Full text of U.S. Financial Data : May 30, 1991

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Federa
°'a

sssrvs Bank
Louie

inancial Data
rJUH 0 3 1931

'J

May 30, 1991

THE WEEK'S HIGHLIGHTS:
%/ The Conference Board’s consumer confidence index (1985 - 100)
for May was 74.2, marking its second consecutive monthly decline.
The index registered 79.4 in April.
✓ Sales of new single-family homes rose 1.2 percent in April to a
seasonally adjusted annual rate of500,000 units. Through the first
four months of 1991, sales were 17 percent below those for the
same period last year.
✓ Personal income rose 0.1 percent in April, its third consecutive
monthly increase.
✓ The U.S. merchandise trade deficit in the first quarter of 1991 was
$18.4 billion, down sharply from $27.7 billion (revised) in the
fourth quarter of 1990. This was the smallest trade deficit since the
second quarter of1983.
t/ Corporate profits from current production fell 0.3 percent in the
first quarter of 1991, following declines of 1.9 and 3.9 percent in
the third and fourth quarters of 1990.

FEDERAL
KKKKKWC
HANK of
ST.UM IS

Digitized forViews
FRASER
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
Billions of Dollars

1991

(

Averages or Daily figures
Seasonally Adjusted

Billions of Dollars

Billions

Apr

3

May

1

U ! 16 30 13 27 1] 25
Apr May
Jun
Jul

! 22
Aug

S 19 3 17 11 11 21 I! 21
Sep
Oct
Nov
Deo

9 23 6 10 6 20
Jan Feb Mar

3 17 1
Apr

15 29 12 26

1990
1991
Latest data plotted reserve maintenance period ending: May 29, 1991
I!!5rSSfc8J?4i22?.nSl2!y^,ase is thu wn? Of reserve accounts of financial institutions at Federal Reserve banks
In circulation (currency held by the public and in the vaults of all depository institutions) and an
’
'■otjochanqes. The major source of the adjusted monetary base is Federal
avaifabfeCfroni'tMs bankf computed by thls bank. A detailed description of the adjusted monetary base is
Recent data are preliminary.

Adjusted Monetary Base
To the averaae of Compounded annual rates of change, average of two maintenance periods ending:
two maintenance
5/3°/9° 8/22/90 10/31/90 11/28/90 12/26/90 1/23/91
3/6/91
4/3/91
periods ending:
10/31/90
11/28/90
12/26/90
1/23/91
3/6/91
4/3/91
5/1/91
5/29/91

9.8
9.5
9.2
11.5
11.5
11.3
9.8
9.6


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Federal Reserve Bank of St. Louis

9.6
9.0
12.6
12.4
12.0
10.0
9.7

7.6
14.7
13.6
12.8
9.8
9.5

18.1
15.3
13.8
10.2
9.7

18.7
15.8
10.9
10.2

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Averages ot Daily Ngures
Seasonally Adjusted

Billions of Dollars

1991

Billions of Dollars

Billions

Apr 1 5
May 6

840.0
852.8

M1 (left scale)

TCD

TCD (right scale)

2

16 30 14 28
Apr

May

25
Jun

9 23
Jul

6

20
Aug

3

17

1

Sep

15 29 12 26 10 24

7

Oct

21

4

18

4

Feb

18
Mar

1

1991

Billions

Apr 15
22
29
May 6
13
20

579.9
576.7
574.8
585.4
587.4
588.0

15 29 13 27 10 24
Apr

May

Jun

Latest data plotted week ending: May 20, 1991
Current data appear in the Federal Reserve Board's H.6 release.
M1 is the sum of currency held by the nonbank 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)
T

..
Compounded annual rates of change, average of four weeks ending:
10 tne average 5/21/90
8/2o/90 10/22/90 11/19/90 12/17/90 1/21/91 2/18/91 3/18/91
of four weeks
ending:
10/22/90
11/19/90
12/17/90
1/21/91
2/18/91
3/18/91
4/22/91
5/20/91

4.3
3.9
3.6
3.3
4.6
4.7
5.1
5.1


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Federal Reserve Bank of St. Louis

4.1
3.6
3.1
5.0
5.2
5.6
5.6

1.8
1.6
5.0
5.1
5.7
5.8

1.6
6.0
6.0
6.5
6.4

7.9
7.3
7.5
7.3

11.1
10.0
9.1

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

May

Billions of Dollars

6

M2 (left scale)

Non-M1 M2
1991
Billions

Non-M1 M2 (right scale)

Apr 15
22
29
May 6
13
20

2

IS 30 1* 28 II 25
Apr

May

23

Jun

Jul

6

20

Aug
1990

3

17

1

Sep

15 29 12 26 10 24
Oct

Nov

Dec

7

21

Jan

18
Feb

4

18

1

2544.8
2543.3
2535.9
2541.3
2543.9
2544.9

15 29 13 27 10 24

Mar
Apr
1991

May

Jun

Latest data plotted week ending: May 20, 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)
Compounded annual rates of change, average of four weeks ending:
To the average
5/21/90 8/20/90 10/22/90 11/19/90 12/17/90 1/21/91 2/18/91 3/18/91
of four weeks
ending:
10/22/90
11/19/90
12/17/90
1/21/91
2/18/91
3/18/91
4/22/91
5/20/91

3.1
2.5
2.4
2.2
2.8
3.2
3.4
3.3


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Federal Reserve Bank of St. Louis

2.5
2.3
2.0
2.9
3.5
3.7
3.5

0.5
0.7
2.3
3.3
3.7
3.4

1.3
3.3
4.2
4.5
4.1

4.0
5.0
5.1
4.5

7.7
6.7
5.6

6.2
4.9

3.8

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
Averages or Daily Figures
Seasonally Adjusted

Ratio

Ratio

Compounded annual
rates of change,
average of the four
weeks ending
May 13, 1991
from
the four weeks ending:
May
Aug
Nov
Dec
Jan
Feb
Mar

2

14.
20,
26,
24,
21,
18,
18,

1990
1990
1990
1990
1991
1991
1991

Ratio

Apr

-4.3
-4.1
-3.7
-3.5
1.2
3.3
5.6

IS 30 14 28 11 25
Apr
May
Jun

23
Jul

2.521
2.495

1

May 13

6 20
Aug

3

17 1 15 2! 12 26 10 24 7 21
Sep
Oct
Nov
Dec
Jan

2.527
2.522
2.537

18 1 15 28 13 27 10 24
Mar
Apr
May
Jun

Latest data plotted two weeks ending: May 13, 1991

Currency Component of M12/
Averages of Daily Figures

Billions of Dollars

270

200

250

Billions of Dollars

I
I---------Compounded annu al
rates of change,
average of the fou
weeks ending
May 20, 1991
f
the four weeks end ng:
May 21, 1990 11 .0
Aug 20, 1990 11 .0
Nov 19, 1990 1C .0
Dec 17, 1990 11 .2
Jan 21. 1 991
.2
Feb 18. 1 991
3 .5
Mar 18, 1 991
.1

270

260

250

240

240

230

220

1991

Billio Q3

Apr 1
2
2
May
1
2

256 2
257.5
256.5
256.3
256.8
T' Ii 1 »

220

1 1 1 1

Apr

May

Jun

Jul

Aug
1990

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Latest data plotted week ending: May 20. 1991
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

5

230

6

Yields on Selected Securities
Percent

Percent

Averoges of Doily Figures

Prime Bank
Loan Rate

Corporate

Bonds

Commercial
Paper *

13 27 10 24
Jul

S

Aug

Nov

Dec

22

Mar

5

19

3

17 31

Apr

Latest data plotted are averages of rates available for the week ending: May 31, 1991

1991

90-Day
CDs

30—Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

6.70
6.35
6.35
6.31
6.18
6.00
6.00
6.08
5.91
5.91
5.93
5.91
5.89

6.75
6.38
6.35
6.36
6.25
5.99
6.03
6.07
5.93
5.92
5.93
5.91
5.90

6.42
6.14
6.19
6.14
6.02
5.88
5.89
5.92
5.75
5.75
5.76
5.76
5.75

8.92
8.91
8.97
8.92
B.88
8.87
8.81
8.89
8.83
8.83
8.89
8.86
8.86

10.11
10.05
10.13
10.06
9.98
9.96
9.93
9.93
9.83
9.83
9.91
9.89
9.90

7.06
7.06
7.13
7.14
7.06
7.02
6.98
7.01
6.95
6.93
6.94
6.98
N.A.

Mar

8
15
22
29
Apr
5
12
19
26
May
3
10
17
24
31 *

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
Percent

Percent

Averages of Daily Figures

Federal
Fund* Sate

15 25 13 27 10 20
Jul

Aug
1990

7 21
Sep

5

19
Oct

2

IS 30 H 28
Nov

22

Dec

Feb

8

22

5

19

Mar
Apr
1991

17 31 10 28
May

Jun

Latest data plotted are averages of rates available for the week ending: May 31, 1991

1991
Mar

B
15
22
29
Apr
5
12
19
26
May
3
10
17
24
31 *

Federal
Funds **
6.47
6.17
6.10
6.10
6.00
5.90
5.69
5.92
5.92
5.79
5.78
5.79
5.72

3—Month
Treasury
Bill

6-Month
Treasury
Bill ***

1-Year
Treasury
Bill

5-Year
Treasury
Securities

6.05
5.83
5.87
5.82
5.75
5.59
5.63
5.66
5.51
5.48
5.44
5.44
5.43

6.06
5.91
5.82
5.84
5.79
5.68
5.67
5.79
5.68
5.61
5.63
5.66
5.65

6.09
5.94
6.01
5.94
5.87
5.84
5.87
5.86
5.73
5.76
5.76
5.77
5.74

7.75
7.70
7.85
7.79
7.69
7.69
7.70
7.74
7.64
7.69
7.76
7.73
7.66

Long-Term
Treasury
Securities

8.35
8.31
8.43
8.35
8.27
8.27
8.20
8.30
8.23
8.29
8.37
8.34
8.33
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
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Loui3


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Federal Reserve Bank of St. Louis

7

8

Savings and Small Time Deposits
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1991

Billions

Apr 15
22
29
— May 6
13
20

426.6
428.0
429.2
430.8
432.2
433.5

Small Tima (right scale)

Small Time
1991

Billions

Apr 15 1150.4
22 1147.9
29 1145.6
1143.1
20

25
16 30 11 28
Apr
May
Jun

2

9 23

I 20 3 17
Aug
Sep

15 29 12 26 10 21 7 21
Oct
Nov
Dec
Jan

1

1138.0

18 4 IB 1 15 29 13 27 10 21
Feb Mar
Apr
May
Jun

1990

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

Billions of Dollars

Billions of Dollars

Large Time

Total Time (left scale)

1991

Billions

Apr 15

507.6
506.6

May

503.4
502.2
502.5

6

Total Time
1991
— Apr 15
22
29
May 6
13
20

1

Billions

Large Time (right scale)

2084.6
2082.5
2079.3
2078.1
2075.3
2074.0

1( JO U 20 11 25
Apr
May
Jun

9

23

t

20 3 17 1 15 29 12 26 10 21 7 21
Aug
Sep
Oct
Nov
Dec
Jan

4

10 4 18
Feb Mar

15 2! 1J 27 10 24
Apr
May
Jun

1990
Latest data plotted week ending: May 20, 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
Billions of Dollars

General Purpose and Broker/Dealer
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
May 20, 1991
from
the four weeks ending:
May 21,
Aug 20,
Nov 1
15.5
Dec 17,
Jan 21,
Feb 18,
Mar 18

2

16 30 H 28 11 25 9 23 6 20 3 17
Apr May
Jun
Jul
Aug
Sep
1990

1

15 29 12 26 10 24 7 21
Oct
Nov
Dec
Jan

1991

Billions

Apr 15
22
29
May 6
13
20

366.9
366.7
366.2
366.9
368.1
368.2

4 18 4 18' i ’ 15 29 13 ’ 27 10 24
Feb Mar
Apr
May
Jun
1991

Money Market Deposit Accounts
Billions of Dollars

550

All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

of Dollars

I---------- 1
Compounded annual
rates of change,
average of the four
weeks ending
May 20, 1991
from
the four weeks ending:
May 21
1990
Aug 20 1990
Nov 19
1990 10.8
Dec 17, 1990 13.0
Jan 21, 1991 18.5
Feb 18, 1991 20.4
Mar 18 1991 21.4

1

16 30 14 21 11 IS 9 23
Apr
May
Jun Jul

6 20 3 17 1 15 29 12 26 10 24 7 21
Aug
Sep
Oct
Nov
Dec
Jan
1990

4 18 4 18
Feb Mar

1991

Billions

Apr 15
22
29
May 6
13
20

527.2
526.7
528.3
532.3
535.9
537.1

1 15 29 13 27 10 24
Apr
May
Jun
1991

Latest data plotted week ending: May 20, 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 Keserve Hanks
Averages of Daily Figures

Billions of Dollars

1991

Billions

Apr 24
_ May 1
8
15
22
29

r

Billions of Dollars

0.214
0.273
0.307
0.321
0.295
0.303

II 2 11 11 11 1) 11 !S
Apr
May
Jun
Jul

S 22
Aug
1

S

1! 1 17 11 11 21 12 26
Sep
Oct
Nov
Dec

9 21
Jan

6

28 6 21 3 17 1 IS 21 1! 26
Feb Mar
Apr
Mav
Jun

..r

non

*

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

Billions of Dollars

1991

Billions

Apr 24
-May 1
8
15
22
29

Apr

Billions of Dollars

May

0.124
0.158
0.184
0.189
0.200
0.281

Jun

Jul

Aug
1990

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

IS 29 12 26
May
Jun

Latest data plotted week ending: May 29, 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

(

Not Seasonally Adjusted

1991

Billions

Apr 17
24
May 1
8
15
22

154.020
151.772
153.166
154.426
152.950
151.223

II
Apr

I

B 22 5 19
Aug Sep
1990

It II II 27 II 25
May
Jun
Jul

3 17 31 11 21
Oct

Nov

|2 l
Dec

Billions of Dollars

Feb

Mar

Apr

May

Jun

Latest data plotted week ending: May 22. 1991

Commercial and Industrial Loans1 /
Weekly Reporting Lorge Commercial Banks2/

Billions of Dollars

365

355

345

335

71--------- 1---------- —
Compounded annijai
rates of change,
average of the foil r
weeks ending
May 15, 1991 fron
the four weeks en ling:
May 16. 1990 - 4.7
Aug 15, 1990 - 5.9
Nov 14,
990 -7.7
Dec 12,
990 -8.3
Jan 16.
991 -7.5
Feb 13, 991 -7.4

...

. j

—

1991
17
24
May 1
8

365—
316. 531
314. 336
313. 539
312. 370
304

355

345

335

325

325
k--------

315

'Vv

''A

315

N
305

365

Billieins

1 i >

Apr

r-' i ■ i1

May

1 l ' i ~T~t ■ i

Jun

Jul

T'' 1 »*

A4S.
iyyo

T 1

1 »

Sep

-r-r 1 r

0ct

Nov

305
Dec

Feb

Mar
Apr
ig91

May

Jun

Latest data plotted week ending: May 15. 1991
1/ Commercial and industrial loans include bankers acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 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
1973=100

1973=100

Averages of Dally Figures

Apr 24
May 1

4 18 2
Apr

16 30 13 27 11 25
May

Jun

Jul

22 5 1$ 3 17 31 14 28 12 26 9 23 6 20 6 20 3
Aug
1990

Sep

Oct

Nov

Dec

Jan

Feb

17 1

Mar
Apr
1991

15 29 12 26
May

Jun

Latest data plotted week ending: May 29, 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.

*09

LIBRARY


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis