Full text of U.S. Financial Data : May 26, 1988

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RESEARCH

Federal

LIBRARY

f§esp*ve Bfmk

•

■

.

oU.b^ Financial Data
JUNO 2 1988

May 26, 1988

THE WEEK'S HIGHLIGHTS:
v*

The Ml money stock averaged $772.9 billion for the four weeks
ending May 16, and was up at a 4.7 percent annual rate from the
four weeks ending June 29, 1987.

s

The nation's real gross national product grew at a revised 3.9 percent
rate in the first quarter, up from the 2.3 percent rate reported
previously. Real net exports were revised upward by $13.1 billion.

v*

Factory orders for durable goods increased 0.8 percent from March
to April, reflecting, in part, a strong increase in electrical machinery
orders. For the first four months of 1988, durable goods orders were
up 11.6 percent from the corresponding period a year earlier. Durable
goods data are not adjusted for inflation.

ts

Consumer prices rose at a 5.3 percent rate from March to April.
Clothing prices increased 2 percent. During the past year, consumer
prices rose 3.9 percent; excluding food and energy, the increase was
4.3 percent.

niK
HIHKM

A RKSKKW
XlLWKof
er ST.IIH IS

Digitized Views expressed do not necessarily reflect official positions of the Federal Reserve System.
for FRASER
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Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
282 ------------- I---------- 1------

BILLIONS OF DOLLARS
------ ------------------------ 282

BILLIONS
271.5

MAR.
— APR.

0 22

0 20
MAY

3 17
JUN

I

12 20

15

0 23

7 21
OCT

4 18
NOV

2 10 SO 13 27 10 24
JAN
FEB

0 23

6 20
APR

4 18
MAY

I

IS

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING: MAY 18, 1988
THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BANKSTCURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AM) IN THE VAULTS_OF_ALL
DEPOSITORY INSTITUTIONS) AND AN ADJUSTMENT FOR RESERVE REOUIREICNT RATIO CHANGES.
. THE MAJOR
SOURCE OF THE ADJUSTED VpT^ON OF^THE ADJUSTED MONETARY_BASE is'AVAILABLE FROM THIS BY THIS
DATA_ARE^COMPUTED BANK.
ED
SOURCE ^!LED^eIcr MONETARY BASE IS FEDERAL RESERVE CREDIT.
BANK.
“ '
..................................
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING:
5/20/87

8/12/87 10/21/87 11/18/87 12/16/87

1/13/88

2/24/88

3/23/88

7.0
8.7
7.7

7.1
6.2

8.6

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:

ft

10/21/87
11/18/87
12/16/87
1/13/88
2/24/88
3/23/88
4/20/88
5/18/88

4.8
6.8
6.3
6.2
6.9
6.4
6.9
6.7


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Federal Reserve Bank of St. Louis

9.6
8. 1
7.6
8.3
7.4
8.0
7.6

10.5
8.8
9.5
8.0
8.7
8.1

4.2
7.0
5.7
7.0
6.6

8.6
6.5
8.0
7.3

—|
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

of dollars

766.3
766.3
777.7
776.3
769.6
768. 1

~ MAY

APR

BILLIONS

MAY

DEC

JAN

MAR

APR

LATEST DATA PLOTTED WEEK ENDING: MAY 16, 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE
DEPOSITS AND TRAVELERS CHECKS.

MONEY STOCK ( Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
5/18/87

AVERAGE OF FOUR WEEKS ENDING:

8/17/87 10/19/87 11/16/87 12/14/87

1/18/88

2/15/88

3/14/88

3.2
6.4
7.6

3.3
5.8

1 1.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/19/87
Ilf16/87
12/14/87
1/18/88
2/15/88
3/14/88
4/18/88
5/16/88

1.3
2.4
0.7
1.4
2.6
1.7
2.7
3.4


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Federal Reserve Bank of St. Louis

6.4
2.4
3.0
4.6
3. 1
4.3
5.0

-0.9
1.4
4.2
2.1
3.9
4.9

-1.7
2.8
0.6
3.0
4.3

8.8
3.9
6.0
7.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.1 ----------1---------- 1------------- 1---------1988
MAR.

RATIO

7
21
4
18

2.783
2.790
2.797
2.775

16

APR.

RATIO
3.1

2.791

Ml ML LTIPLI :r

2.9

2.8

^------

‘111

111

XI 1.1. i i .i

6 20

4 IS

t

APR

MAY

JUN

1111

15 29 IS 27 10 24

JUL

XLL in
7 21

5 19

XLLL XLL
2

AUG
1987

1 1 1

1 1 M XL!

16 30 14 28 11 25

NOV

DEC

JAN

S 22

FEB

XXL 1-l-U- XLL
7 21
4 16 2 IS 30 13 27
MAR
APR
MAY
JUN
1988

LATEST DATA PLOTTED TWO WEEKS ENDINGt MAY 16, 1988
BILLIONS OF DOLLARS
206 ---------- .---------- ,--------

ILL IONS OF DOLLARS
—I------------- ----------- 206

_ COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
- THE FOUR *EEKS ENDING
—MAY 16, 1988 FROM
_
THE F06R WEEKS ENDINGt
_

MAR. M, 1988
FEB. 15, 1988
JAN.
18, 1988
— DEC. 14, 1987
AUG.

17|
8;

11.2
7.8
8.8
CURRENCY

1987
1987

ISSfi.
APR.

II

BILLION?
202.1

202.2
203.3

202.9
203.2
1111111 111111111
0 20

4

IS

APR

MAY

I

15 29 13 27

JUN

JUL

10 24

AUG
1987

7 21

5 19

SEP

OCT

2 IS 30 14

NOV

DEC

11

25

JAN

8 22

FEB

7 21

4 16

2 IS 30 13 27

MAR
APR
1988

LATEST DATA PLOTTED WEEK ENDINGt MAY 16, 1988
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1M

BILLIONS OF DOLLARS
580

BILLIONS

APR.

556.9
556.9
567.2
565.7
559.3
557.5

8 20

4

APR

MAY

18

I

13 29 13 27

10 24

7 21

5 19

SEP

OCT

2 18 30 14 28 11

DEC

25

8 22

JAN

7 21

4 18

2 18 30 13 27

MAR
APR
1088

1987
LATEST DATA PLOTTED WEEK EWING: MAY 16, 1088

TOTAL CHECKABLE DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL
DEPOSITORY INSTITUTIONS.

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
5/18/87

8/17/87 10/10/87 11/16/87 12/14/87

1/18/88

2/15/88

3/14/88

2. 1
5.5
7.2

1.8
5.1

12.0

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
10/10/87
11/16/87
12/14/87
1/18/88
2/15/88
3/14/88
4/18/88
5/16/88

-0.7
0.4
-1.9
-1.3
0.2
-0.7
0.5
1.4


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Federal Reserve Bank of St. Louis

5. 1
-0.2
0.4
2.5
0.9
2.3
3.3

-5.1
-2.2
1.4
-0.6
1.6
3.0

-5.9
-0.1
-2.2
0.7
2.5

7.6
2.3
4.7
6.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT

12.0 i—

3 17

I

IS 29 12 26 10 24

7 21
AUG

4 16

SEP

2

16 30 13 27

NOV

II

25

8 22

DEC

5

19

FEB

4

16

1

15 29

MAR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. MAY 27,

1988
APR.

1
8
15
22
29
MAY
6
13
20
27 X
JUNE
3
10
17
24

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

6.67
6.82
6.87
7.01
6.99
7.09
7.22
7.25
7.29

6.63
6.73
6.76
6.85
6.85
6.89
7.06
7.08
7.09

6.55
6.70
6.74
6.85
6.85
6.96
7.1 1
7.15
7.18

9.53
9.61
9.61
9.73
9.73
9.78
9.85
9.94
10.02

CORPORATE
Baa BONDS
10.73
10.83
10.86
10.98
10.92
10.96
1 1 .01
11.07
11.12

13 27

MAY

10 24

JUN

1988.

MUNICIPAL
BONDS XX
7.90
7.80
7.81
7.87
7.77
7.84
7.85
7.97
N.A.

urniBTHE boar° ^ GovER"ms' hi5 release-

» BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BOfOS, 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 RATES

PERCENT

PERCENT

TREASURY SECURITIES

DISCOUNT RATE

APR

MAY

JUN

JUL

AUG

* >8
SEP

2 10 30 IS 27 11 25 8 22
OCT
NOV
DEC
JAN

5 10
FEB

1987

4 18
MAfT

1 15
APR

13
10
MAY 27 JUN 24

1986

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 27, 1088.

FEDERAL
FUNDS *0K
APR.

I
8
15

22
29

6
13

20
27
3

6.62
6.82
6.81
6.93
6.85
6.82
7.02
7.04
7.14

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILLM8K

I-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

5.74
5.99
5.89
5.83
5.91
6. 16
6.26

6.00

6.36
6.55
6.49
6.58
6.60
6.75
6.85
6.91
7.03

8.03
8. 13

8.85

6.22

6.30

6.21

6. 19
6.14
6.28
6.41
6.51
6.50
6.71

8.12

8.25
8.27
8.39
8.53
8.64
8.74

8.86
8.88

9.07
9.08
9. 15
9.23
9.38
9.44

10
17
24

arrsMm.
&^&YA4^3SiE?D,i§M ENDINS ™°BAYS ««•'» THAN


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Federal Reserve Bank of St. Louis

d*te shown

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3025

APR.

II

BILLIONS OF DOLLARS
3025

2991.3
2992.1
2996.4
2997.6
2999.9
3002.4

3000

2950

2950

2925

2900

2900

e 20

4 18

APR

MAY

I

19 29 13 27 10 24

JUN

AUG
1987

7 21

S 19

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: MAY 18,

2 16 30 14 28 11 25

NOV

DEC

8 22

JAN

7 21

4 18

2 10 30 13 27

MAR
APR
1988

1988

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.8 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BAfKS, OVERNIGHT EURODOLLARS ISSUED
Ml
U.S.
TO LL TIME DEPOSITS, FOREIGN BRANCHES OF AND BROKER/DEALER MARKETMARKET MUTUAL FUNftS. FOR MORE
u.r RESIDENTS B* AND GENERAL PURPOSE U.S. BAWS, MONEY MONEY DEPOSIT ACCOUNTS. SAVINGS AND
--------------SMALL _ _
DETAIL, SEE THEH.S’RELI

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,
5/18/87

AVERAGE OF FOUR WEEKS ENDING:

8/17/87 10/19/87 11/16/87 12/14/87

1/18/88

2/15/88

3/14/88

9.2
8.2

9.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/19/87
11/16/87
12/14/87
1/18/88
2/15/88
3/14/88
4/18/88
5/16/88

3.2
3.5
3.0
3.2
4.3
4.4
5.2
5.2


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

4.5
3.4
3.7
5.2
5.3
6.2
6.2

2.4
3.3
5.6
5.7
6.9
6.7

2.5
5.9
5.9
7.2
7.0

8.6
7.8
8.9
8.4

9.8
10.6
9.5

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

ILL IONS OF DOLLARS
1910

19|0 --------,--------,-----

-1------------- -------- -1

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
the four Weeks ending
MAY 16. 1986 FROM
THE FOUR WEEKS ENDING:
MAR.
FEB.
JAN.
DEC.
NOV.
AUG.
MAY

14,
15,
18,
14,
16,
17,
18,

1988
1988
1988
1987
1987
1987
1987

10. I
12.2
12.5
11.3
11.5
11.4
10.7

TOTAL TIME DEPOSITS

APR.

11

1877.4
1880.9

I I I 1 I M 1 I I I I 1 I I I
LATEST DATA PLOTTED WEEK ENDING: MAY 16. 1988
IILLIONS OF DOLLARS
500 ---------- ,---------- ,-----1988
APR.

11

0 20

4 ,8

APR

MAY

BILLIONS OF DOLLARS
—i------------- ----------- 500

BILLIONS
492.3
492.5
492.6

I

LARGE TIME DEPOSITS

15 29 13 27 10 24

JUN

JUL

AUG

7 21

5 19

SEP

OCT

2 10 30 14 28 1, 25

DEC

JAN

8 22

7 21

4 18

MAR

APR

2

16 30 13 27

1987
LATEST DATA PLOTTED WEEK ENDING: MAY 18, 1
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


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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
4.0 ------------- 1---------- 1----1988
APR.
MAY

ILL IONS OF DOLLARS

MILLIONS
20
27
4
11
18
25

3672
2034
2414
2080
2270
2911

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt MAY 25. 1988
BILLIONS OF DOLLARS
2.5

I
_

1988
APR.
MAY

1 .1 .1 -1 —

BILLIONS OF DOLLARS
2.5 ------------ 1---------- 1---------- 1------------MILLIONS
20
27
4
11
18
25

515
300
575
349
406
388

ADJUS TMENT + SEA SONAL
BORROVSINGS

-

1

1

1.5

1

1

-

TTTT

1

,
\

t

at

0.0

1 1 1 1 -LLL m. III!
1 IS 29 IS 27 10 24 8 22
APR
MAY
JUN
JUL

J
/ AT \A
v\
1 1 1
5 19
AUG
1987

V'-

JV

TTTT

A

L____
V/—

nA

a

1111 -LLL -LLL LLLL III
1 1 1
1111
111
2 IS SO 14 28 II 25 9 23 8 20
MAR
APR
SEP
OCT
NOV
DEC
JAN

111

1 1 1 1

MAY

LATEST DATA PLOTTED WEEK ENDINGt MAY 25, 1988


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BULLIONS OF DOLLARS
I uu
1
1
1—!
- 1988
MILLION! 5.

100
1 1 1

86,79*
89,437
89 872
94,IOC
93,932
94.18C

7

TV

1

m V

rAf
\

1 1 1

A r-\

1
1

1111

o

90

85

TV
A.

95

1 1 1

r' \ /

=

r—

1 1

/
A

1

1

I APR. 13
20
27
_ MAY 4
11
_
18

billions of dollars

80
75

“llll
APR

111

111

XI1 1

111

1111

111

MAY

JUN

JUL

AUG
1987

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING*. MAY 18r

.1.11 XIXL XU. 111
25 0 25 S
3 17
NOV
DEC
JAN
FEB

1111 XIX ■LI 1 X-L1 L.'
2 16 30 13 27 II 25 6 22
MAR
APR
MAY
JUN

0

1988

* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS 17

( COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
5LA5UNALLY ADJUSTED

BILLIONS OF DOLLARS
305 ------------- ,---------- ,------

BILLIONS OF DOLLARS
------------------------------ 305

COMPOUNDED ANNUAL RATES
“ OF CHANGE. AVERAGE OF
- THE FOUR WEEKS ENDING
-MAY 11. 1988 FROM
_ THE FOURWEEKS ENDING: _
- MAR. 9. 1988
- FEB. 10, 1988
_ JAN. 13, 1988
DEC. 9, 1987
” NOV. 11, 1987
- AUG. 12, 1987
- MAY 13, 1987

15.8
10.6
10.5
7.1
5.7
6.0
3.3

“

MILLIONS
APR.

6

295,865
295,937
298,572

13 27 10 24
MAY
JUN

8 22

5 10

2 16 SO 14 28 II 25
OCT
NOV

LATEST DATA PLOTTED WEEK END ING: MAY 11.

0 23

6 20
JAN

3 17
FEB

■I i.l I I I I I I I I I I
2 16 30 13 27 II 25
APR
MAY

8 22

1988

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COACRCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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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

69.0
80.2
89.3
89.7
90.0

1

15 29 13 27 10 24

MAY

6 22

JUN

5 19

2 16 30 14 26 11 25

OCT

NOV

9 23

6 20

3 17

JAN

FEB

2 16 SO 13 27 II 25

APR
1988

6 22

MAY

LATEST DATA PLOTTED WEEK ENDING. MAY 25, 1988
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.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS