.59

8.03
7.84
7.68
7.79
7.74
7.62
7.64
7.64
7.67
7.60
7.75
7.52

7.94
7.75
7.66
7.64
7.61
7.51
7.50
7.57
7.57
7.49
7.53
7.35

9.01
8.79
8.67
8.64
8.52
8.41
8.39
8.47
8.45
8.36
8.43
8.31

9.11
8.93
8.78
8.78
8.71
8.58
8.55
8.63
8.63
8.58
8.67
8.62

NOTE,

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE EXCLUDING LONG-TERM TREASURY
SECURITIES WHICH ARE COMPUTED BY THIS BANK. TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
M AVERAGES OF RATES AVAILABLE
XK SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
X** AUCTION AVERAGE (DISCOUNT )


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

MONEY STOCK ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
3500

BILLIONS
3262.0
3267.0
3270.3
3271.7
3277.5
3274.8

3250

3250

3125

3100

M II
I

15 29 12 20 10 24

7 21

4 !•

2 It 30 19 27 11 29

AUG
SEP
1989

NOV

8 22

DEC

5 10

S 10

FEB

MAR

2 18 SO 14 28 II

MAY

29

0 23

JUN

LATEST DATA PLOTTED WEEK ENDING: JULY 9, 1990
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE
M2 IS THE SUM OF M
TO U.S. RESIDENTS L
SMALL TINE DEPOSITS,
_
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
7/10/89

10/9/89 12/11/89

1/8/90

2/12/90

3/12/90

6.0
4.3
2.2
2.6

2.3
0.4
1.3

4/9/90

5/7/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90
5/ 7/90
6/11/90
7/ 9/90

7.5
7.4
7.0
7. 1
6.8
6.2
5.3
5.2


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

7.3
6.6
6.9
6,4
5.7
4.5
4.4

5.8
6.6
5.9
4.9
3.5
3.6

6.4
5.6
4.5
2.8
3.0

-1.0
0.6

0.4

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

BILLIONS OF DOLLARS

2190

2190
COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE F0UR9EEKS ENDING

2100

2100

2130

TOTAL TIME DEPOSITS

— FEB

2100

2100

1290.

BILLIONS

2040

2040

HI I 1 111 1 111
LATEST DATA PLOTTED VEEK ENDING* JULY 9, I!
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

1990

BILLIONS

LARGE TIME DEPOSITS

15 29 12 28 10 24

7 21
AUG

4 10
SEP

2 10 30 13 27 11
NOV
DEC

• 22

5 10
FEB

5 10
MAR

2 18 90 14 28 II

0 29

1990
LATEST DATA PLOTTED WEEK ENDING* JULY 9. 1990
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS. SMALL TIME DEPOSITS AND LARGE TIME 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

BILLIONS OF DOLLARS

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK END I NS t JULY IB, 1900
BILLIONS OF DOLLARS
2.5

BILLIONS OF DOLLARS

2.0

ADJUS1

+ SEASONAL
1.5

1.0

0.5

3 IT 51 14 26 12 26

0 29

LATEST DATA PLOTTED


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

8 20

4 18

15 28 19 27 10 24

7 21

7 21

4 18

2 16 90 13 27 II 28

ENDINBt JULY IB, 1990

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0.0

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
160 r:---------- ,---------- ,----1900

BILLIONS OF DOLLARS
-------------------- --------zn 160

MILLIONS

JUN.

6
15

148,225
148,619

JUL.

4

147,699

I I I I
3 17 31 14 28 12 26 0 23 6 20
MAY
JUN
JUL
AUG
SEP
1989

4 16
OCT

I 15 29 13 27 10 24
NOV
DEC
JAN

7 21
FEB

7 21
MAR

4 16
APR
1990

2 16 30 13 27 II 25
MAY
JUN
JUL

LATEST DATA PLOTTED WEEK ENDING* JULY II, 1990

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
336

BILLIONS OF DOLLARS
336

" COMPOUNDED ANNUAL RAT ES
_ OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
- JULY 4. 1990 FROM
_ THE FOUR WEEKS ENDING

“
_

- MAY
APR.
MAR.
FEB.
JAN.

2,
4,
7.
7,
3,

1990
1990
1990
1990
1990

-2.8
0.6
2.1
1.8
0,4

_ JUL!

5,

1 989

1.3

-

tv

n

320
-

r V\
r

A/

/

?i in
MAY

111

111

JUN

JUL

IJII
111
23
AUG
SEP
1989

-l-U

-LLLL

OCT

NOV

111

-LLLL _LLL

15 29 IS 27

DEC

10 24

JAN

aA r

A

rA 11

1991

hi

MAR

1ILLI0N5

MAY 30
3 20, 19 2
JUN.
13
320,908
20
322.671
“
27
320,305
JUL. 4
323,151
_
-in 11111 ii 111111;

21

FEB

324

2

APR
1990

16 30 13 27

MAY

JUN

II

25

JUL

LATEST DATA PLOTTED WEEK ENDING* JULY 4, 1990
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BAMtS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST.

11

LOUIS

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

1973-100

----- no

3 17 31

MAY

14 28 12 28

JUN

JUL

8 23

8 20

AUG
SEP
1989

4 18

OCT

I

IS 28 13 27 10 24

NOV

DEC

JAN

7 21

7 21

4 18

FEB

MAR

APR
1990

2 18 30 13 27 11 2S

MAY

JUN

JUL

LATEST DATA PLOTTED WEEK ENDINGt JULY 18. 1990
NOTEt

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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