Full text of U.S. Financial Data : November 3, 1988
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r*------- ------------------------- ;
s ihrary
u s. Bn ancial Data
\/ n ^ 1066-....
v u r ratio
-—mtk rember 3, 1988
NOV 0 7 1988
THE WEEK’S HIGHLIGHTS:
ts
Over the past two months, short-term interest rates have risen while
long-term rates have declined. The spread between three-month
Treasury bills and five-year Treasury securities declined from 164
basis points for the week ending September 2 to 104 basis points
for the week ending November 4.
v*
Construction spending in September rose 0.6 percent but was 0.5
percent below the September 1987 level.
v*
New single-family home sales in September fell 7.8 percent following
a 2.1 percent increase in August. New home sales for the first nine
months of the year were 1.5 percent above sales for the same period
in 1987.
September factory orders for durable goods fell 3.2 percent. Durable
goods orders for the first nine months of this year were 10.5 percent
below such orders for the same period of last year.
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
1988
AUG.
SEP.
OCT.
NOV.
BILLIONS OF DOLLARS
290
BILLIONS
24
7
21
5
19
2
281.8
281.1
283.4
282.1
283.2
284.2
278
9 23
7 21
OCT
4 19
NOV
2 19 30 13 27 10 24
9 23
9 20
APR
4 19
MAY
1987
1
15 29 IS 27 10 24
7 21
5 19
2 16 30
1988
LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING: NOVEMBER 2, 1988
THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BAKKS, CURRENCY IN CIRCULATION 1 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 FEDERAL RESERVE CREDIT. DATA ARE COMPUTED BY THIS
BA**. 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 PERIODS ENDING:
11/4/87
1/27/88
4/6/88
5/4/88
7.2
8.0
6.6
7.4
7.4
7.0
6.9
6.7
6. 1
4.3
5.9
6.2
5.8
5.8
5.7
5. 1
7.8
7.8
6.8
6.7
6.4
5.5
6.3
5.5
5.6
5.4
6/1/88
6/29/88
7/27/88
5.5
5.7
5.4
4.9
4.7
9/7/88
TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
4/ 8/88
5/ 4/88
6/ 1/88
6/29/88
7/27/88
9/ 7/88
10/ 5/88
11/ 2/88
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10.6
7.7
7.4
6.8
5.2
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
BILLIONS OF DOLLARS
790 ---------- ,---------- 1--------
1999
SEP.
BILL I AMS
[9
784.0
782. I
784.8
783.6
780.8
OCT
SEP
ILL IONS OF DOLLARS
—1------------- ----------- 790
5 IS
OCT
2 IS 30 14 28 II 25
DEC
JAN
8 22
7 21
MAR
I I I I
2 18 SO IS 27 11 25
JUN
JUL
4 18
APR
8 22
10
3 17 31 14 28
LATEST DATA PLOTTED WEEK ENDING: OCTOBER 24, 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.
DEPollTS^AN^TRAV&!erI^CHECKS? BY THE ’***"* PUBUC' DEMAND DEP°SITS’ 0THER CHECK*BLE
MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
10/26/87
AVERAGE OF FOUR WEEKS ENDING:
1/25/88
3/21/88
4/25/88
5/23/88
6/27/88
7/25/88
8/22/88
6.2
5.6
5.9
6.5
5.8
5.2
4.5
9.2
8.4
8.7
7.4
6.3
5.3
5.5
6.8
5.6
4.6
3.7
8.2
6.2
4.8
3.7
5.7
4.0
2.8
1.6
0.7
0.2
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/21/88
4/25/88
5/23/88
6/27/88
7/25/88
8/22/88
9/26/88
10/24/88
1 . 1
3.5
3.5
4.0
4.6
4.3
4.0
3.6
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
3
4
MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
RATIO
2.776
2.770
Ml MULTIPLIER
7 21
5 10
SEP
OCT
2 16 50 14 28 11
DEC
25
8 22
JAN
7 21
4 18
MAR
APR
2
16 30 13 27
JUN
LATEST DATA PLOTTED TWO WEEKS ENDING* OCTOBER 17,
II
25
8 22
5
10
3 17 31
14 28
JUL
1988
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
212
_ COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
- the four Weeks ending
—OCTOBER 24, 1988 FROM
_
THE FOUR WEEKS ENDING:
_
AUG.
JUL.
JUN.
MAY
APR.
JAN.
OCT.
22,
25,
27,
23,
25,
25,
26,
1988
1988
1988
1988
1988
1988
1987
7.2
5.9
7.0
CURRENCY
1M
SEP.
19
BILLION?
208.7
209.0
208.7
209.4
210.0
7 21
5 19
SEP
OCT
2 16 30 14 28 It
DEC
JAN
25
6 22
mil ni 1 uni 111
7 21
MAR
LATEST DATA PLOTTED WEEK ENDING: OCTOBER 24,
APR
JUN
JUL
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
580 ----------1--------- ,--------
BILLIONS OF DOLLARS
----- ------------ ---------- 580
568.6
567. I
565.8
568.8
566.9
563.5
5 10
OCT
2
16 30 14 28 11
NOV
1987
DEC
25
JAN
B 22
FEB
7 21
4 18
MAR
APR
2
16 30 13 27
MAY
JUN
1988
II
25
JUL
8 22
AUG
5 10
SEP
3 17 31
14 28
OCT
LATEST DATA PLOTTED WEEK ENDING* OCTOBER 24, 1968
DEPOSITORYKtNSTITUT?ONSS 'S ™E SUM ** DEMAND DEP0SITS AND 0THER CHECKABLE DEPOSITS AT ALL
TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*
10/26/87
1/25/88
3/21/88
4/25/88
5/23/88
6/27/88
-1.8
1 . 1
1.3
2. 1
2.9
2.7
2.3
1.9
5.3
4.6
5.2
5.9
5.3
4.3
3.5
8.9
8.3
8.7
7.3
5.6
4.4
5. 1
6.5
5.2
3.7
2.6
8.4
6. 1
4.0
2.6
5.4
2.8
1 .3
7/25/88
8/22/88
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/21/88
4/25/88
5/23/88
6/27/88
7/25/88
8/22/88
9/26/88
10/24/88
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-0.2
-1.2
-2.2
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
5
6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES
PERCENT
PERCENT
12.0 r—
—I 12.0
10.0
CORPORATE
Aaa bonds
PRIME BANK
LOAN RATE
MUNICIPAL
BONDS
4 18
2
SEP
16 30 13 27
OCT
NOV
1987
11
25
DEC
8 22
JAN
5
19
FEB
4 18
1
MAR
APR
15 29 15 27
MAY
10 24
JUN
19B8
8 22
JUL
5 19
AUG
2
IB 50
SEP
14 28 11
OCT
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt NOVEMBER 4,
1988
SEP.
OCT.
NOV.
2
9
16
23
30
7
14
21
28
4 *
1 1
16
25
90 DAY
CD'S
30-DAY
COMMERCIAL
PAPER
90-DAY
BANKERS'
ACCEPTANCES
8.41
8.26
8. 19
8. 16
8.24
8.31
8.33
8.38
8.41
8.40
8.20
8.09
8.05
8.03
8. 13
8. 10
8.09
8. 13
8. 16
8.21
8.24
8.09
8.04
7.99
8.09
8.12
8. 13
8. 15
8.18
8. 16
CORPORATE
Aaa BONDS
10.14
9.95
9.84
9.73
9.67
9.58
9.54
9.49
9.44
9.38
CORPORATE
Baa BONDS
1 1.21
11.13
11.02
10.78
10.59
10.45
10.41
10.41
10.39
10.28
25
NOV
19
MUNICIPAL
BONDS XX
7.76
7.67
7.59
7.62
7.64
7.53
7.52
7.45
7.36
N. A.
NOTEt
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* 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
-V
SELECTED
INTEREST RATES
AVERAGES OF DAILY RATES
PERCENT
PERCENT
11.0 i—
—|
TREASURY SECURITIES
DISCOUNT RATE
TREASl
4
18
2 16 50
13 27 11
NOV
1987
25
DEC
8 22
5 19
4 18
FEB
MAR
1
15 29 13 27
MAY
10 24
8 22
5 10
2
16 30 14 28 II
JUN
1988
OCT
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: NOVEMBER 4,
1988
SEP.
2
9
16
23
30
OCT.
7
14
21
28
NOV.
4 X
1 1
18
25
25
NOV
1988.
FEDERAL
FUNDS km
3-MONTH
TREASURY
BILL
6-MONTH
TREASURY
BILL »9I6K
l-YEAR
TREASURY
BILL
5-YEAR
TREASURY
SECURITIES
LONG-TERM
TREASURY
SECURITIES
8.15
8.15
8.13
8. 17
8.24
8.38
8.27
8.27
8.29
8.36
7.28
7.30
7. 18
7. 19
7.30
7.25
7.31
7.40
7.42
7.36
7.50
7.40
7.41
7.34
7.48
7.46
7.46
7.55
7.54
7.48
7.65
7.52
7.45
7.51
7.60
7.56
7.51
7.56
7.55
7.50
8.92
8.68
8.64
8.67
8.73
8.57
8.53
8.52
8.47
8.40
9.35
9. 11
9. 10
9. 14
9.01
8.98
8.96
8.95
8.81
NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG—TFRU treasury
• AVERAGES^^eHvJuL^0'™'* BY ™'l!S BANK™TREASURY^TlL Y1ELDSARE
'I SCOuBfiilsT S.
wtl
««SAUCTioNYAVMAGffoiSgol!!NT’)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
™° °AYS EARUER THAN DATE »»»
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
7
11.0
8
MONEY STOCK ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
3075
3050
3075
__ SEP
3038.3
3034.1
3030.9
3036.6
3043.2
3036.6
3025
3000
2975
2950
2925
2925
7 21
5 19
SEP
OCT
2 16 30 *14 28 11
DEC
25
6 22
JAN
7 21
4
MAR
APR
18
2 16 SO 15 27
JUN
1988
1987
11
25
8 22
3 19
3 17 31
H 28
JUL
LATEST DATA PLOTTED WEEK ENDING: OCTOBER 24, 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COIACRCIAL BAf*S, 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,
AVERAGE OF FOUR WEEKS END 1NG:
10/26/87
1/25/88
3/21/88
4/25/88
5/23/88
6/27/88
7/25/88
8/22/88
5.7
6.7
6.4
6.4
6. 1
5.8
5.4
5.0
9.9
8.5
8.0
7.3
6.7
6.0
5.4
8. 1
7.4
6.5
5.8
5. 1
4.5
5.2
4.8
4.3
3.8
3.2
5.0
4.3
3.7
3.0
3.2
2.8
2.1
2.4
1.7
1.2
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/21/88
4/25/88
5/23/88
6/27/88
7/25/88
8/22/88
9/26/88
10/24/88
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
ALL DEPOSITORY INST I TUT IONS
TOTAL TIME DEPOSITS 1/
LARGE TIME DEPOSITS z/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
zooo
1970
2000
COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
OCTOBER 24, 1988 FROM
THE FOUR WEEKS END INGt
AUG. 22,
JUL. 25,
JUN. 27,
MAY
23,
APR. 25,
JAN. 25,
OCT. 26,
1988
1988
1988
1988
1988
1988
1987
12.5
11.5
10.8
10.2
10.0
11.2
11.4
TOTAL TIME DEPOSITS
19SB
SEP.
19
BILLIONS
1956.9
958.9
962.6
969.3
973.0
976.8
II I I 1 I 1 I I I I I I I I
LATEST DATA PLOTTED WEEK END INGt
OCTOBER 24,
1988
BILLIONS OF DOLLARS
1955.
SEP.
ILL IONS OF DOLLARS
540
BILLIONS
19
530
524.6
526.4
OCT.
520
531.1
532.5
510
LARGE TIME DEPOSITS
500
490
480
470
7 21
5 19
2 16 30 14 28 II 25
DEC
JAN
8 22
7 21
4 18
MAR
APR
LATEST DATA PLOTTED WEEK END INGt OCTOBER 24,
1/ TOTAL TIME
IS THE SUM OF SAVINGS DEPOSITS,
2/ TIME DEPOSITS
ISSUED
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2 18 30 13 27 11 25
JUN
JUL
8 22
5 19
3 17 31 14
1988
SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
IN DENOMINATIONS OF 8100,000 OR MORE
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---------- 1-----
SEP.
26
5
12
2257
2621
2124
26
2359
IONS OF DOLLARS
-------------------n A-5
TOTAL BORROWINGS
LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 2, 1988
BILLIONS OF DOLLARS
BILLIONS OF DOLLARS
2.5
1
7—T
1
1
_
1988 MILLIONS
- SEP. 28 556
_ OCT.
5 914
12 446
19 600
26 411
2
433
_ NOV .
1
I
CO
I'l
____
TTTT
AD JUS TMENT + SEA
BORROKKINGS
2.0
1.5
f]
-
\(
Ar
\A
V"
J
111
1111
2 16 90 M 26 II 25 S 23
OCT
NOV
DEC
SEP
1987
i i i i
.XI 1
l
A
sA
in
6 20
JAN
1 1 1
3 17
FEB
V5
V
\J
{
V
111 _LXL INI
1 1 II
2 16 30 13 27 II 25 8 22
MAR
APR
MAY
JUN
1988
III
6 20
JUL
4
1.0
J1
■k
I ll 1
3 17 31 14 28 12 26 0 23
AUG
SEP
OCT
NOV
LLLL XXX J LI
LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 2. 1988
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
0.5
0.0
COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
BILLIONS OF DOLLARS
105
BILLIONS OF DOLLARS
105
-LLLL
21
28
5
12
19
26
NOT SEASONALLY ADJUSTED
1
92,32$
91,072
95,092
95,531
96,082
97,25(
1 1 1
I SEP.
-OCT.
_
MILLION
>
-t—
,A /»■
A
>
•
/
S'
M il III!
f_
A
________5
r\z
s\
A
v
\
5im
111
111
11M
OCT
NOV
1987
-
<
i
>
/—\
_
1
- 1M
111
111
1111
111
111
1 1 1 I
JAN
FEB
MAR
AFR
MAY
JUN
1988
_LLL
S 20
JUL
-11.1.1, hi in mi!
S 17 31 M 20 12 20 0 23
AUG
SEP
OCT
NOV
LATEST DATA PLOTTED WEEK ENDING* OCTOBER 26, 1988
* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AN) IS NOT COMPARABLE TO PREVIOUS DATA.
BUSINESS LOANS 17
( COMMERCIAL AND
1NDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
StASUNALLY ADJUSTED
BILLIONS OF DOLLARS
305 ------------- ,---------- ,------
BILLIONS OF DOLLARS
------------------------------- 3°5
r COMPOUNDED ANNUAL RATES
- OF CHANGE. AVERAGE OF
TIC FOUR *EEKS ENDING
- wiudlr
OCTOBER 19
1986
FROM
i aoo
rnuM
_ THE FOUR is*,
WlEKS
ENDING*
- AUG.
JUL.
JUN.
- MAY
17,
20,
22,
18,
1988
1988
1988
1988
JAN. 20.
- OCT. 21,
1988
1987
-1.3
MILLIONS
300,054
301,157
OCT.
5
301,105
2 16 30 14 26 11 23
OCT
NOV
0 23
6 20
JAN
3 17
FEB
2 16 30 13 27 11 25
APR
MAY
LATEST DATA PLOTTED WEEK ENDING* OCTOBER 19.
8 22
6 20
li-li 1 I Ml I I I I I
3 17 31
14 28 12 26
SEP
OCT
0 23
1988
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AfC COUCRCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN #1.4 BILLION
http://fraser.stlouisfed.org
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
973-100
1973-100
1973-1QQ
SEP.
28
97.7
2 16 SO 14 28 II 25
OCT
0 23
NOV
6 20
3 17
2 16 30 13 27 II 25
JAN
FEB
APR
LATEST DATA PLOTTED WEEK ENDINQi NOVEMBER 2,
NOTEt
CURRENT DATA APPEAR
8 22
6 20
17 31
MAY
0 23
OCT
1988
IN THE BOARD OF GOVERNOR’S H.10 RELEASE.
DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR,
10
14 28 12 20
SEP
COMPUTED USING
INDUSTRIAL COUNTRY CURRENCIES.
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Federal Reserve Bank of St. Louis
PREPARED BY FEDERAL RESERVE BANK OF ST.
LOUIS
@FedFRASER