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J__________
___

U.S.^Financial Data
November 17, 1988

—NQV 2 £ 1080- - - - - - - - - - - - - - - - - - - - - - - - - - - - -

THE WEEK'S HIGHLIGHTS:
s

Industrial production rose at a 4.4 percent annual rate from
September to October and was up 5.1 percent from a year earlier.

^

The total industry capacity utilization rate was 84 percent in October,
compared with 81.9 percent in October 1987.

is

Retail sales grew at an 11.7 percent rate in October, and were up
6.8 percent from a year earlier.

is

The seasonally adjusted merchandise trade deficit (imports including
freight, insurance, and other charges) fell to $10.46 billion in
September from $12.27 billion in August. The cumulative trade
deficit of $102.9 billion for January through September was down
from $127.3 billion in the same period last year.

DUE TO THE HOLIDAY ON THURSDAY, NEXT
WEEK’S RELEASE WILL BE PUBLISHED LATE.

tiik
IIDKRVI
A RI M Mt

IIANK of

si; mi is

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

_
-

ISM

BILLIONS OF DOLLARS

BULLIONS.

SEP’

7

£§M

“ OCT.
__ NOV.

21
5
19
2

283.4
282.1
283.2
283.5
284.4

9 23

SEP

7 21

4

OCT

NOV

!®

2 19 90 13 27 10 24

DEC

JAN

FEB

9 23

MAR

9 20

4 19

APR

MAY

1087

I

IS 29 IS 27

JUN

JUL

10 24

7 21

8 19

AUG

SEP

OCT

2 IS 30

NOV

1988

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING. NOVEMBER 10, 1988
TI0N5 AT FEDERAL
VAULTS OF ALL

tiEF1
RECENT DATA ARE PRELIMINARY.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING.
11 /I8/87
TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING!
V

4/20/88
5/18/88
8/15/88
7/13/88
8/10/88
9/21/88
10/19/88
11/18/88

0.9
0.5
6.4
6.7
0.9
6.6
6.2
6.2


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

2/10/88

4/20/88

5/18/88

6/15/88

7/13/88

6/10/86

9/21/88

4.7
5.0
5.6
6.1
5.8
5.4
5.5

5.1
6.3
6.9
6.3
5.6
5.7

7.3
7.8
6.7
5.8
5.9

8.7
7.0
5.8
5.9

6.3
5.0
5.3

3.6
4.3

4.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
790

782. I
784.9
783.7
780.9
784.6
781.6

7 21

5 10

SEP

OCT

2

10 SO 14 20

DEC

It

25

8 22

7 21

4

MAR

JAN

APR

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 7,

18

2 10 SO

IS 27 11

25

8 22

5

10

3

17 SI

14 28

1988

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.8 RELEASE.
DEPOSITS AND TRAVELERS CHECKS.

BY

the

NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*.
11/9/87

2/8/88

4/4/88

5/9/88

8/6/88

7/4/88

8/8/88

9/5/88

2.2
3.8
2.9
3.0
4.3
3.9
3.7
3.2

5.6
3.5
4.8
5.4
4.7
4.3
3.6

4.5
6.4
5.8
5.5
4.9
4.0

3.7
5.3
4.0
3.6
2.7

9.2
6.2
5. 1
3.8

4.2
3.5
2.2

1.1
0.2

0.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/ 4/88
5/ 9/88
6/ 6/88
7/ 4/88
8/ 8/88
9/ 5/88
10/10/88
11/ 7/88


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
1986
AUG.
SEP.

RATIO

22
5
19
3
17
31

OCT.

2.775
2.7C5
2.755
2.776
2.770
2.761
Ml MULTIPLIER

7 21

5 19

SEP

OCT

2 IS 90 14 28 II

DEC

2B

8 22

7 21

4

MAR

JAN

APR

18

2 16 90 19 27 11

JUN

LATEST DATA PLOTTED TWO WEEKS ENDING. OCTOBER 31,

i

1988
ILL IONS OF DOLLARS
216

r

COMPOUNDED ANNUAL RATES

7.
6..
6.1
7.2
7.
7.

1987

M

1988
1988
1988
1988
1988
1988

8..

l

5,
8
4,
6,
9
8,
9,

1

OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
NO VEMBEF 7, 1988 FR 3M
TH E FOUF wfeEKS END 1 JG:

— SE P.
— AU 6.
_ JU L.
_ JU N.
MA Y
" FE B.
— NOV.

14 28

1

I

i

9 17 91

CURRE NCY

1

212

i

8 19

1

_
-

6 22

M il

BILLIONS OF DOLLARS
216

28

JUL

_

200

-

„ /

r

196

i i

0C1 .

NOV .

lu.

jjjj 1111

7 21

8 19 2

16

SEP

OCT NOV
1987

in

111

90 14 28 II

DEC

JAN

.1.1 IX _LLL -U-L 1 1 1 1

28 8 22

FEB

1 1 1

7 21

4 18

2 18 90 19

MAR

APR

MAY

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 7,

JUN
1988

1 1 1 _LLLL
8 22
AUG

10
17
24

31

3 209.0
208.7
209.4
210.0
210.5
7 209.5

—
_

ii i 1 i i i i 1 i i i'
8 19

SEP

9 17 91

OCT

14 28

NOV

1988

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

565.8
568.8
566.9
563.6
566.6
564.7

4 18

SEP

DEC

OCT

JAN

MAR

2 10 30 13 27

APR

JUN

11

25

8 22

S 18

3 17 31

14 28

JUL

1987
LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 7, 1988
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
11/9/87

AVERAGE OF FOUR WEEKS ENDING:

2/8/88

4/4/88

5/9/88

6/6/88

7/4/88

4.9
2.2
3.9
4.8
3.8
3.3
2.4

3.6
6.0
6.6
5.0
4.0
2.9

2.3
4.6
3.0
2.3
1.2

9.8
6.0
4.2
2.6

3.6
2.3
0.7

8/8/88

9/5/88

-1.0
-2.2

-2.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/ 4/88
5/ 9/88
6/ 8/88
7/ 4/88
8/ 8/88
9/ 5/88
10/10/88
11/ 7/88

-0.5
1 .8
0.7
1.9
2.7
2.3
2.0
1.5


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

10.0

CORP1

8.0

7.0

4 18

2

16 SO 13 27

NOV

11

DEC

25

8 22

5 19

4 18

FEB

MAR

IS 27

MAY

10 24

8 22

5 19

2 16 SO 14 28 11

JUN

OCT

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt NOVEMBER 18,

1988
SEP.

2
9
16
23
30
OCT.
7
14
21
28
NOV.
4
1 1
18 X
25

90 DAY
CD’S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
AM BONDS

8.41
8.26
8.19
8. 16
8.24
8.31
8.33
8.38
8.41
8.43
8.55
8.74

8.20
8.09
8.05
8.03
8. 13
8. 10
8.09
8. 13
8. 16
8.22
8.31
8.40

8.24
8.09
8.04
7.99
8.09
8. 12
8. 13
8. 15
8. 18
8. 18
8.34
8.54

10. 14
9.95
9.84
9.73
9.67
9.58
9.54
9.49
9.44
9.39
9.38
9.42

CORPORATE
BM BONDS
1 1.21
11.13
1 1 .02
10.78
10.59
10.45
10.41
10.41
10.39
10.33
10.40
10.46

25

NOV
1988.

MUNICIPAL
BONDS MX
7.76
7.67
7.59
7.62
7.64
7.53
7.52
7.45
7.36
7.33
7.44
N. A.

AVAILABLE ^ ^ #F G0VERN°RS' H,S RELEASE#* BOM) 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 RATES

PERCENT

—, 11.0

[CUR I TIES

TREASURY

DISCOUNT RATE

^ 18

SEP

2 18 30 15 2T II 25

OCT
NOV
1987

DEC

8 22

5 IB

4

FEB

JAN

MAR

18

1

IS 29 13 27 10 24

APR

MAY

JUN
1988

8 22

JUL

5 IB

AUG

2

18 30

SEP

14

OCT

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt NOVEMBER 18,

1988
SEP.

2
9
16
23
30
OCT.
7
14
21
28
NOV.
4
1 1
18 X
25

11 25
NOV
1988.

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XXX

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8. 15
8. IS
8. 13
8. 17
8.24
8.38
8.27
8.27
8.29
8.36
8.31
8.26

7.28
7.30
7. 18
7. 19
7.30
7.25
7.31
7.40
7.42
7.38
7.57
7.89

7.50
7.40
7.41
7.34
7.48
7.46
7.46
7.55
7.54
7.48
7.71
7.87

7.65
7.52
7.45
7.51
7.60
7.56
7.51
7.56
7.55
7.53
7.76
7.92

8.92
8.68
8.64
8.67
8.73
8.57
8.53
8.52
8.47
8.44
8.69
8.77

9.35
9. 1 1
9.10
9. 14
9. 17
9.01
8.98
8.96
8.95
8.84
9.04
9. 10

N0TE‘
« averag!s1oftra?esHaw!ilaLe0MPUTED


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Federal Reserve Bank of St. Louis

bv

OF GOVERNORS- H. 15 RELEASE EXCLUDING LONG-TERM TREASURY
™ s bank'
TREASURY bill FIELDS are on a discount basis.

EN0ING fW° DAVS 6“UER THAN DATE

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3075 ---------- 1---------- 1------

3028.8
3034.6
3041.1
3034.3
3039.5
3046.2

_ OCT

3025

BILLIONS OF DOLLARS
—|------------- ----------- 3075

— NOV

3000

2975

2975

2950

2950

2900

2900

2875

2875

7 21

3 10

SEP

OCT

2

10 30 14 26 1

NOV
1987

DEC

JAN

23

9 22

FEB

7 21

4

MAR

APR

10

2 16 30 IS 27

MAY

JUN
1988

II

25

JUL

8 22

AUG

5

10

SEP

3 17 31

14 28

OCT

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 7, 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.8 RELEASE
M2 IS THE SUM OF Ml. 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 FUN6S. FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE
11/9/87

2/8/88

6.5
6.7
6.6
6.3
5.9
5.6
5.0
4.9

8.2
7.6
7.0
6.3
5.8
5.0
4.8

4/4/88

5/9/88

AVERAGE OF FOUR WEEKS ENDING:
6/6/88

7/4/88

8/8/88

9/5/88

3.8
3.5
2.5
2.6

3. 1
2.0
2.2

1.3
.8

1.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/ 4/88
5/ fl/88
8/ 6/88
7/ 4/88
8/ 8/88
9/ 5/88
10/10/88
11/ 7/88


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

6.7
6.0
5.2
4.8
3.9
3,8

5.2
4.4
4. 1
3. 1
3. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS 1/
LARGE TIME DEPOSITS v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

=—1--------- 1------------1---------

1111

2000

- COMPOUNDED ANNUAL R/kTES
1970 H_OF CHANGE. AVERAGE )F
- THE FOUR *EEKS ENDIhJG
- NOVEMBER 7, 1988 FR( >M
Z THE FOUR WEEKS END II14G:

1790

1760

m i
TOTAL TIME

z

>EPOSI TS

/'
r*

i

1 1 1

i988

1 1 1 1

1 1 1

1 1 1

1 1 II

I 1 1

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 7.

1 1 1

1 1 II

1 1 1

B1LL 10ua

10
17
24
31
NOV .
7
1 1 1

1968.1
1971.8
1975.2
1975.9
1982.2

JL38&
—OCT.

1880

1850

Llu 1

1 I 1 -LLLL

i i

~
Z
—
Z

.1 i 1 i i i 1

1790

1760

0

1088

BILLIONS OF DOLLARS

530

1910

1820

m i

1820

1940

11.
ii.; »
10.
io.:
9.<
10.
10.?

III!

1850

1988
1988
1988
1988
1988
1988
1987

I N I IN I

1880

5,
8,
4,
6,
9,
8,
9.

TTTT TTTT

1910

- SEP.
Z AUG.
- JUL.
“JUN.
- MAY
- FEB.
~ NOV.

1970

TTTT

1940

2000

BILLIONS OF DOLLARS
540

BILLIONS
530

526.5
530.1
532.5
531 .0

520

510
LARGE TIME DEPOSITS
500

490

480

470

460

7 21

S 19

SEP

OCT

2 16 30 14 28 II

DEC

25

8 22

7 21

4 18

JAN

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 7,

2

18 30 13 27

JUN

II

25

8 22

5 19

3 17 31

14 28

JUL

1988

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
4.5 r----------- ,---------- 1-----1088

ILL IONS OF DOLLARS
“1---------- -----------=1 4.5

MILLIONS
TOTAL BORROWINGS

10

2283

2
0
16

2346
2066
3500

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 16, 1088
BILLIONS OF DOLLARS
2.5

446
600
411

251

1

9
16

ADJUSTMENT + SEA SONAL
BORROIVINGS

1

540

1

1

-------

M il

1

>
i

2.0

MILLIONS
12
19
26

1

OCT.

1

1088

_

1

_

ILL IONS OF DOLLARS
2.5

1
1

1

n

1

(l

-

1

1111

\A
v\

NA

-LLL

111

2 16 30 M 28 II

SEP

OCT
NOV
1087

JV
1111

25

0 23

DEC

A

v

-LLL -LLL

mi
0 23

\J

1

W y

Aa
>A

-LLL -LLL i i i i -LLL -LLL ■U.1 1 -LLL
6 20

3 17

JAN

FEB

2 16 30 13 27 II

MAR

APR

MAY

25

8 22

JUN
1988

6 20

JUL

1111

3 17 31

AUG

14 28 12 26

SEP

OCT

1

A/

1

/

1

=

NOV

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 16, 1088


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0.0

COMMERCIAL PAPER OF NONFINANC1AL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

_ OCT.

BILLIONS OF DOLLARS
105

5

_ NOV.

A

V

2

i« » 14 a li a
OCT
NOV

9 23

0 20
JAN

3 17
FEB

2 10 SO IS 27 II 29

APR

0 22

0 20

90

3 17 31

MAY

14 28 12 20

SEP

9 23

OCT

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 9, 1988
* DASHED LINE REPRESENTS DATA USING a NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS y
( COMMERC1AL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
~ COMPOl
_ OF Cl
THE FOUR
- m
- AUG. 31,
... AUG. 3.
JUN. 29,
1,
_ feUAY
FEB. 3,
NOV. 4,

BILLIONS OF DOLLARS
305

ANNUAL RATES
AVERAGE OF
[EKS ENDING
1 FROM
■NDING:
1088
1088
1988
1988
1988
1987

-1.5
-1.7

-

0.8

2.3
3.0
4.8
4.0
295

290

MILLIONS

OCT.

5

NOV.

285

2

300,481
301,034
299,934

I I I I
2 10 30 14 20 11 29

OCT

9 29

NOV

9 20

3 17

2 10 30 13 27 I

APR

8 22

0 20

j-i.i j 20 12 26
linn
14

3 17 31

9 23

MAY

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 2, 1988
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 91.4 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
1973-100
94.7
93.8
93.4

2 18 30 14 28 II 25

OCT

9 23

NOV

8 20

3 17

JAN

FEB

2 18 30 IS 27 II

APR

MAY

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 16. 1988
NOTE*

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.IO 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