[Economic Indicators September, 2009]
[Page Number 30]
[From the U.S. Government Publishing Office, www.gpo.gov]


 
INTEREST RATES AND BOND YIELDS

Interest rates fell in September.
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                                                                   [Percent per annum]
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                                      U.S. Treasury security yields        High-grade                Discount window
                                -----------------------------------------  municipal              (N.Y. F.R. Bank) 4 5                         New-home
                                                Constant maturities \2\      bonds     Corporate ---------------------- Prime rate   Federal   mortgage
             Period                 3-month   ---------------------------  (Standard   Aaa bonds                        charged by    funds     yields
                                   bills (at                               & Poor's)   (Moody's)   Primary   Discount    banks \5\  rate \6\  (FHFB) \7\
                                 auction) \1\   3-year  10-year  30-year      \3\                  credit      rate
--------------------------------------------------------------------------------------------------------------------------------------------------------
1999...........................        4.66       5.49     5.65     5.87        5.43        7.04  ........        4.62        8.00      4.97       7.04
2000...........................        5.85       6.22     6.03     5.94        5.77        7.62  ........        5.73        9.23      6.24       7.52
2001 ..........................        3.44       4.09     5.02     5.49        5.19        7.08  ........        3.40        6.91      3.88       7.00
2002 ..........................        1.62       3.10     4.61     *           5.05        6.49  ........        1.17        4.67      1.67       6.43
2003 ..........................        1.01       2.10     4.01     *           4.73        5.67      2.12       *            4.12      1.13       5.80
2004 ..........................        1.38       2.78     4.27     *           4.63        5.63      2.34       *            4.34      1.35       5.77
2005 ..........................        3.16       3.93     4.29     *           4.29        5.24      4.19       *            6.19      3.22       5.94
2006...........................        4.73       4.77     4.80     4.91        4.42        5.59      5.96       *            7.96      4.97       6.63
2007 ..........................        4.41       4.35     4.63     4.84        4.42        5.56      5.86       *            8.05      5.02       6.41
2008 ..........................        1.48       2.24     3.66     4.28        4.80        5.64      2.39       *            5.09      1.92       6.05
 
2008:Sept .....................        1.46       2.32     3.69     4.27        5.03        5.65      2.25       *            5.00      1.81       6.09
      Oct .....................         .84       1.86     3.81     4.17        5.68        6.28      1.25       *            4.00       .97       6.10
      Nov .....................         .30       1.51     3.53     4.00        5.28        6.15      1.25       *            4.00       .39       6.16
      Dec .....................         .04       1.07     2.42     2.87        5.53        5.08       .50       *            3.25       .16       5.67
 
2009:Jan.......................         .12       1.13     2.52     3.13        5.13        5.05       .50       *            3.25       .15       5.11
      Feb .....................         .31       1.37     2.87     3.59        5.00        5.27       .50       *            3.25       .22       5.09
      Mar .....................         .25       1.31     2.82     3.64        5.15        5.50       .50       *            3.25       .18       5.10
      Apr .....................         .17       1.32     2.93     3.76        4.88        5.39       .50       *            3.25       .15       4.96
      May .....................         .15       1.39     3.29     4.23        4.60        5.54       .50       *            3.25       .18       4.92
      June ....................         .17       1.76     3.72     4.52        4.84        5.61       .50       *            3.25       .21       5.17
      July ....................         .19       1.55     3.56     4.41        4.69        5.41       .50       *            3.25       .16       5.40
      Aug .....................         .18       1.65     3.59     4.37        4.58        5.26       .50       *            3.25       .16       5.32
      Sept ....................         .13       1.48     3.40     4.19        4.13        5.13       .50       *            3.25       .15  ..........
 
Week ended:
2009:Sept    5.................         .15       1.44     3.37     4.18        4.32        5.12       .50       *            3.25       .15  ..........
            12.................         .14       1.45     3.41     4.25        4.28        5.18       .50       *            3.25       .15  ..........
            19.................         .14       1.52     3.46     4.24        4.15        5.15       .50       *            3.25       .16  ..........
            26.................         .10       1.51     3.43     4.18        4.01        5.14       .50       *            3.25       .16  ..........
      Oct    3.................         .12       1.43     3.28     4.02        3.90        5.00       .50       *            3.25       .12  ..........
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    \1\ High bill rate at auction, 
issue date within period, bank-
discount basis. Data are stop yields 
from uniform-price auctions.
    \2\ Yields on actively traded 
issues adjusted to constant 
maturities.
    \3\ Weekly data are Wednesday 
figures.
    \4\ Discount window borrowing 
for primary credit and discount rate 
(adjustment credit). The rate for 
primary credit replaced the rate for 
adjustment credit.
    \5\ Average effective rate for 
year; rate in effect at end of month 
or week.
    \6\ Daily effective rate; 
weighted average of rates on 
brokered trades.
    \7\ 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.

    * Discount rate (adjustment 
credit) series was discontinued 
after January 8, 2003. Series for 
30-year constant maturity was 
discontinued on February 18, 2002, 
and reintroduced on February 9, 
2006.

    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.