[Economic Indicators July, 1995]
[Page Number 30]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
INTEREST RATES AND BOND YIELDS

Short-term interest rates fell in July; longer rates rose.
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                                                                   [Percent per annum]                                                                  
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                                         U.S. Treasury security yields       High-grade                                                                 
                                   ----------------------------------------  municipal    Corporate       Prime       Discount    Prime rate   New-home 
              Period                   3-month     Constant maturities\2\      bonds      Aaa bonds    commercial    rate (N.Y.   charged by   mortgage 
                                     bills (new  -------------------------- (Standard &   (Moody's)    paper,    6      F.R.       banks\4\     yields  
                                     issues)\1\      3-year      10-year     Poor's)\3\                 months\1\     Bank)\4\                 (FHFB)\5\
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1985..............................         7.48          9.64        10.62         9.18        11.37          8.01         7.69         9.93       11.55
1986..............................         5.98          7.06         7.68         7.38         9.02          6.39         6.33         8.33       10.17
1987..............................         5.82          7.68         8.39         7.73         9.38          6.85         5.66         8.21        9.31
1988..............................         6.69          8.26         8.85         7.76         9.71          7.68         6.20         9.32        9.19
1989..............................         8.12          8.55         8.49         7.24         9.26          8.80         6.93        10.87       10.13
1990..............................         7.51          8.26         8.55         7.25         9.32          7.95         6.98        10.01       10.05
1991..............................         5.42          6.82         7.86         6.89         8.77          5.85         5.45         8.46        9.32
1992..............................         3.45          5.30         7.01         6.41         8.14          3.80         3.25         6.25        8.24
1993..............................         3.02          4.44         5.87         5.63         7.22          3.30         3.00         6.00        7.20
1994..............................         4.29          6.27         7.09         6.19         7.97          4.93         3.60         7.15        7.49
                                                                                                                                                        
1994:July.........................         4.39          6.48         7.30         6.19         8.11          5.13    3.50-3.50    7.25-7.25        7.71
      Aug.........................         4.50          6.50         7.24         6.19         8.07          5.19    3.50-4.00    7.25-7.75        7.67
      Sept........................         4.64          6.69         7.46         6.33         8.34          5.32    4.00-4.00    7.75-7.75        7.70
      Oct.........................         4.96          7.04         7.74         6.50         8.57          5.70    4.00-4.00    7.75-7.75        7.76
      Nov.........................         5.25          7.44         7.96         6.96         8.68          6.01    4.00-4.75    7.75-8.50        7.81
      Dec.........................         5.64          7.71         7.81         6.76         8.46          6.62    4.75-4.75    8.50-8.50        7.83
                                                                                                                                                        
1995:Jan..........................         5.81          7.66         7.78         6.53         8.46          6.63    4.75-4.75    8.50-8.50        8.18
      Feb.........................         5.80          7.25         7.47         6.24         8.26          6.38    4.75-5.25    8.50-9.00        8.28
      Mar.........................         5.73          6.89         7.20         6.10         8.12          6.30    5.25-5.25    9.00-9.00        8.21
      Apr.........................         5.67          6.68         7.06         6.01         8.03          6.19    5.25-5.25    9.00-9.00        8.15
      May.........................         5.70          6.27         6.63         5.90         7.65          6.07    5.25-5.25    9.00-9.00        7.99
      June........................         5.50          5.80         6.17         5.83         7.30          5.79    5.25-5.25    9.00-9.00        7.73
      July........................         5.47          5.89         6.28         5.98         7.41          5.68    5.25-5.25    9.00-8.75  ..........
                                                                                                                                                        
Week ended:                                                                                                                                             
1995:July 8.......................         5.53          5.74         6.12         6.05         7.29          5.71    5.25-5.25    9.00-8.75  ..........
           15.....................         5.40          5.70         6.09         5.82         7.26          5.59    5.25-5.25    8.75-8.75  ..........
           22.....................         5.46          5.97         6.37         6.02         7.48          5.66    5.25-5.25    8.75-8.75  ..........
           29.....................         5.47          6.07         6.46         6.02         7.56          5.73    5.25-5.25    8.75-8.75  ..........
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    \1\Bank-discount basis.
    \2\Yields on the more actively 
traded issues adjusted to constant 
maturities by the Treasury 
Department.
    \3\Weekly data are Wednesday 
figures.
    \4\Average effective rate for 
year; opening and closing rate for 
month and week.

    \5\Effective rate (in the 
primary market) on conventional 
mortgages, reflecting fees and 
charges as well as contract rate and 
assumed, on the average, repayment 
at end of 10 years.

    Sources: Department of the 
Treasury, Board of Governors of the 
Federal Reserve System, Federal 
Housing Finance Board, Moody's 
Investors Service, and Standard & 
Poor's Corporation.