capital marl

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Capital Marl

Index
SUBSCRIPTION RATES: Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 each. Address requests to Publications Services, Divi-sion of Administrat ive Services, and make payment remittance payable to the order of the Board of Governors of the Federal Reserve System in a form collectible at par in U.S. Currency.
TABLES
1 - 6 SECURITY VOLUME AND YIELDS 7, 8 STOCK MARKET AND SECURITY
CREDIT 9 - 16 MORTGAGE MARKET
SYMBOLS e ESTIMATE P PRELIMINARY r REVISED n . a NOT A V A I L A B L E
DATA DO NOT # $ T
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

T a b l e 1
YIELDS, VOLUME AND RECEPTION
C O R P O R A T E B O N D MARKET
WEEK ENDING YIELDS VOLUME
WEEK ENDING N E W ISSUE 1 RECENTLY 2 G R O S S 3 PER C E N T N E W ISSUES 4 A a a UTIL ITY O F F E R E D O F F E R I N G S S O L D BY END IN SYNDICATE
A a a UTIL ITY ( $ M I L L I O N S ) O F W E E K ( $ M I L L I O N S )
1977 - November 4 8 . 3 5 8 .32 306 100 0 11 8 . 2 9 8 .26 699 97 40 18 8 . 2 4 8 .24 409 95 21 25 8 . 2 3 8 .19 390 96 48
December 2 8 . 2 6 8 .23 770 64 295 9 8 .35 8 .34 224 82 160
16 8 . 3 6 8 . 3 8 581 69 283 23 8 . 4 1 74 86 121 30 8 .48 13 86 116
1978 - January 6 8 .47 0 13 8 . 7 0 8 . 6 5 r 415 95 39 20 8 . 68p 8 . 66p 412 88 72
MUNICIPAL B O N D MARKET
YIELDS VOLUME WEEK ENDING M O O D Y ' S B O N D B U Y E R G R O S S 3 PER C E N T N E W ISSUES 4
NEW ISSUE 2 0 - B O N D O F F E R I N G S S O L D BY END IN SYNDICATE A a a INDEX ( $ M I L L I O N S ) O F W E E K ( $ M ILL IONS)
1977 - November 4 5 . 2 0 5 .55 530 87 124 11 5 . 2 0 5 .51 554 86 140 18 5 .15 5 .45 1,197 74 306 25 5 . 0 5 5 .45 702 93 271
December 2 5 . 0 5 5 .47 392 81 221 9 5 . 0 5 5 .54 465 71 281
16 5 . 0 0 5 .55 1 ,709 87 420 23 5 .10 5 .62 810 70 487 30 5 . 1 5 5 .66 127 81 428
1978 - January 6 5 . 1 5 5 . 6 4 145 87 316 13 5 .25 5 .75 858 89 284 20 n . a . 5 .74 807 82 273
N O T E S :
1 Federal Reserve series of implied yield on newiy issued, Aaa-rated utility bond with 5-year call protection.
2 Federal Reserve series of implied free-market yield on competitively bid Aaa-rated utility bond with 5-year call protection, released from price restrictions sometime during the last four weeks.
3 Estimated by F.R. on the basis of available data.
4 Corporate Market: Salomon Brothers Bond Market Roundup; Municipal Market: Weekly Bond Buyer. Data are adjusted by Federal Reserve when necessary to make coverage of this series consistent with the gross offerings series.

T a b l e 2
HIGH GRADE BOND YIELDS
DATE 1
NEW I S S U E A a a UTILITY
2 RECENTLY OFFERED
A a a UTILITY
3 MOODY'S S E A S O N E D
CORPORATE A a a
4 U . S . GOVT. 20-YEAR
C O N S T A N T MATURITY
5 BOND BUYER
2 0 - B 0 N D INDEX
1973 - High Low
8 .52 7 .29
(8 /10) (1 /21)
8 .32 (8 /10) 7 .28 ( 1 / 5 )
7 .77 7 .11
(8 /24) (1 /5 )
7 .79 6 .42
(6 /10) (1 /5 )
5 .59 4 .99
(8 /3 ) (10 /11)
1974 - High Low
1 0 . 6 1 8 .05
(10 /4) (2 /15)
10.52 (10 /11) 8 . 1 3 ( 1 / 4 )
9 .39 7 .73
(10/11) (1 /4 )
8 .68 7 .39
(8 /30) ( 1 / 4 )
7 .15 5 . 1 5
(12 /12) ( 2 / 7 )
1975 - High Low
9 . 8 0 8 .89
(5 /2 ) (2 /7 )
9 . 7 1 (5 /25) 9 .06 (2 /28 )
9 . 0 1 8 .57
(5 /2 ) (2 /28)
8 . 6 3 7 , 6 3
(9 /19) (2 /21)
7 .67 6 .27
(10 /3 ) (2 /13)
1976 - High Low
8.95 7 .93
(5 /28) (12 /10)
9 . 1 0 ( 1 / 2 ) 7 .84 (12 /31)
8 .66 7 . 9 1
(5 /28) (12/31)
8 .17 7 .27
(5 /28) (12 /31)
7 .29 5 . 9 5
(1 /2 ) (12 /16)
1977 - High Low
8 .36 7.90
(12 /16) (1 /7 )
8 . 48 (12 /30) 7 .95 ( 1 / 7 )
8 . 2 8 7 .88
(12/30) (1 /7 )
7 .99 7 .26
(12 /30) (1 /7 )
5 . 9 3 5 . 4 5
(2 /4 ) (11 /17)
1977 - Dec. 2 9
16 23 30
8 .26 8 .35 8 .36
8 . 2 3 8 .34 8 . 3 8 8 . 4 1 8 .48
8 .08 8 .13 8 .18 8 . 2 3 8 .28
7.75 7 . 8 1 7 .84 7 .89 7.99
5 .47 5 . 5 4 5 . 5 5 5 . 6 2 5 .66
1978 - J a n . 6 13 20
8 . 7 0 8 .68p
8 .48 8 , 6 5 r 8 . 6 6 p
8 . 3 0 8 . 4 0 r 8 .44p
8 .02 8 . 1 8 8 .17
5 .64 5 .75 5 .74
NOTES: 1 Federal Reserve series of implied yield on newly issued, Aaa-rated utility bond with 5-year call protection. 2 Federal Reserve series of implied free-market yield on competitively bid Aaa-rated utility bond with 5-year call protection released from price restrictions sometime during ilu. I=n< 4
weeks. 3 Weekly average of daily closing figures.
4 Weekly average of daily figures. U.S. Treasury data. 5 Thursday figures. The average rating of the 20 bonds used in this index falls midway between the four top groups as classified by Moody's Investors Service. >

Table 3
LONG-TERM CORPORATE AND STATE AND LOCAL GOVERNMENT
SECURITY OFFERINGS AND PLACEMENTS IN MILLIONS OF DOLLARS
PERIOD GROSS PROCEEDS
CORPORATE
1977 1976 1 1975 1 STATE AND LOCAL
1977 1976 1975
January February March
April May June
July August September
October November December
01 02 03 0 4
1st Half 3 Qtrs. Year
3 ,989 2 ,708 5 ,495
3 , 6 3 9 3 ,735 5 . 3 2 1
4 ,074 3 . 3 2 2 3 ,905
3 , 8 0 0 e 4 , 8 0 0 e 4,lOOe
12,192 12 .695 1 1 , 3 0 1 12 ,700e
24 ,887 36 ,188 48 ,888e
3 ,381 3 ,863 6,632
3,507 4 ,186 6 ,439
3,216 3 ,357 4 ,817
4 ,431 3 ,047 6 ,480
13,876 14,132 11,390 13,958
28,008 39,398 53,356
5 ,367 4 ,528 5 ,378
4 ,294 5 ,798 5 ,596
4 ,327 2 ,405 2 ,836
4 ,705 4 ,076 4 ,307
15,273 15,688
9 ,568 13,088
30 ,961 40,529 53,617
3 ,556 3 ,435 4 ,137
3 ,456 4 , 5 7 1 5 ,787
3 ,185 4 ,080 3 , 8 9 1
3 ,800e 3 ,300e 3 ,400e
11 ,128 13,814 11,156 10,500e
24,942 36 ,098 46 ,598e
2 ,451 2 ,885 3 ,365
2,218 3,575 3 ,115
2,734 2 ,821 2,814
3 ,524 3 ,336 2,342
8 ,701 8 ,908 8 ,369 9,202
17,609 25,978 35,180
2 ,361 2 ,387 2 ,135
2,406 2,900 3,064
3 ,580 2,783 2,159
2 ,323 2 ,381 2 ,052
6 ,883 8 ,370 8,522 6,756
15,253 23,775 30 ,531
NOTES: 1 Securities and Exchange Commission estimates of gross proceeds.
2 Securities Industry Association estimates of principal amounts. 3 Es t ima ted by F e d e r a l Reserve on t h e b a s i s of a v a i l a b l e d a t a .

Table 4
NEW CORPORATE SECURITY ISSUES BY TYPE OF ISSUE AND ISSUER
IN MILLIONS OF DOLLARS
PERIOD
1976 -
1977 -
1976 -
1977 -
I I I I I I IV
I I I I I I IV
September October November December
J anua ry F e b r u a r y March A p r i l May June J u l y August September
GROSS PROCEEDS BY TYPE OF ISSUE
TOTAL BONDS
PUBLICLY OFFERED
PRIVATELY PLACED
COMMON AND
PREFERRED STOCK
13,876 14,132 11,390 13,958
12,192 12,695 11 ,301
4,817 4 ,431 3 ,047 6 ,480
3 ,989 2 ,708 5 ,495 3,639 3 ,735 5 . 3 2 1 4 ,074 3.322 3 ,905
7 ,569 7 ,427 4 ,904 6 ,553
6 ,504 5 ,606 6 ,366
2,100 2,729 1,256 2 ,568
2 ,786 1,102 2,610 1 , 9 6 1 1,600 2,045 2 ,360 1 ,947 2 ,059
2 ,754 3,584 4 ,624 4 ,846
3 , 0 7 1 4 ,215 3 ,057
2 , 1 6 3 753
1,101 2,992
601 786
1 ,690 1 ,087
887 2 , 2 4 1 1,019
818 1,220
3 ,553 3 , 1 2 1 1,861 2,559
2 ,617 2 ,874 1 ,878
554 949 690 920
602 820
1,195 591
1 ,248 1,035
695 557 626
MEMO ISSUES INCLUDED
FOREIGN CONVERTIBLE
1,340 1 ,843 1 ,267 1 ,795
858 1,800 1,560
400 235
1,310 250
300 433 125 600 350 850 935 150 475
262 478 199
55
6 108 495
92 21 31
3
0 6 0
50 2
56 25
262 208
GROSS PROCEEDS BY TYPE OF ISSUER
MANUFAC-TURING
4,497 3 ,757 2 ,982 4 ,244
2 ,774 3 ,182 2 ,826
753 1,349
510 2 ,385
906 743
1 ,125 1 ,348
652 1 ,182 1,309
966 551
PUBLIC UTILITY
4,044 3,140 3,317 3 ,897
3,019 3 ,852 2 ,757
1 .465 1 ,414 1 ,327 1 ,156
986 435
1 ,598 774
1,612 1.466
843 497
1 ,417
COMMUNI-CATIONS
765 1,879
378 541
1,415 1 ,044
644
140 155 190 196
50 557 808 334 294 416 277
45 322
OTHER ISSUERS
4,569 5 ,358 4,715 5,276
4,986 4 ,618 5 ,072
2,459 1 ,513 1 ,019 2 ,744
2 ,048 973
1,965 1,182 1 ,179 2 ,257 1,646 1 ,813 1 ,614
NOTES: 1 Other issuers are extractive, railroad and other transportation,
Source: Securities and Exchange Commission.
real estate and finance, and commercial and other.
%

# # e # e e e # #
1
Table 5A
INTERMEDIATE AND LONG-TERM PUBLIC SECURITY OFFERINGS

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