Full text of U.S. Financial Data : November 5, 1992
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November 5, 1992 ^teservs3=ETT1 Bank TO 0 9 1992 Gjpi Lo«B|» FKDKKM KISKKM ItVVKol M UM IN THE WEEK'S HIGHLIGHTS: \/ The yield on long-term Treasury securities averaged 7.42 percent for the week ending November 6, up from the 7.05 percent September average. t/ Business productivity grew at a seasonally adjusted annual rate of 3 percent during the third quarter, marking a 2.8 percent increase from a year earlier. t/ Sales of new one-family houses in September were at a seasonally adjusted rate of617,000 units, slightly below the August rate of 623,000 units. For the first nine months of the year, 471,000 new houses were sold, compared with 392,000 units sold during the same period last year. The composite index of leading indicators decreased 0.3 percent in September, the third monthly decline in the last four months. Sensitive materials prices and the average workweek in manufac turing contributed most to the September decline. Because of the Veterans Day holiday next Wednesday, this release will be published on Friday, November 13. Views expressed do not necessarily reflect official positions of the Federal Reserve System. 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 as follows: One year (50 issues) Two years (100 issues) $18 $30 To subscribe, please send your check or money order made payable to the Federal Reserve Bank of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Adjusted Monetary Base Averages ot Daily Figures Seasonally Adjusted Billions of Dollars 1992 Billions Aug 19 372.2 30 Oct 14 28 377.3 380.2 381.3 Billions of Dollars 1992 Latest data plotted reserve maintenance period ending: October 28, 1992 The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reservei tbanks, currency 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 Federal Reserve credit.^JData are computed by this bank. 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: To the average of 10/30/91 1/22/92 4/1/92 4/29/92 5/27/92 6/24/92 7/22/92 9/2/92 two maintenance periods ending: 4/1/92 4/29/92 5/27/92 6/24/92 7/22/92 9/2/92 9/30/92 10/28/92 9.3 9.5 9.3 8.3 7.8 9.2 10.0 10.3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.4 11.4 9.5 8.6 10.3 11.4 11.6 9.2 6.6 5.8 9.1 10.7 11.1 4.6 4.3 8.7 10.7 11.1 2.5 9.0 11.4 11.8 12.1 14.4 14.2 Prepared by Federal Reserve Bank of St. Louis Money Stock (M1) and Total Checkable Deposits Averages ot Daily Hgures Seasonally Adjusted Billions of Dollars Billions of Dollars M1 1992 Sep 21 28 Oct 5 12 19 26 Billions 991.0' 991.2 999.7 1006.8 1005.2 . 1009.1 TCD (right scale) M1 (left scale) 1992 TCD Billions — Sep 21 28 Oct 5 12 19 26 2 16 30 14 28 11 25 ! 23 6 20 3 17 2 16 30 13 27 Sep Oct Nov Dec Jan Feb Mar Apr 696.2 696.0 703.7 709.5 708.0 711.7 25 8 22 6 20 3 17 31 14 28 12 26 9 23 May Jun Jul Aug Sep Oct Nov 1992 Latest data plotted week ending: October 26, 1992 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_ iL. of four weeks Compounded annual rates of change, average of four weeks ending: 10/28/91 1/27/92 3/23/92 4/27/92 5/25/92 6/29/92 7/27/92 8/24/92 ending: 3/23/92 4/27/92 S/25/92 6/29/92 7/27/92 8/24/92 9/28/92 10/26/92 17.4 14.5 14.7 12.2 12.2 12.6 13.3 14.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15.5 15.5 11.5 11.5 12.2 13.2 14.4 8.5 4.9 6.4 8.2 10.2 12.0 5.9 7.7 9.7 11.8 13.8 4.4 8.0 11.0 13.5 14.2 16.1 18.3 Prepared by Federal Reserve Bank of St Louis 610 4 Adjusted Reserves Billions of Dollars Soosorally Adjusted BiHions of Dollars 16 1992 Aug 19 Sep 2 16 30 Oct 14 28 Billions 14 89.7 88.3 90.9 90.8 . 92.1 92.6 92 90 86 84 82 7! Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Latest data plotted two weeks ending: October 28. 1992 Adjusted reserves is the difference between adjusted monetary base and currency component of M1. Adjusted Reserves Compounded annual rates of change, average of two maintenance periods ending: 10/30/91 1/22/92 4/1/92 4/29/92 5/27/92 6/24/92 7/22/92 9/2/92 two maintenance periods ending: 4/1/92 4/29/92 5/27/92 6/24/92 7/22/92 9/2/92 9/30/92 10/28/92 18.2 18.9 17.8 13.8 11.4 12.4 13.9 14.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 33.0 27.7 19.3 14.8 15.6 17.3 17.9 16.9 6.2 2.7 7.0 10.4 12.1 -1.5 -3.4 3.7 8.3 10.5 -9.8 1.7 7.7 10.4 8.0 14.2 16.3 24.1 24.0 27.6 Prepared by Federal Reserve Bank of St. Louis V Money Multiplier1/7 Averages of Daily Figures Seasonally Adjusted Compounded annual rates of change, average of the four weeks ending October 26, 1992 from the four weeks ending: Oct 28, 1991 3.4 Jan 20, 1992 2.6 Apr 27. 1992 1.8 May 25, 1992 1.4 Jun 22. 1992 1.3 Jul 20, 1992 2.1 Aug 31, 1992 4.3 Ratio Aug 17 2.626 Sep 14 Oct 12 2.640 2.642 2 16 30 14 28 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 12 26 Sep Oct Nov Dec Jan Feb Mar Apr May 1991 Jun Jul Aug Sep Oct 9 23 Nov 1992 Latest data plotted two weeks ending: October 26, 1992 Currency Component of Ml2/ Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars Compounded annual rates of change, average of the four weeks ending October 26, 1992 from the four weeks ending: Oct 28. 1991 9.0 Jan 27. 1992 9.7 Apr 27, 1992 11.3 May 25, 1992 12.2 Jun 29. 1992 14.3 Jul 27, 1992 14.8 Aug 24. 1992 13.6 Sep 21 Oct 2 16 30 14 28 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 Sep Oct Nov 1991 Dec Jan Feb Mar Apr May 5 286.4 — 286.7 287.4 288.7 288. i 288.8 20 3 17 31 14 28 12 26 9 23 Jun 1992 Jul Aug Sep Oct Nov Latest data plotted week ending: October 26, 1992 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 Yields on Selected Securities Percent Percent Averages of Daily Figures Corporate Aaa Bond# Prime Bank -Loan Rate- 18 1 15 29 13 27 10 24 Sep Oct Nov 1991 Dec Jan 20 3 17 1 15 29 12 26 10 24 7 21 Feb Mar Apr May Jun 1992 Jul Aug Sep Oct Nov Latest data plotted are averages of rotes available for the week ending: November 6, 1992 1992 90-Day CDs 30—Day Commercial Paper 90-Day Bankers' Acceptances Corporate Aaa Bonds Corporate Baa Bonds Municipal Bonds ** Aug 14 21 28 Sep 4 11 18 25 Oct 2 9 16 23 30 Nov 6 * 3.28 3.28 3.34 3.28 3.08 3.07 3.15 3.10 3.09 3.25 3.38 3.39 3.42 3.35 3.37 3.39 3.37 3.17 3.18 3.27 3.26 3.15 3.23 3.27 3.26 3.26 3.25 3.26 3.31 3.25 3.05 3.05 3.12 3.04 3.05 3.18 3.31 3.32 3.35 7.93 7.91 7.97 7.93 7.87 7.91 7.96 7.93 7.92 7.96 8.04 8.07 8.10 8.62 8.62 8.69 8.64 8.54 8.58 8.69 8.64 8.72 8.84 8.93 8.96 9.02 6.05 6.21 6.31 6.24 6.16 6.27 6.33 6.27 6.29 6.34 6.53 6.62 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 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Selected Interest Rates Percent Averages of Daily Figures Federal Fund's Rats 6 20 Sep 4 18 1 15 2S 13 27 10 24 7 21 6 20 3 17 Oct Nov Dec Jan Feb Mar Apr 1 15 29 12 28 10 24 7 21 May 1991 Jun Jul Aug 4 18 2 18 30 13 27 Sep Oct Nov 1992 Latest data plotted are averages of rates available for the week ending: November 6, 1992 1992 Aug 14 21 28 Sep 4 11 18 25 Oct 2 9 16 23 30 Nov 6 * Federal Funds ** 3—Month Treasury Bill 6—Month Treasury Bill *** 3.24 3.33 3.27 3.33 3.09 3.28 3.07 3.41 3.20 3.20 3.05 2.96 3.07 1 —Year Treasury Bill 5-Year Treasury Securities Long-Term Treasury Securities 3.11 3.19 3.28 5.53 7.08 3.07 3.18 3.26 5.48 7.11 3.16 3.24 3.38 5.69 7.23 3.10 3.26 3.26 5.48 7.13 2.91 2.95 3.04 5.26 6.95 2.89 2.90 3.03 5.37 7.02 2.89 2.93 3.04 5.46 7.11 2.69 2.85 2.91 5.26 7.02 2.76 2.78 2.97 5.35 7.12 2.90 2.95 3.12 5.52 7.21 2.95 3.10 3.35 5.83 7.35 2.94 3.22 3.36 7.37 5.85 3.02 3.27 3.42 5.95 7.42 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. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 8 Money Stock (M2) and Non-Mi Components of M2 Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars M2 1992 Sep 21 28 _ Oct 5 12 19 26 Billions 3482.7 3480.7 3488.6. 3498.9 3495.1 3496.2 (left scale) M2 (right scale) Non-M1 M2 Oct Nov Dec Jan Feb Mar Apr Billions Sep 21 28 Oct 5 12 19 26 2491.7 2489.5 2488.9 2492.1 2489.9 2487.1 T ~1 'I 1 I 1 I 2 16 30 14 20 11 25 I 23 6 20 3 17 2 16 30 13 27 11 25 Sep 1_992 0 22 6 20 3 17 31 14 20 12 26 9 23 May Jun 1991 Jul Aug Sep Oct Nov 1992 Latest data plotted week ending: October 26, 1992 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, 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) To nwnmnfl Compounded annual rates of change, average of four weeks ending: loxne average 10/28/gi l/27/g2 3/23/92 4/27/92 5/25/92 6/29/92 7/27/92 8/24/92 of four weeks ending: 3/23/92 4/27/92 5/25/92 6/29/92 7/27/92 8/24/92 9/28/92 10/26/92 4.3 3.0 2.7 1.9 1.6 1.8 2.0 2.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.0 2.4 1.2 0.8 1.2 1.6 1.9 -1.0 -1.7 -1.6 -0.6 0.2 0.8 -1.3 -1.3 -0.1 0.7 1.4 -2.1 -0.3 0.8 1.5 1.2 2.2 2.8 Prepared by Federal Reserve Bank of St. Louis Savings and Money Market Funds Averages of Daily Figures Seasonally Adjusted Billions of Dollars 1190 -------- 1----------1--------- Billions of Dollars 415 Savings 1145 1992 Billions Sep 21 28 Oct 5 12 19 26 1162.7 1163.2 11C 4.2 111 0.2 11/ 1.9 11/ 3.6 ** — *"*. k-' 4 "v. 3(5 * ^ 1 ► _____ ^ ___ 1100 ^ * *“ N 310 Morn y Mark vt (rig it scale ) _ . > k/ 1055 340 Mo ney Meirket 199 2 SILL ons Savin )• Dep OftftS (| eft sea e) Sep 21 1010 965 Oct T ■ "T ' 1 ■ » f 5 12 19 26 34 3.9 040. t> 342.8 347.7 350.7 349.4 ■ ' 1 ' 1 ' i 1 i ‘'Ml 1 >-r-» i 2 16 30 14 28 It 25 8 23 6 20 3 17 2 16 30 13 27 11 25 I 22 6 20 3 17 31 14 28 12 26 8 23 Sep Oct Nov .1991 Dec Jan Feb Mar Apr May Jun 1992 Jul Aug Sep Oct 315 290 Nov Note: Savings deposits are at all depository institutions. Money market funds are general purpose and broker/dealer. Large and Small Time Deposits1 / All Depository Institutions Averages of Daily Figures, Seasonally Adjusted Billions of Dollars 475 Billions of Dollars ---------1----------1--------Small Time 1992 Billions \ N **s 5Small Tl 445 Sep 21 28 Oct 5 913.7 909.5 904.0 19 26 89 6.9 89 3.6 s \S 415 n\ 315 355 La •ge Tim s (left scale) s Tinne Bill ons * N 376.0 375.5 377.8 373.8 368.9 945 * i V 2 14 14 14 21 II 25 I 27 ( 20 3 17 2 11 31 11 27 II 25 I 22 t 20 3 17 31 14 21 12 21 1 23 Sep Oct Nov 1991 Dec Jan Feb Mar Apr May Jun 1992 Jul Aug Sep Oct Nov Latest data plotted week ending: October 26, 1992 1/ Large time deposits are those issued in demoninations of $100,000 or more. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1075 1010 V La rge 1992 — Sep 28 Oct 5 12 19 26 1140 Prepared by Federal Reserve Bank of St. Louis 9 10 Total Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars Sep 30 Oct 7 14 0.299 0.184 0.185 28 Nov 4 0.123 0.084 21 4 18 Billions of Dollars 0.112 2 16 30 13 27 11 25 8 22 5 19 4 II 1 15 2! 13 27 Sep Oct Nov Dec Jan Feb Mar Apr May 1991 10 24 8 22 5 19 2 16 30 14 28 11 25 Jun Jul Aug Sep Oct Nov 1992 Adjustment + Seasonal Borrowings from federal Reserve banks Averages of Daily Figures Billions of Dollars 1992 Sep 30 — Oct 7 14 Billions 0.299 0.184 0.185 21 0.112 28 Nov 4 0.123 0.084 4 18 2 16 30 13 27 11 25 8 22 5 19 4 18 1 15 29 13 27 Sep Oct Billions of Dollars Nov 1991 Dec Jan Feb Mar Apr May 10 24 8 22 5 19 2 16 30 14 28 11 25 Jun Jul 1992 Nov Aug Sep Oct Latest data plotted week ending: November 4, 1992 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Commercial Paper of Nonfinancial Companies Billions of Dollars 1992 Billions of Dollars Not Seasonolly Adjusted Billions Sep 23 Oct 4 II 136.704 7 145.223 143.113 145.986 146.298 2 IS 30 13 27 11 25 8 22 S IS 4 II 1 15 2) 13 27 Sep Oct Nov 1991 Dec Jan Feb Mar Apr May 18 24 I 22 5 IS 2 IS 31 14 21 11 25 Jun Jul 1992 Nov Aug Sep Oct Latest data plotted week ending: October 28, 1992 Commercial and Industrial Loans'7 Weekly Reporting Large Commercial Banka2/ Seasonally Adjusted Billions of Dollars 310 3(0 3(0 320 Billions of Dollars I 300 ------------ 1---------------1-------------- Compounded annu al rates of change, average of the fou weeks ending October 21, 1992 rom the four weeks enc ing: Oct 23, 1991 -i .9 Jan 22, 1992 ).7 Apr 22. 1992 - T.2 May 20, 1992 -( . 9 Jun 24. 1992 k6 Jul 22, 1992 -41.6 1992 Billions 276.862__ 276.249 277.484 Oct 277.176 1 4- 277.220 2 277.129 1 2 3 3(0 340 320 AU< 300 300 200 280 2(0 4 II 2 16 31 13 27 11 25 1 22 5 IS 4 II I 15 2S 13 27 II 24 Sep Oct Nov 1991 Dec Jan Feb Mar Apr May I 22 5 IS Jun Jul 1992 Aug 2 16 30 14 21 It 25 Sep Oct 260 Nov Latest data plotted week ending: October 21, 1992 1/ Commercial and industrial loans include banker's acceptances and commercial paper. 2/ Banks with domestic assets greater than $1.4 billion n ., _ , ._ _ . .^ , Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 Dollar’s Trade-Weighted Exchange Index Averages of Daily Figures 1992 1973=100 Sep 30 4 II 2 1$ 30 13 27 It 25 I 22 S IS 4 II 1 15 29 13 27 10 24 8 22 5 1! 2 16 30 14 21 Sep Oct Nov Dec Jan 1991 Feb Mar Apr May Jun Jul Aug Sep Oct Nov 1992 Latest data plotted week ending: November 4, 1992 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 >< K < fK CO (J) J http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis