j.sr .a nancial data · 19/4/1990 · billions of dollars money stock (ml ) averages of daily...

1 »

RESEARCH LIBRARYFederal Reserve Bank

j.sr .anancial Datamayo 41990 April 19,1990

THE WEEK'S HIGHLIGHTS:

* The consumer price index (CPI) rose at a seasonally adjusted annual rate of 5.8 percent in March, following an identical rise in February. The CPI has risen at an 8.5 percent rate since December 1989 and 5.2 percent since one year ago.

Producer prices of finished goods (PPI) declined at an annual rate of 2 percent in March, after remaining unchanged in February. The PPI has risen at a 6.7 percent rate since December 1989 and 4.4 percent since March 1989.

U. S. industrial production increased at an annual rate of 8.1 percent in March, following a revised rate of increase of 10.6 percent in February. Production has increased at an annual rate of 0.7 percent since December 1989 and 1 percent since a year ago.

U.S. housing starts fell 9.3 percent in March, following a revised decline of 7.1 percent in February. Housing starts were down 6 percent from one year ago.

THEFEDERAL

A RESERVE X HANK of si: ions

Views expressed do not necessarily reflect official positions of the Federal Reserve system.Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASEAVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS

B1LL1.QMS298.5300.6301.4304.2302. I304.5

12 26 8 23 6 20 4 18 1 15 28 13 27 10 24 7 21 7 21 4 188 22 8 22 5 18 3 17 31 14SEP OCT FEB MAR APRJUN JUL

1989 1990

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING. APRIL 18, 1990

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE BAM<$. CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL DEPOSITORY INSTITUTIONS) AND AN ADJUSTMENT FOP. RESERVE REQUIREMENT RATIO CHANGES. THE MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT. DATA 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

4/19/89 7/12/89 9/20/89 10/18/89 1 1/15/89 12/13/89 1/24/90 2/21/90TO THE AVERAGE TWO MAINTENANCE PERIODS ENDING.

OF

9/20/89 2.610/18/89 3. I 4.311/15/89 3.0 3.7 4. 112/13/89 3.0 3.6 3.8 2.51/24/90 5.2 6.6 8.4 9.0 12. 12/21/90 4.4 5.4 6.3 6.2 7.5 9.33/21/90 5.2 6.4 7.5 7.7 9.1 10.9 5.54/18/90 5.0 6.0 6.8 6.9 7.8 8.9 4.4 8.3

j

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

JL 1 _____

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

BILLIONS OF DOLLARS

MONEY STOCK (Ml )AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED ILL IONS OF DOLLARS 815

BILLIONSMAR. 806.9

802.5

804.8808.0805.6

6 20 e 20 3 17 1 15 39 12 20 10 24 7 21 4 18 2 10 30 13 27 It 25 8 22 5 19 5 19 2 16 30FEB MAR APR AUG SEP NOV DEC

1989 1990

LATEST DATA PLOTTED WEEK ENDING* APRIL 9, 1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE DEPOSITS AND TRAVELERS CHECKS.

MONEY STOCK (Ml )

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:

4/10/89 7/10/89 9/11/89 10/9/89 11/6/89 12/11/89 1/8/90 2/12/90TO THE AVERAGE OF FOUR WEEKS ENDING:

9/11/89 -0.510/ 9/89 0.3 4.611/ 6/89 1.3 5.3 6.412/11/89 1 .5 4.7 5.0 4.91/ 8/90 2.3 5.5 6. 1 6.3 5.82/12/90 2.0 4.5 4.6 4.4 3.6 4.03/12/90 2.9 5.5 5.8 5.9 5.6 6.7 5.44/ 9/90 2.8 5.1 5.4 5.4 5.0 5.7 4.5 7.6


3Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

4

RATIO3.0

MONEY MULTIPLIER^CURRENCY COMPONENT OF MONEY STOCK s

AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED

2.8

2.7

2.6

0 20 FEB

0 20 MAR

—1--------- 1------------1------------1990 RATIO

JAN. 22 2.631FEB. 5 2.666

19 2.661MAI

AP

R. 519

R. 2

2.62.62.6

753970

Ml Ml LTIPL IER

!lll -LLL -LLL -LUI _LLL 1 1 1 1 -LLL -LLL -LI 1 1 -LLL -LLL 1 1 IL -LLL -LLL .1 LI L3 17APR

I IS 20 12 20 10 24MAY JUN JUL

1989

7 21 AUG

4 10SEP

RATIO3.0

2.7

2.6

2 16 30 IS 27 11 2S 0 22OCT NOV DEC JAN

5 19 S 19 FEB MAR

1990

2 10 30APR

LATEST DATA PLOTTED TWO WEEKS ENDING: APRIL 2, 1990

BILLIONS OF DOLLARS 234

222

ILL IONS OF DOLLARS 234I------ 1---------1---------1----------- 1--------

_ COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF - THE FOUR ifrEEKS ENDING _

_ THE FOU- FEB. 12 _ JAN. 0

DEC. 11

WEEK, 199 , 199 , 198 , 198 , 198 , 198 , 198

S ENDING:0 10.50 12.29 11.9 /

S. -

- OC _ JU _ AP

T. 9 L. 10 R. 10

9 8.S9 7.;9 6.:

CURRE NCY y -

-_

-l

MAP990. 5

12

BILL 1227.227.

UM5 _75

Ill hi -LLL LI 1 1 LLL 1111 -LLL LLL Hill -LLL LLL

26 229.3 _APR. 2 229.5

9 229.1 -1111111111111111 Is

214

6 20 0 20 3 17FEB MAR APR

1 IS 29 12 20 10 24 MAY JUN JUL

1989

7 21 4 10 2 10 30 13 27 II 25 6 22 5 19 5 19 2OCT NOV DECAUG SEP FEB MAR

1990

16 30 APR

LATEST DATA PLOTTED WEEK ENDING: APRIL 9, 1990

1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE

2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

PREPARED BY FEDERAL RESERVE BAM( OF ST. LOUIS


TOTAL CHECKABLE DEPOSITSAVERAGES OF DAILY FIGURES

BILLIONS of DOLLARS SEASONALLY ADJUSTED billions of dollars

BILLIONS571.7567.4566.6568.0

575 — APR 570.9569.0

565

6 20 a 20 3 17 1 >5 29 12 28 10 24 7 21 4 18 2 16 30 13 27 II 25 8 22 5 19 3 19 2 16 30FEB MAR APR AUG SEP NOV DEC FEB MAR

LATEST DATA PLOTTED WEEK ENDING: APRIL 9. 1990

TOTAL(CHECKABLE(DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS


4/10/89 7/10/89 9/11/89 10/9/89 11/6/89 12/11/89 1/8/90 2/12/90TO THE AVERAGEOF FOUR WEEKSENDING:

9/11/89 -2.210/ 9/89 -0.9 5.011/ 6/89 0.3 5.8 7.512/11/89 0.6 5.0 5.6 5.21/ 8/90 1.5 5.7 6.4 6.4 5.52/12/90 0.6 3.7 3.4 2.8 1.2 0.43/12/90 1.6 4.8 5.0 4.8 4.0 4.5 2.54/ 9/90 1.5 4.3 4.3 3.9 3. 1 3.3 1.6 6.6



6

YIELDS ON SELECTED SECURITIESAVERAGES OF DAILY RATESPERCENT

12.0 i—PERCENT — 12.0

PRIME B/ LOAN RA'

CORPORATE Aaa BONDS

3 17 3 17 31 14 28 12 26 0 23 7 21 4 18 1 13 28 13 27 10 24 8 22 5 18 2 16 2 16 30 13 27FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

1989 1990

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 20, 1990.

199090 DAY

CD'S

30-DAYCOMMERCIAL

PAPER

90-DAYBANKERS'

ACCEPTANCESCORPORATEAM BONDS

CORPORATEBM BONDS

MUNICIPAL BONDS xx

FEB. 2 8.20 8.22 8.01 9.15 10. 10 7.249 8.22 8.23 8.02 9.22 10. 13 7.20

16 8.20 8. 19 8.01 9.21 10.11 7.1623 8.24 8.22 8.05 9.27 10. 19 7.27

MAR. 2 8.25 8.23 8.06 9.26 10.20 7.259 8.29 8.29 8. 10 9.35 10.24 7.25

16 8.42 8.35 8. 19 9.40 10.22 7.3223 8.38 8.35 8. 18 9.39 10. 17 7.3130 8.35 8.35 8. 18 9.37 10.20 7.33

APR. 6 8.37 8.34 8. 17 9.38 10.22 7.3313 8.35 8.30 8. 14 9.38 10. 18 7.3120 * 27

8.34 8.29 8.15 9.42 10.22 N. A.

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.15 RELEASE.* AVERAGES OF RATES AVAILABLE** BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA

N.A. - NOT AVAILABLE



SELECTED INTEREST RATESPERCENT AVERAGES OF DAILY RATES

10.0

FEDERAL FUNDS RATE

5-YEARTREASURY SECURITIES

DISCOUNT RATE

3 17 3 17 31 14 28 12 28 8 23 7 21 4 18 1 15 29 13 27 10 24 8 22 5 18 2 18 2 18 30 13 27APR MAY JUL AUG OCT NOV JAN FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi APRIL 20, 1990.

1990FEDERAL

FUNDS X*

3-MONTHTREASURY

BILL

6-MONTH TREASURY BILL mat

l-YEARTREASURY

BILL

5-YEARTREASURY

SECURITIES

LONG-TERMTREASURY

SECURITIES

FEB, 2 8.24 7.76 7.73 7.54 8.39 8.619 8.22 7.80 7.72 7.58 8.44 8.63

16 8.21 7.66 7.65 7.50 8.36 8.5823 8.25 7.74 7.77 7.61 8.53 8.75

MAR. 2 8.27 7.76 7.70 7.58 8.44 8.679 8.28 7.91 7.79 7.76 8.59 8.74

16 8.27 7.96 7.89 7.81 8.68 8.7923 8.27 7.93 7.92 7.76 8.60 8.6530 8.26 7.85 7.83 7.75 8.57 8.68

APR. 6 8.33 7.77 7.81 7.71 8.59 8.7213 8.25 7.78 7.80 7.70 8.60 8.7220 X 27

8.27 7.77 7.75 7.78 8.74 8.89

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE EXCLUDING LONG-TERM TREASURY* AVERAaSUOFTRATESHAVAILABLE°MPUTED BY ™IS BANK‘ TREASURY BILL YIELDS ARE ON A DISCOUNT BAS IS.

aew SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN *8« AUCTI ON AVERAGE ( DISCOUNT )



8

MONEY STOCK ( M2)AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BILLIONS OF DOLLARS —i--------- ------------ 3300

BILLIONS OF DOLLARS 3300 --------- 1--------- 1------

3275— MAR. 3266.73266.33267.7

3269.3 3250— APR.3250

32003200

31753175

31503150

3100

3075

6 20 6 20 9 17 I 15 20 12 26 10 24 7 21 4 16 2 16 50 19 27 II 25 8 22 5 10 5 19 2 16 90FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

1989 1990LATEST DATA PLOTTED WEEK END INGt APRIL 9, 1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE

M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED TO U.S. RESIDENTS B^ FORE IGN 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 )


4/10/89 7/10/89 9/11/89 10/9/89 11/6/89 12/11/89 1/8/90 2/12/90TO THE AVERAGE OF FOUR WEEKS ENDING:

9/11/89 5. 110/ 9/89 5.3 7.511/ 6/89 5.6 7.5 7.012/11/89 5.8 7.5 7.2 7.51/ 8/90 5.9 7.3 7.0 7. 1 6.92/12/90 5.9 7. 1 6.7 6.7 6.5 6.03/12/90 6. 1 7.3 7.0 7. 1 7.0 6.9 7. 14/ 9/90 5.9 6.9 6.6 6.6 6.4 6.1 6. 1 6.3



BILLIONS OF DOLLARS 2160

ALL DEPOSITORY TOTAL TIME LARGE TIME

AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED

INSTI TUT IONS DEPOSITS 1/ DEPOSITS 2/

BILLIONS OF DOLLARS 2160I—1-------1--------1---------1—

_ COMPOUNDED ANNUAL RATESOF CHANGE. AVERAGE OF

“ THE FOUR WEEKS ENDING - APRIL 9. 1990 FROMTHE FOU& WEEKS ENDING:

-

~ FEB. 12, 199 - JAN. 8, 199 _ DEC. 11, 198

NOV. 6, 198 “ OCT. 9, 198

0 -1 o -i.;9 -1 .29 -o.:9 -0.2 9 o.:9 2.

TOTAL TIME )EPOS TS

N k

i i i i

- APR. 10 , 198 1 1

1 V>_______

- 1MAF

990

. 5

BILLI

2103J2U5. -.9 “

=/"

i l-LL J..U. .i..i i. 11.1.1 111 INI 111 111 .l-U I _1_1_L

19 2103.2 _26 2100.7APR. 2 2097.3 “

9 2101.8 -111111111111111113

2130


BILLIONS OF DOLLARS BILLIONS OF DOLLARS

1520. BILLIONS MAR.LARGE TIME DEPOSITS

542.0539.3540.8

6 20 6 20 3 17 1 15 29 12 20 10 24 7 21 4 18 2 16 30 IS 27 11 25 8 22 5 19 5 19 2 16 50FEB MAR APR AUG SEP NOV DEC FEB MAR

1989 1990


1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIIC DEPOSITS AND LARGE TIME DEPOSITS.

2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE



10

BORROWINGS FROM FEDERAL RESERVE BANKSbillions of dollars AVERAGES OF DAILY FIGURES billions of dollars

1990 MILLIONS*R. 14 2130

21 2226 28 2164

PR. 4 2150 11 2014 18 1750

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt APRIL 18. 1990BILLIONS OF DOLLARS BILLIONS OF DOLLARS

128ft MILLIONS

ADJUSTMENT + SEASONAL BORROWINGS

1 15 29 12 20 10 24 7 21 5 19 2 16 50 IS 27 11 25 8 22 6 20 5 17 51 14 28 14 28 II 25JUN JUL SEP OCT FEB MAR

2.5

2.0

1 .5

0.5

0.0

LATEST DATA PLOTTED WEEK ENDINGt APRIL 18. 1990

PREPARED BY FEDERAL RESERVE BANK OF ST LOUIS


7

COMMERCIAL PAPER OF NONFINANCIAL COMPANIESBILLIONS OF DOLLARS NOT SEASONALLY ADJUSTED BILLIONS of dollars

MILLIONS

MAR. 7140,040

142,111APR. 4

146,550

I 15 1 15 29 12 26 10 24 7 21 5 10 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 1JUN JUL SEP OCT FEB MAR APR

145

140

135

130

115

110

LATEST DATA PLOTTED WEEK ENDING. APRIL II. 1900* DASHED LINE REPRESENTS DATA USING AN OLD REPORTING PANEL AND IS NOT COMPARABLE TO CURRENT DATA.

BUSINESS LOANS 17( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERClAL BANKS 2/SEASONALLY ADJUSTEDBILLIONS OF DOLLARS

330

FEB MAR APR MAY JUN16 30 13 27 II 25 6 22

AUG SEP OCT NOV

BILLIONS OF DOLLARS 330k 1 1

- COMPOUNDED ANNUAL RAT _ OF CHANGE. AVERAGE OF

THE FOUR WEEKS ENDING- APRIL 4. 1990 FROM_ THE FOUR WEEKS ENDING

_ FEB. 7, 1990 1.9JAN. 3. 1990 0.2

“ DEC. 6, 1989 -1.5_ NOV. 1, 1989 -3.0

OCT. 4, 1989 -1.7

ES -

w rVL ^ A A

- APP . Vi. 5, 989 2.6 \7^

Vv\ / :

_

-

if 1990

FEB. 2 MAR.

87 3

1 ILL IQ

21,06

I

4 -

“in-U11 111 Mil 111 111 1111 J-l-M 111 -UXL -LUJ

14 320,28221 323,012 -28 320,138 -

APR. 4 322,069

i m .... .................................. ;S 20DECJUL

1989

LATEST DATA PLOTTED WEEK ENDING. APRIL 4, 1990

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.

2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION

17 31 14 28 14 26 JAN FEB MAR APR

1990



DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEXAVERAGES OF DAILY FIGURES

1973-100

laHrlQQ

94.2

94.5

93.693.2

I I I II 15 I 15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 II 25 6 22 6 20 3 17 31 14 28 14FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

1989 1990

LATEST DATA PLOTTED WEEK ENDINGt APRIL 18, 1990

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING 10 INDUSTRIAL COUNTRY CURRENCIES.



j.sr .a nancial data · 19/4/1990 · billions of dollars money stock (ml ) averages of daily...

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