Full text of U.S. Financial Data : July 28, 1994

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

5

ft 1

^r$ulyJ8, 1994
’aim

Louis

Fin ncial Data
THE WEEK'S HIGHLIGHTS:
\/ New orders for durable goods increased 1.3 percent in June following
a revised 1.2 percent increase in May. Excluding defense, new orders
rose 1.5 percent, after rising only 0.6 percent in May. Year-to-date
new orders for durable goods are up 13.3 percent over the same
period last year.
The U.S. goods and services trade deficit measured $9.2 billion in
May, up from April’s $8.5 billion deficit. The trade deficit measured
$42.0 billion for the first five months of 1994, up sharply from
$25.8 billion during the same period last year.
t/ Privately owned housing starts were 1.351 million at an annual rate
in June, 9.8 percent below the revised May rate of1.497 million.
Building permits declinedfor the second consecutive month in June,
falling 3 percent.

✓ The employment cost indexfor total compensation ofprivate industry
workers increased at a 3.7 percent annual rate from March to June
1994, up from a 2.7 percent rate of increase during the previous
three-month period. Since June 1993, the employment cost index
has risen 3.3 percent.

All data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research and Public Information Division of the
Federal Reserve Bank of St. Louis. The cost for a subscription is $21 for one year (50 issues) or
$36 for two years (100 issues). For more information or to request an order form, please call
(314) 444-8808 or (314) 444-8809.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at (314) 621-1824.

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

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1994-

Billions

May 11
Jun

B

438.3
441.9
441.8

Jul

6

444.2

2 If 31 14 21 11 25 • 22 8 20 3 17 1 15 2) 12 2f ! 23
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Billions of Dollars

5 23 f 21 4 II 1 15 2S 13 27 II 24
Mar

1993

Apr

May

Jun

Jul

Aug

1994

Latest data plotted reserve maintenance period ending: July 20, 1994
The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve banks,
cumency 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 Federa
Reserve credit. Data are computed by this bonk. A detailed description of the adjusted monetary base is
available from this bank.
Recent data are preliminary.

Adjusted Monetary Base
To the average of
two maintenance
periods ending:
12/22/93
1/19/94
2/16/94
3/16/94
4/13/94
5/25/94
6/22/94
7/20/94

Compounded annual rates of change, average of two maintenance periods ending:
7/21/93 10/13/93 12/22/93 1/19/94 2/16/94 3/16/94 4/13/94 5/25/94

B.1
9.1
10.7
10.4
9.8
9.3
9.3
9.3


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

7.2
10.3
9.9
9.2
8.6
8.6
8.7

18.2
14.9
12.4
10.6
10.4
10.2

14.9
11.6
9.7
9.6
9.5

6.8
6.5
7.0
7.4

5.7
6.6
7.1

Prepared by Federal Reserve Bank of St Louis

Money Stock (Ml) and Total Checkable Deposits
Billions of Dollars

1170

1994

1145

n«m u^ds vi wuiljr riyuico

Billions of Dollars

Seasonally Adjusted

1

------------ -----------

-

M1
Billions

Jun 13
20
27
Jul 4
11
18

1146.3
1150.2­
1149.3
1146.0
1150.4
1153.2

M1 (left

(right scale)'

TCD
1994
Jun 13
20
27
Jul 4
11
18

Billions
798.6
801.7 —
799.2
795.5
800.3
802.5

7 21 5 19 2 It 30 13 27 11 25 8 22 6 20 3 17 31 M 20 U 20 11 25 9 23 6 20 4 II 1 15 29
Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr
May
1994

Jun

Jul

Aug

Latest data plotted week ending: July 18, 1994
Current data appear in the Federal Reserve Board's H.6 release.
M1 is the sum of currency held by the nonbgnk public, demand deposits, other checkable deposits and travelers
checks.
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Compounded annual rates of change, average of four weeks ending:
To the average 7/19/93 10/18/93 12/20/93 1/17/94 2/21/94 3/21/94 4/18/94 5/16/94
of four weeks
ending:
12/20/93
1/17/94
2/21/94
3/21/94
4/18/94
5/16/94
6/20/94
7/18/94

9.8
9.1
8.6
8.1
7.6
6.4
6.3
6.2


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

8.0
7.4
6.9
6.3
4.8
5.0
4.8

5.7
5.4
4.8
3.0
3.5
3.6

5.4
4.6
2.5
3.2
3.3

3.8
1.0
2.4
2.7

-0.8
1.7
2.2

Prepared by Federal Reserve Bank of St. Loub

3

4

Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

114
1994

Billions

May 11
25
Jun 8
22
Jul 6
20

101.8
104.3
102.8
104.2
102.1
105.4

110

106

102

96

94

2

II 30 H 21 It 25
Jun
Jul
Aug

I 22
Sep
1993

I 20 3 17 1 15 21 12 21 9 23 9 23
Oct
Nov
Dec
Jan
Feb Mar

6 20 4 18
Apr
May
1994

1

15 29 13 27 II 24
Jun
Jul
Aug

Latest data plotted two weeks ending: July 20, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of Ml.

Adjusted Reserves
, Compounded annual rates of change, average of two maintenance periods ending:
To the average of 7/21/g3 10/13/93 12/22/93 1/19/94 2/16/94 3/16/94 4/13/94 5/25/94
two maintenance
periods ending:
12/22/93
1/19/94
2/16/94
3/16/94
4/13/94
5/25/94
6/22/94
7/20/94

3.9
8.0
10.5
8.6
6.1
4.7
4.7
4.6


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

4.8
9.7
6.9
3.6
2.1
2.4
2.6

31.2
17.9
9.3
5.5
5.4
5.2

10.5
2.1
0.0
0.9
1.4

-8.9
-6.9
-4.3
-2.9

-7.7
-4.2
-2.5

Prepared by Federal Reserve Bank of St. Lours

90

Money Multiplier V
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.0

Ratio

3.0

Compounded annual
rates of change,
average of the four
weeks ending
July 18, 1994 from
the four weeks ending
Jul 19, 1993 -2.7
Oct 11 1993 -3.3
Jan 17. 1994 -5.8
Feb 14. 1994 -4.1
Mar 14, 1994 -4.3
Apr 11, 1994 -5.6
May 23, 1994 -3.2

i 1

7 21
Jun

I' i 1

1 i 1

1 i 1 i 1 i 1 i

5 19 2 II 30 13 27
Jul

Aug

1994

Sep

Ratio

May 9
23
Jun 6
20
Jul 4
18

\

1 i

i ■ i '

'1 i «

1 i 1

i

■ i ■ i 1 i ■ i

1 i

11 25

8 22

6 20 3 17 31 14 28 14 21 11 25

9 23

Oct

Nov

Dec

May

Jan

Feb

Mar Apr

1993

2.602
2.589
2.591
2.585
2.584
2.575

i ■ i

8 20 4 18 1
Jun

15 29 _

Jul

Aug

1994

Latest data plotted two weeks ending: July 18, 1994

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

350

350

------- 1----------1----------1--------Compounded annual
rates of change,
average of the four
weeks ending
M0 ■ July 18, 1994 from
the four weeks ending:
Jul 19. 1993 10.7
Oct 18. 1993 10.7
Jan 17, 1994 12.0
Feb 21. 1994 10.6
330
Ma r 21. 1994 1 0. 1
Ap r 18, 1994 1 0. 1
Ma y 16. 1994 1 0.0

340

330

320

320

310

300

7 21 5 II 2 li JO IJ 27 II 25 I 22 ( 20 3 17 II H 21 M 21 II 25 ) 23
Jun

Jul

Aug

Sep
1993

Oct

Nov

Dec

Jan

Fab

Mar

Apr May
1994

1224

Billions

Jun 13
20
27
Jul 4
11
18

33 9.6
344 3.4
34 1.9
34 2.3
34 1.8
34 2.4

( 20 ____
4 II 1 15 20
Jun

Jul

Aug

Latest data plotted week ending: July 18, 1994
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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

Prepared by Federal Reserve Bank of St. Louis

5

310

300

6
Yields on Selected Securities

Percent

Percent

Averages of Doily Figures

Corporate

Loan Rais

!

"Municipal Bonds

4 II 2 IS 31 13 27 10 24
Jun

Jul

Aug

Sep
1993

22 5 1) 3 17 31 14 21 11 25 11 25 I 22 I 20
Oct

Nov

Dec

Jan

Feb

Mar

Apr
May
1994

Jun

Jul

Aug

Latest data plotted are averages of rates available for the week ending: July 29, 1994

1994
May

6
13
20
27
Jun 3
10
17
24
Jul 1
8
15
22
29 *

30—Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

4.05
4.37
4.35
4.33
4.37
4.32
4.34
4.36
4.47
4.53
4.55
4.44
4.46

4.35
4.68
4.53
4.49
4.52
4.43
4.46
4.52
4.71
4.78
4.78
4.65
4.70

4.31
4.63
4.46
4.41
4.44
4.38
4.39
4.46
4.64
4.72
4.69
4.59
4.61

7.97
8.12
7.89
7.98
7.96
7.85
7.94
8.02
8.11
8.18
8.17
8.06
8.08

8.59
8.74
8.53
8.62
8.61
8.51
8.63
8.73
8.80
8.87
8.86
8.75
8.77

6.18
6.32
6.14
6.13
6.09
5.96
6.04
6.16
6.28
6.27
6.22
6.22
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
Prepared by Federal Reserve Bank of St. Louis


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

Selected Interest Rates
Percent
8.0

Averages of Daily Figures

_ _ _ _ _ _ /_ _ _ _

V
4

1 •—Year
Treasu y Sscu ttiss

8.0

✓

/

/V

___ v

\

4.0

- - - - - - - - - - - - »- - - -

\

__ Z

5.0

«•*

v7

_

/

'V
_ _ V\

✓

A_ _ _ _ _ _ _ _ _ _

1

(.0

/V

7.0

i

7.0

3—1 onth

sdsrai
Fu ids Rat •

✓ /
/

Aa-

V--.

v

3.0

Di ►count tats

4 10 2 it 30 13 27 10 24 0 22 5 IS 3 17 31 14 20 11 25 11 25 0 22 I 20 3 17 I 15 2) 12 20
Jun

Jul

Aug

Sep
1993

Oct

Nov

Dec

Jan

Feb

Mar

Apr May
1994
Latest data plotted are averages of rates available for the week ending: July 29. 1994

1994
May

6
13
20
27
Jun 3
10
17
24
Jul
1
8
15
22
29 *

Federal
Funds *♦

3-Month
Treasury
Sill

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

Jun

10—Year
Treasury
Securities

Jui

Aug

Long-Term
Treasury
Securities

3.76
3.70
4.02
4.22
4.27
4.13
4.21
4.19
4.19
4.38
4.30
4.30
4.28

4.04
4.96
8.76
7.16
7.42
4.19
5.19
6.98
7.37
7.80
4.16
4.95
6.65
7.06
7.34
4.18
5.00
6.73
7.14
7.44
4,15
5.04
6.70
7.09
7.39
4.11
4.89
6.54
6.97
7.28
4.12
4.90
6.65
7.08
7.39
4.16
5.00
6.76
7.17
7.47
4.16
5.18
6.89
7.27
7.57
4.28
5.19
6.95
7.34
7.64
4.37
5.18
6.97
7.36
7.85
4.30
5.10
6.83
7.23
7.52
4.42
5.25
6.93
7.30
7.57
Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities
which are computed by this bank. Treasury bill yields are On a discount basis.
* Averages of rates available
*• Seven—day averages for week ending two days earlier than date shown


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

Prepared by Federal Reserve Bank of St. Louis

7

2.0

8
Money Stock (M2) and Non-Mi Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1994

M2
Billions

Jun 13
20
27
Jul 4
11
18

Billions of Dollars

M2 (left

3582.4
3580.6
3581.8.
3590.5
3591.4
3596.3

Non-M1 M2 (right scale)
Non-M1 M2
1994 Billions
Jun 13
20
27
Jul 4
11
18

21 3 17 31 14 28 14 28

7 21 5 19 2 1S 30 13 27 11 25 0 22
Jun

Jul

Aug

Sep
1993

Oct

Nov

Dec

Jan

Feb

Mar

2436.1
2430.4
2432.5
2444.5
2441.0
2443.1

25 9 23 8 21 4 18 1 IS 29
Apr
May
1994

Jun

Jul

Aug

Latest data plotted week ending: July 18, 1994
Current data appear in the Federal Reserve Board's H.6 release.
M2 js 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, savings (including money market deposit accounts), small time deposits
and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release.

Money Stock (M2)
Compounded annual rates of change, average of four weeks ending:
To the average 7/19/93 10/18/93 12/20/93 1/17/94 2/21/94 3/21/94 4/18/94 5/16/94
of four weeks
ending:
12/20/93
1/17/94
2/21/94
3/21/94
4/18/94
5/16/94
6/20/94
7/18/94

2.3
2.1
1.7
2.0
2.3
2.0
1.7
1.7


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

2.3
1.4
2.0
2.4
1.9
1.6
1.6

0.2
1.5
2.3
1.6
1.2
1.3

1.6
2.6
1.7
1.1
1.3

4.7
2.7
1.7
1.7

1.7
0.8
1.1

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings

Small Time

1994

Billions

1994

Jun 13
20
27
Jul 4
11
18

1207.3
1208.2
1206.4
1204.3­
1202.5
1203.0

Jun 13
20
27
Jul 4
11
18

Savings Deposits (left scale)

Billions
770.4
771.0
771.0
770.4 —
771.3
772.8

Small Time (right scale)

7 21

5 II 2 H 30 13 27 II 25 8 22

Jun

Jul

6 20 3 17 31 14 21 14 21 II 25 8 23 I 20 4 II 1 15 2!

Aug

Sep
Oct Nov
Dec
Jan
.
1993
Note: Savings deposits are at all depository institutions.

Feb

Mar

Apr
May
1994

Jun

Jul

Aug

Large Time Deposits and Money Market Funds1/
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

400

380

—I--------- 1---------Large Time
1994 Billions
Jun 13 334.4
20 334.5
27 334.0
11
18

/

4oney tarket
✓ \.

\
__ > s

-*
-

340

360.2
357.1
358.5

1
8

36 3.6
36 4.7

if io I3 27 t'l 25

Aug

Sep
1993

Oct

1
1

400

3(0

^—*
V

f
*

340

J

1 22 8 20 3 17 31 14 2 114 21' 11' 25 8 23 1 21 4 11
Nov
Dec Jan
Feb Mar Apr May Jun
Jul
19 94

15 2
Aug

Latest data plotted week ending: July 18, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money morket funds are general purpose and broker/dealer.
Fn?are<l by Federal Reserve Bank of St. Louis


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

300

*

*

Lai ■go Tim. »

21 5 11
Jun
Jul

Jun 13
20
27

3 33.0
3 38.9

3(0

320

Billions of Dollars
1
1
Money Market
1994 Billions

9

320

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars
1.4 ---------1--------1994

1.2
1.0

0.4
0.2
0.0

4

§ii ions

“ Jun 22
29
Jul 6
13

0. 326
0. 385
0. 750
0. 360

27

0. 443

1.2
1.0
i

0.8
0.8

Billions of Dollars

0.8

il

r L
L
J LJw
J
2 If 10 14 2t tl 25

22 6 20

A <
v'v

VA

3 17 1 15 2) 12 20

J\

S 23 9 23 t 20 4 10 1 15 29 13 27 II 24

0.6
0.4
0.2
0.0

Jun

Jul
Aug
Sep
Oct Nov
Dec
Jan
Feb Mar Apr
May
Jun
Jul
Aug
1993
„
....
-----.
1994
Borrowings include seasonal, adjustment and extended credit; extended credit was $1 million in the week ending
July 20. 1994.

Bank Loans and Credit
3275
3225
3175

.

All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

2400

---------1--------Bank Cr<sdit
1994 Eii ions
Jun 8 31 95.5
15 32 09.7
22 32 00.5
29 32 15.2
13 32 42’4

2350

B ink Cr««Jit (left scale

2300

)2/
✓

3125

f--------

3075
3025

Av‘

Loc ns anc Lease (righl scale i

2075
2925

2200

_J
■sf*

LoarlSiScLet3ses
199 4 Bill
Jun 8 2234.7
15 2241.4
22 2234.5
Jul

6 2253.9
13 2263.7
— l ..

! If 11 14 il 11 25 I !! f ?D 1 17 I 15 2) 12 2f ! 23 I 23 f it 4 II I IS 21 12 27 II 24
Jun
Jul
Aug Sep Oct
Nov Dec
Jan
Feb Mar Apr
May
Jun
Jul
Aua
1993
1994
Latest Wednesday data plotted : July 13, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Includes loans and leases and securities
_
.. _
„
Prepared by Federal Reserve Bank of St. Louis


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

2250

2150
2100

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1994

Billions of Dollars

Not Seasonally Adjusted
Billions

Jun 15 157.506
154.534
152.451
Jul 6 152.694
151.801
153.615

2 It 30 14 28
Jul

25 8 22 t 20 3 17 1 15 28 12 2$ ! 23 8 23 I 20 4 11 1 15 2) 13 27 10 24
Se;

Aug

Nov

Dec

Jan

Feb

Mar

Apr
May
1994

Jun

Jul

Aug

Latest data plotted week ending: July 20, 1994

Commercial and Industrial Loans

Billions of Dollars

eon

320

/
**

Ail Bank* ( eft see

le)1/

y s'

y

'

'-N.

r—

580

✓

y-

*

— N-

X

1

510

1994 Billions
Jun 8 292.0
15 294.4
22 296.0
29 295.4 —
Jul 6 297.7
13 298.4
-J...........I,.,

570

rT'i

'

Jun

^T”' I1
1,1 1 1 M
Jul

Ml1

TH t T'l'lr~' i i > 1 i • i

Aug

r-fr i

i

■ i ■ r» t ■

Sep
Oet
Nov Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aua
1993
1994
Latest Wednesday data plotted : July 13, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Weekly reporting, domestically chartered banks
„
Prepared by Federal Reserve Bank of St. Louis


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

11

300
290

Lar( • Banl«(righ scale

5(0

310

y-

V

(ID

Billions of Dollars

---------1--------- 1---------All Banks
1994 Billions
- Jun 8 605.3
15 609.7
22 609.5
29 609.7
Jul 6 611.9
13 616.9

_____

(20

280
270
2(0

Doner’s Trade-Weighted Exchange Index
1973-100

1973-100

Averages of Daily Figures

1994 1973-100

2 II 31 14 21 11 2S I 22
Aug

Sep

21 3 17 1 IS 21 12 21 i 23 * 23 I 21 4 II 1 IS 2) 13 27 II 24

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Latest data plotted week ending: July 27, 1994
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


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

2
O
H

k
c
J

o

0s
<

D «