[Economic Indicators December, 1999]
[Page Number 30]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
INTEREST RATES AND BOND YIELDS

Interest rates rose in December.
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                                                                   [Percent per annum]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                     U.S. Treasury security yields       High-grade
                               ----------------------------------------  municipal                 Prime     Discount                          New-home
                                              Constant maturities \2\      bonds     Corporate  commercial  rate (N.Y.  Prime rate   Federal   mortgage
            Period                3-month   ---------------------------  (Standard   Aaa bonds   paper,  6  F.R. Bank)  charged by    funds     yields
                                 bills (new                              & Poor's)   (Moody's)  months \1\      \4\      banks \4\  rate \5\  (FHFB) \6\
                                issues) \1\   3-year  10-year  30-year      \3\
--------------------------------------------------------------------------------------------------------------------------------------------------------
1989..........................        8.12      8.55     8.49     8.45        7.24        9.26       8.80         6.93       10.87      9.21      10.13
1990..........................        7.51      8.26     8.55     8.61        7.25        9.32       7.95         6.98       10.01      8.10      10.05
1991 .........................        5.42      6.82     7.86     8.14        6.89        8.77       5.85         5.45        8.46      5.69       9.32
1992 .........................        3.45      5.30     7.01     7.67        6.41        8.14       3.80         3.25        6.25      3.52       8.24
1993..........................        3.02      4.44     5.87     6.59        5.63        7.22       3.30         3.00        6.00      3.02       7.20
1994..........................        4.29      6.27     7.09     7.37        6.19        7.96       4.93         3.60        7.15      4.21       7.49
1995..........................        5.51      6.25     6.57     6.88        5.95        7.59       5.93         5.21        8.83      5.83       7.87
1996..........................        5.02      5.99     6.44     6.71        5.75        7.37       5.42         5.02        8.27      5.30       7.80
1997..........................        5.07      6.10     6.35     6.61        5.55        7.26       5.62         5.00        8.44      5.46       7.71
1998..........................        4.81      5.14     5.26     5.58        5.12        6.53       *            4.92        8.35      5.35       7.07
 
1998:Dec......................        4.42      4.48     4.65     5.06        5.00        6.22       *       4.50-4.50   7.75-7.75      4.68       6.94
 
1999:Jan .....................        4.34      4.61     4.72     5.16        5.04        6.24       *       4.50-4.50   7.75-7.75      4.63       6.96
      Feb.....................        4.45      4.90     5.00     5.37        5.03        6.40       *       4.50-4.50   7.75-7.75      4.76       6.92
      Mar.....................        4.48      5.11     5.23     5.58        5.10        6.62       *       4.50-4.50   7.75-7.75      4.81       6.86
      Apr.....................        4.28      5.03     5.18     5.55        5.07        6.64       *       4.50-4.50   7.75-7.75      4.74       6.85
      May.....................        4.51      5.33     5.54     5.81        5.17        6.93       *       4.50-4.50   7.75-7.75      4.74       6.89
      June....................        4.59      5.70     5.90     6.04        5.34        7.23       *       4.50-4.50   7.75-7.75      4.76       7.03
      July....................        4.60      5.62     5.79     5.98        5.36        7.19       *       4.50-4.50   8.00-8.00      4.99       7.29
      Aug.....................        4.76      5.77     5.94     6.07        5.59        7.40       *       4.50-4.75   8.00-8.25      5.07       7.09
      Sept....................        4.73      5.75     5.92     6.07        5.70        7.39       *       4.75-4.75   8.25-8.25      5.22       7.09
      Oct.....................        4.88      5.94     6.11     6.26        5.92        7.55       *       4.75-4.75   8.25-8.25      5.20       7.17
      Nov.....................        5.07      5.92     6.03     6.15        5.85        7.36       *       4.75-5.00   8.25-8.50      5.42       7.24
      Dec p...................        5.23      6.12     6.25     6.34  ...........       7.53       *       5.00-5.00   8.50-8.50      5.38  ..........
 
Week ended:
1999:Dec  4...................        5.20      6.08     6.20     6.30        5.89        7.50       *       5.00-5.00   8.50-8.50      5.63  ..........
          11..................        5.05      6.00     6.13     6.22        5.95        7.42       *       5.00-5.00   8.50-8.50      5.45  ..........
          18..................        5.21      6.11     6.24     6.32        5.91        7.52       *       5.00-5.00   8.50-8.50      5.44  ..........
          25..................        5.40      6.26     6.39     6.46        6.00        7.66       *       5.00-5.00   8.50-8.50      5.46  ..........
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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\ Daily effective rate; 
average of the rates on a given day 
weighted by the volume of 
transactions at these rates.
    \6\ 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.

    *Series no longer published by 
Federal Reserve (FR). See FR release 
H. 15 Selected Interest Rates, May 
12, 1997.
    Note.--Data for December 1999 
not plotted in chart.

    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.