Business Services Industry
Money, Credit, And Security Markets - Statistical Data Included
Economic Indicators, April, 2001
MONEY STOCK AND DEBT MEASURES
In March, M2 and M3 rose.
[GRAPH OMITTED]
[Averages of daily figures, except debt; billions of dollars,
seasonally adjusted]
M1 M2
Sum of currency, M1 plus retail
demand deposits, MMMF balances,
travelers' checks, savings deposits
and other (including
checkable deposits MMDAs), and
Period (OCDs) small time deposits
1991: Dec 895.9 3,376.6
1992: Dec 1,024.0 3,430.7
1993: Dec 1,129.2 3,484.3
1994: Dec 1,149.8 3,498.8
1995: Dec 1,126.2 3,641.7
1996: Dec 1,080.5 3,814.2
1997: Dec 1,073.4 4,030.4
1998: Dec 1,097.0 4,383.4
1999: Dec 1,124.3 4,650.0
2000: Dec(r) 1,090.3 4,943.4
2000: Mar 1,113.2 4,717.2
Apr 1,117.3 4,754.8
May 1,106.6 4,761.7
June 1,105.6 4,783.1
July 1,103.9 4,803.3
Aug 1,099.7 4,833.4
Sept 1,095.7 4,865.3
Oct 1,096.1 (r)4,887.0
Nov 1,088.5 4,904.1
Dec(r) 1,090.3 4,943.4
2001: Jan(r) 1,101.2 4,993.9
Feb(r) 1,101.2 5,038.3
Mar 1,110.9 5,098.9
[Averages of daily figures, except debt; billions of dollars,
seasonally adjusted]
Debt
M3 Debt of
domestic
M2 plus large nonfinancial
time deposits, sectors
RPs, Euro-dollars, (monthly
and average of
institutional adjacent
MMMF month-end
Period balances levels)(1)
1991: Dec 4,202.3 11,299.5
1992: Dec 4,213.0 11,823.7
1993: Dec 4,275.1 12,407.6
1994: Dec 4,357.3 12,988.4
1995: Dec 4,622.5 13,694.9
1996: Dec 4,968.5 (r)14,430.7
1997: Dec 5,427.8 15,223.1
1998: Dec 6,027.3 (r)16,277.9
1999: Dec 6,526.8 (r)17,379.4
2000: Dec(r) 7,098.4 18,303.3
2000: Mar 6,672.6 (r)17,619.6
Apr 6,724.1 (r)17,719.1
May 6,756.4 (r)17,796.4
June 6,806.8 (r)17,878.6
July 6,855.3 (r)17,944.6
Aug 6,913.6 (r)18,005.5
Sept 6,965.5 (r)18,082.5
Oct 6,988.4 (r)18,133.6
Nov 7,015.1 (r)18,214.4
Dec(r) 7,098.4 18,303.0
2001: Jan(r) 7,193.2 18,360.1
Feb(r) 7,252.0 (p)18,447.9
Mar 7,315.2 ...
[Averages of daily figures, except debt; billions of dollars,
seasonally adjusted]
Percent change from year or 6
months earlier(2)
Period M1 M2 M3 Debt
1991: Dec 8.7 3.0 1.3 4.4
1992: Dec 14.3 1.6 .3 4.6
1993: Dec 10.3 1.6 1.5 4.9
1994: Dec 1.8 .4 1.9 4.7
1995: Dec -2.1 4.1 6.1 5.4
1996: Dec -4.1 4.7 7.5 5.4
1997: Dec -.7 5.7 9.2 5.5
1998: Dec 2.2 8.8 11.0 6.9
1999: Dec 2.5 6.1 8.3 6.8
2000: Dec(r) -3.0 6.3 8.8 5.3
2000: Mar 3.6 6.1 11.7 5.8
Apr 3.8 6.8 11.5 5.9
May -.1 6.0 9.7 6.0
June -3.3 5.7 8.6 5.7
July -3.4 5.7 8.7 5.6
Aug -1.6 6.3 9.5 (r)5.6
Sept -3.1 6.3 8.8 5.3
Oct -3.8 5.6 7.9 4.7
Nov -3.3 6.0 7.7 (r)4.7
Dec(r) -2.8 6.7 8.6 4.8
2001: Jan(r) -.5 7.9 9.9 4.6
Feb(r) .3 8.5 9.8 4.9
Mar 2.8 9.6 10.0 ...
(1) Consists of outstanding credit market debt of the U.S. Government,
State and local governments, and private nonfinancial sectors; data
derived from flow of funds accounts.
(2) Annual changes are from December to December and monthly changes
are from 6 months earlier at a simple annual rate.
NOTE.--See p. 27 for components.
Source: Board of Governors of the Federal Reserve System.
COMPONENTS OF MONEY STOCK
[Averages of daily figures; billions of dollars,
seasonally adjusted]
Other
Nonbank checkable
travelers Demand deposits
Period Currency checks deposits (OCDs)
1991: Dec 267.1 7.1 289.4 332.3
1992: Dec 292.2 7.6 339.9 384.4
1993: Dec 321.6 7.5 385.5 414.7
1994: Dec 354.0 8.0 383.7 404.1
1995: Dec 372.0 8.5 389.2 356.5
1996: Dec 393.9 8.3 402.3 276.0
1997: Dec 424.3 8.1 395.4 245.7
1998: Dec 459.2 8.2 379.4 250.1
1999: Dec 516.7 8.2 355.6 243.7
2000: Dec 530.1 8.0 313.2 239.0
2000: Mar 516.0 8.2 344.4 244.6
Apr 516.7 8.1 343.5 249.0
May 518.7 8.3 336.6 243.1
June 520.9 8.8 333.8 242.1
July 522.4 9.3 332.3 239.9
Aug 523.5 9.3 326.5 240.4
Sept 524.7 8.9 323.6 238.6
Oct 526.3 8.4 322.0 239.4
Nov 527.7 8.0 314.8 238.0
Dec 530.1 8.0 313.2 239.0
2001: Jan(r) 534.5 8.1 317.0 241.7
Feb(r) 537.3 8.0 314.8 241.1
Mar 539.1 7.9 315.5 248.5
Savings
deposits,
including
money
market Small Money market mutual
deposit denomination fund balances
accounts time
Period (MMDAs) deposits(1) Retail Institutional
1991: Dec 1,043.8 1,065.6 371.3 187.3
1992: Dec 1,186.5 868.1 352.0 210.8
1993: Dec 1,219.3 782.0 353.7 213.2
1994: Dec 1,149.8 816.3 382.8 205.4
1995: Dec 1,134.1 931.5 450.0 258.9
1996: Dec 1,271.0 947.0 515.8 317.6
1997: Dec 1,397.9 968.4 590.6 390.0
1998: Dec 1,599.9 952.2 734.3 530.4
1999: Dec 1,736.2 956.1 833.4 622.4
2000: Dec (r)1,872.1 1,046.2 934.8 767.4
2000: Mar 1,757.2 977.3 869.6 656.2
Apr 1,766.7 985.7 885.0 660.9
May 1,774.4 992.6 888.0 672.0
June 1,783.0 1,003.9 890.6 682.7
July 1,797.1 1,012.6 889.6 704.7
Aug 1,816.8 1,021.8 895.2 720.4
Sept 1,838.7 1,027.2 903.7 737.4
Oct 1,845.8 1,037.1 913.0 743.8
Nov 1,856.5 1,039.2 920.0 751.8
Dec (r)1,872.1 1,046.2 934.8 767.4
2001: Jan(r) 1,888.3 1,053.3 951.1 801.0
Feb(r) 1,927.2 1,051.9 958.0 859.0
Mar 1,962.5 1,048.4 977.1 888.0
Overnight
and term
Large repurchase Overnight
denomination agreements and term
time (RPs) Euro-dollars
Period deposits(1) (net) (net)
1991: Dec 415.0 131.1 92.3
1992: Dec 350.4 141.6 79.5
1993: Dec 332.2 172.6 72.8
1994: Dec 370.6 196.3 86.2
1995: Dec 429.6 198.4 93.8
1996: Dec 512.0 210.4 114.2
1997: Dec 603.1 254.3 150.0
1998: Dec 664.1 297.5 151.8
1999: Dec 739.9 341.2 173.3
2000: Dec 830.0 360.5 197.1
2000: Mar 758.2 349.3 191.7
Apr 773.5 347.9 187.1
May 776.1 355.8 190.8
June 787.7 362.7 190.6
July 795.9 364.2 187.2
Aug 808.9 361.3 189.6
Sept 808.1 362.2 192.5
Oct (r)804.5 361.2 191.9
Nov 807.6 356.8 194.9
Dec 830.0 360.5 197.1
2001: Jan(r) 846.3 357.3 194.7
Feb(r) 812.4 348.3 194.1
Mar 788.9 342.3 197.0
(1) Small denomination and large denomination deposits are those
issued in amounts of less than $100,000 and more than $100,000,
respectively.
Source: Board of Governors of the Federal Reserve System.
AGGREGATE RESERVES AND MONETARY BASE
[Averages of daily figures 1 millions of dollars; seasonally
adjusted, except as noted by NSA]
Adjusted for changes in reserve requirements
Reserves of depository institutions
Nonborrowed
plus
extended
Period Total Nonborrowed credit Required
1991: Dec 45,493 45,301 45,302 44,504
1992: Dec 54,391 54,267 54,268 53,237
1993: Dec 60,532 60,450 60,450 59,463
1994: Dec 59,420 59,211 59,211 58,261
1995: Dec 56,452 56,195 56,195 55,162
1996: Dec 50,154 49,999 49,999 48,738
1997: Dec 46,848 46,524 46,524 45,164
1998: Dec 45,183 45,066 45,066 43,669
1999: Dec 41,778 41,457 41,457 40,480
2000: Dec 38,507 38,297 38,297 37,182
2000: Apr 40,783 40,479 40,479 39,626
May 41,003 40,641 40,641 40,031
June 39,882 39,403 39,403 38,766
July 40,124 39,555 39,555 38,981
Aug 39,643 39,064 39,064 38,639
Sept 39,386 38,908 38,908 38,267
Oct 39,021 38,602 38,602 37,874
Nov 39,023 38,739 38,739 37,821
Dec 38,507 38,297 38,297 37,182
2001: Jan 38,827 38,754 38,754 37,574
Feb 38,867 (r)38,815 (r)38,815 37,434
Mar(r) 38,261 38,203 38,203 36,875
Apr(p) 38,800 38,749 38,749 37,528
Adjusted
for Borrowings of depository
changes institutions from the
in reserve Federal Reserve
requirements (NSA)
Monetary Extended
Period base Total Seasonal credit
1991: Dec 317,549 192 38 1
1992: Dec 350,840 124 18 1
1993: Dec 386,510 82 31 0
1994: Dec 418,166 209 100 0
1995: Dec 434,307 257 40 0
1996: Dec 451,712 155 68 0
1997: Dec 479,466 324 79 0
1998: Dec 513,489 117 15 0
1999: Dec 593,094 320 67 0
2000: Dec 583,968 210 111 0
2000: Apr 572,495 304 120 0
May 574,144 362 276 0
June 575,307 479 389 0
July 576,957 570 510 0
Aug 577,531 579 554 0
Sept 578,336 477 427 0
Oct 579,698 418 299 0
Nov 581,398 283 159 0
Dec 583,968 210 111 0
2001: Jan 589,397 73 34 0
Feb (r)591,033 51 21 0
Mar(r) 592,229 58 20 0
Apr(p) 596,349 51 35 0
(1) Data are prorated averages of biweekly (maintenance period)
averages of daily figures.
Source: Board of Governors of the Federal Reserve System.
BANK CREDIT AT ALL COMMERCIAL BANKS
Total commercial bank loans and leases rose 0.4 percent in March;
commercial and industrial loans fell 0.1 percent.
[GRAPH OMITTED]
[Billions of dollars, seasonally adjusted(1)]
Securities in bank credit
U.S.
Treasury
Total and
bank Total agency Other
Period credit securities securities securities
1991: Dec 2,856.4 746.7 566.7 180.1
1992: Dec 2,954.8 842.7 666.0 176.8
1993: Dec 3,112.8 916.8 732.2 184.6
1994: Dec 3,318.6 941.4 723.6 217.8
1995: Dec 3,601.5 985.5 703.1 282.4
1996: Dec 3,757.4 979.0 699.8 279.2
1997: Dec 4,098.7 1,086.6 748.8 337.7
1998: Dec 4,537.4 1,227.6 793.2 434.4
1999: Dec 4,774.7 1,277.2 810.0 467.3
2000: Dec(r) 5,216.2 1,335.2 788.8 546.4
2000: Mar 4,887.9 1,279.0 815.2 463.8
Apr 4,941.7 1,294.0 816.8 477.3
May 5,005.9 1,311.8 819.1 492.6
June 5,031.9 1,303.8 817.6 486.3
July(r) 5,069.3 1,310.0 817.0 493.0
Aug(r) 5,107.5 1,316.5 810.6 505.9
Sept(r) 5,159.5 1,332.4 804.7 527.7
Oct(r) 5,147.5 1,316.8 794.4 522.4
Nov(r) 5,166.5 1,311.4 786.0 525.3
Dec(r) 5,216.2 1,335.2 788.8 546.4
2001: Jan(r) 5,266.5 1,356.5 786.9 569.5
Feb(r) 5,280.4 1,351.2 777.5 573.7
Mar 5,288.5 1,344.6 758.2 586.4
Loans and leases in bank
credit
Commercial
Total loans and
Period and leases(2) industrial
1991: Dec 2,109.7 623.2
1992: Dec 2,112.0 599.4
1993: Dec 2,196.1 589.7
1994: Dec 2,377.2 649.7
1995: Dec 2,616.0 723.8
1996: Dec 2,778.4 787.4
1997: Dec 3,012.1 855.4
1998: Dec 3,309.8 949.5
1999: Dec 3,497.4 1,003.0
2000: Dec(r) 3,880.9 1,094.4
2000: Mar 3,608.9 1,033.2
Apr 3,647.6 1,040.4
May 3,694.1 1,059.0
June 3,728.1 1,064.8
July(r) 3,759.3 1,070.0
Aug(r) 3,791.0 1,077.7
Sept(r) 3,827.1 1,080.4
Oct(r) 3,830.7 1,082.8
Nov(r) 3,855.1 1,087.0
Dec(r) 3,880.9 1,094.4
2001: Jan(r) 3,910.0 1,109.8
Feb(r) 3,929.1 1,118.5
Mar 3,943.9 1,117.9
Loans and leases in bank
credit
Real estate
Revolving
home
Period Total equity Other
1991: Dec 884.1 74.3 809.8
1992: Dec 906.3 78.4 827.9
1993: Dec 947.7 78.0 869.7
1994: Dec 1,010.9 80.4 930.5
1995: Dec 1,089.6 84.4 1,005.3
1996: Dec 1,141.5 90.6 1,050.9
1997: Dec 1,247.0 104.7 1,142.3
1998: Dec 1,337.8 103.8 1,234.0
1999: Dec 1,475.6 101.5 1,374.2
2000: Dec(r) 1,658.0 129.4 1,528.6
2000: Mar 1,533.8 108.8 1,425.0
Apr 1,555.1 112.5 1,442.6
May 1,577.0 114.2 1,462.7
June 1,595.3 115.4 1,479.9
July(r) 1,611.9 119.0 1,492.9
Aug(r) 1,623.5 119.9 1,503.6
Sept(r) 1,635.4 121.7 1,513.7
Oct(r) 1,638.4 125.0 1,513.4
Nov(r) 1,651.3 127.1 1,524.2
Dec(r) 1,658.0 129.4 1,528.6
2001: Jan(r) 1,661.1 131.2 1,529.9
Feb(r) 1,671.4 132.3 1,539.1
Mar 1,679.0 133.8 1,545.2
Loans and leases in bank
credit
Period Consumer Security Other
1991: Dec 363.6 53.7 185.2
1992: Dec 355.9 63.0 187.4
1993: Dec 387.2 86.2 185.2
1994: Dec 447.5 75.6 193.5
1995: Dec 490.7 83.0 228.9
1996: Dec 512.0 75.1 262.3
1997: Dec 501.8 93.9 313.9
1998: Dec 496.8 143.8 382.0
1999: Dec 490.9 147.4 380.6
2000: Dec(r) 537.0 168.8 422.8
2000: Mar 504.7 143.4 393.8
Apr 507.9 147.4 396.9
May 510.5 148.7 398.9
June 516.8 153.0 398.1
July(r) 519.4 154.1 403.8
Aug(r) 527.5 153.5 408.8
Sept(r) 531.5 168.5 411.3
Oct(r) 530.1 164.1 415.4
Nov(r) 533.9 165.1 417.8
Dec(r) 537.0 168.8 422.8
2001: Jan(r) 540.8 170.3 427.9
Feb(r) 540.3 169.1 429.9
Mar 538.3 173.9 434.9
(1) Data are prorated averages of Wednesday values for domestically
chartered commercial banks, branches and agencies of foreign banks,
New York State investment companies (through September 1996), and
Edge Act and agreement corporations. Data are adjusted for breaks
caused by reclassifications of assets and liabilities.
(2) Excludes Federal funds sold to, reverse repurchase agreements
(RPs) with, and loans to commercial banks in the United States.
Source: Board of Governors of the Federal Reserve System.
SOURCE AND USES OF FUNDS, NONFARM NONFINANCIAL CORPORATE
BUSINESS
[Billions of dollars; quarterly data at seasonally adjusted
annual rate]
Sources
External
Funds raised in
markets
Total
net Net new
funds equity
Period Total Internal(1) Total raised issues
1991 514.6 447.5 67.1 -34.6 18.3
1992 626.7 465.4 161.3 66.6 27.0
1993 728.6 510.7 217.9 61.5 21.3
1994 808.2 566.6 241.6 78.7 -44.9
1995 1,010.7 619.9 390.8 169.2 -58.3
1996 1,074.5 676.0 398.5 79.6 -69.5
1997 1,011.1 727.6 283.5 152.0 -114.4
1998 1,218.0 746.5 471.5 151.1 -267.0
1999 1,640.2 804.5 835.7 338.1 -143.5
2000(p) 1.567.4 886.6 680.8 293.7 -153.1
1998: I 1,421.2 739.1 682.1 288.4 -139.2
II 1,131.0 738.2 392.8 351.7 -129.1
III 1,261.8 751.3 510.5 51.1 -308.4
IV 1,057.8 757.4 300.4 -86.7 -491.3
1999: I 1,673.1 791.8 881.3 574.0 -52.1
II 1,676.4 796.0 880.4 34.4 -338.4
III 1,635.4 802.3 833.1 345.4 -128.4
IV 1.576.0 827.9 748.1 398.6 -55.0
2000: I 1,565.1 862.9 702.2 544.1 62.8
II 1,657.9 898.8 259.1 343.6 -248.8
III 1,653.9 914.5 739.4 233.5 -75.6
IV(p) 1,392.5 870.1 522.4 53.7 -350.8
Sources
External
Funds raised in market
Credit market instruments
Loans
Securities and
and short-term
Period Total mortgages paper Other(2)
1991 -52.9 64.1 -117.0 101.7
1992 39.6 49.5 -9.9 94.7
1993 40.2 65.2 -25.0 156.4
1994 123.6 32.8 90.8 162.9
1995 227.5 110.3 117.2 221.7
1996 149.1 92.1 57.0 318.9
1997 266.5 132.9 133.6 131.4
1998 418.1 265.5 152.6 320.3
1999 481.6 323.0 158.6 497.6
2000(p) 446.8 248.8 198.0 387.0
1998: I 427.6 318.2 109.4 393.6
II 480.8 332.0 148.8 41.1
III 359.4 130.1 229.3 459.5
IV 404.5 282.0 122.5 387.1
1999: I 626.1 367.1 259.0 307.3
II 372.8 377.9 -5.1 846.0
III 473.8 287.2 186.6 487.7
IV 453.6 259.8 193.8 349.4
2000: I 481.3 253.7 227.6 158.1
II 592.4 235.3 357.1 415.4
III 309.1 256.6 52.5 505.8
IV(p) 404.5 249.3 155.2 468.7
Uses
Increase Discrepancy
in (sources
Capital financial less
Period Total expenditures(3) assets uses)
1991 526.4 444.1 82.3 -11.7
1992 616.2 471.1 145.1 10.5
1993 857.5 524.9 332.6 -128.9
1994 868.1 593.3 274.8 -59.9
1995 1,090.0 666.4 423.6 -79.2
1996 1,088.0 684.7 403.3 -13.6
1997 933.9 783.6 150.3 77.1
1998 1,194.2 847.1 347.1 23.8
1999 1,598.4 907.0 691.4 41.8
2000(p) 1,534.6 1,021.1 513.5 32.8
1998: I 1,391.3 831.3 560.0 29.9
II 1,126.6 829.8 296.8 4.4
III 1,249.5 860.6 388.9 12.4
IV 1,009.4 866.6 142.8 48.3
1999: I 1,626.2 873.0 753.2 46.9
II 1,609.5 886.8 722.7 66.8
III 1,612.1 912.0 700.1 23.3
IV 1,545.8 956.3 589.5 30.1
2000: I 1,533.7 966.6 567.1 31.4
II 1,618.9 1,024.8 594.1 39.0
III 1,623.8 1,056.3 567.5 30.1
IV(p) 1,362.1 1,036.6 325.5 30.5
(1) Profits before tax (book) less profit tax accruals and dividends
plus consumption of fixed capital, foreign earnings retained abroad,
and inventory valuation adjustment.
(2) Includes tax liabilities, trade, debt, pension fund liabilities,
and direct foreign investment in the U.S.
(3) Plant and equipment, residential structures, inventory investment,
and access rights from U.S. Government.
Source: Board of Governors of the Federal Reserve System.
CONSUMER CREDIT
[Billions of dollars; seasonally adjusted]
Consumer credit outstanding (end of period)
Period Total Revolving Non-revolving(2)
1991: Dec 777.1 263.8 513.3
1992: Dec 782.2 278.4 503.7
1993: Dec 838.8 309.9 528.8
1994: Dec 960.4 365.6 594.9
1995: Dec 1,095.8 443.1 652.7
1996: Dec 1,182.6 499.4 683.1
1997: Dec 1,234.5 531.2 703.3
1998: Dec 1,301.0 560.5 740.5
1999: Dec 1,393.7 595.6 798.0
2000: Dec(r) 1,533.2 663.8 869.3
2000: Mar 1,429.2 615.5 813.7
Apr 1,435.6 622.2 813.4
May 1,447.4 628.8 818.6
June 1,462.8 634.7 828.2
July(r) 1,470.7 638.5 832.2
Aug(r) 1,484.0 645.4 838.6
Sept(r) 1,492.6 649.5 843.1
Oct(r) 1,510.0 654.9 855.1
Nov(r) 1,526.2 661.0 865.2
Dec(r) 1,533.2 663.8 869.3
2001: Jan(r) 1,549.1 670.3 878.9
Feb(r) 1,562.5 681.2 881.3
Mar(p) 1,568.6 687.8 880.8
Net change in consumer credit outstanding(1)
Period Total Revolving Non-revolving(2)
1991: Dec -12.0 25.2 -37.2
1992: Dec 5.1 14.6 -9.6
1993: Dec 56.6 31.5 25.1
1994: Dec 121.6 55.7 66.1
1995: Dec 135.4 77.5 57.8
1996: Dec 86.8 56.3 30.4
1997: Dec 51.9 31.8 20.2
1998: Dec 66.5 29.3 37.2
1999: Dec 92.7 35.1 57.5
2000: Dec(r) 139.5 68.2 71.3
2000: Mar 10.7 7.0 3.7
Apr 6.4 6.7 -.3
May 11.8 6.6 5.2
June 15.4 5.9 9.6
July(r) 7.9 3.8 4.0
Aug(r) 13.3 6.9 6.4
Sept(r) 8.6 4.1 4.5
Oct(r) 17.4 5.4 12.0
Nov(r) 16.2 6.1 10.1
Dec(r) 7.0 2.8 4.1
2001: Jan(r) 15.9 6.5 9.6
Feb(r) 13.4 10.9 2.4
Mar(p) 6.1 6.6 -.5
(1) Change based on data in billions of dollar as shown here.
For year-end data, change from preceding year-end; for monthly data,
change from preceding month.
(2) Includes automobile loans and all other loans not included in
revolving credit, such as loans for mobile homes, education, boats,
trailers, or vacations. These loans may be secured or unsecured.
Source: Board of Governors of the Federal Reserve System.
INTEREST RATES AND BOND YIELDS
Short-term interest rates fell in April, while long-term rates rose.
[GRAPH OMITTED]
[Percent per annum]
U.S. Treasury security yields
3-month Constant maturities(2)
bills (new
Period issues)(1) 3-year 10-year 30-year
1991 5.42 6.82 7.86 8.14
1992 3.45 5.30 7.01 7.67
1993 3.02 4.44 5.87 6.59
1994 4.29 6.27 7.09 7.37
1995 5.51 6.25 6.57 6.88
1996 5.02 5.99 6.44 6.71
1997 5.07 6.10 6.35 6.61
1998 4.81 5.14 5.26 5.58
1999 4.66 5.49 5.65 5.87
2000 5.85 6.22 6.03 5.94
2000: Apr 5.67 6.36 5.99 5.85
May 5.92 6.77 6.44 6.15
June 5.74 6.43 6.10 5.93
July 5.93 6.28 6.05 5.85
Aug 6.11 6.17 5.83 5.72
Sept 6.00 6.02 5.80 5.83
Oct 6.10 5.85 5.74 5.80
Nov 6.19 5.79 5.72 5.78
Dec 5.83 5.26 5.24 5.49
2001: Jan 5.27 4.77 5.16 5.54
Feb 4.93 4.71 5.10 5.45
Mar 4.50 4.43 4.89 5.34
Apr 3.92 4.42 5.14 5.65
Week ended:
2001: Apr 14 3.82 4.41 5.08 5.59
21 4.05 4.53 5.24 5.71
28 3.66 4.43 5.25 5.76
May 5 3.89 4.49 5.28 5.71
High grade
municipal Corporate Prime
bonds Aaa commercial
(Standard & bonds paper, 6
Period Poor's)(3) (Moody's) months(1)
1991 6.89 8.77 5.85
1992 6.41 8.14 3.80
1993 5.63 7.22 3.30
1994 6.19 7.96 4.93
1995 5.95 7.59 5.93
1996 5.75 7.37 5.42
1997 5.55 7.26 5.62
1998 5.12 6.53 (*)
1999 5.43 7.04 (*)
2000 5.77 7.62 (*)
2000: Apr 5.76 7.64 (*)
May 6.04 7.99 (*)
June 5.84 7.67 (*)
July 5.72 7.65 (*)
Aug 5.63 7.55 (*)
Sept 5.64 7.62 (*)
Oct 5.65 7.55 (*)
Nov 5.60 7.45 (*)
Dec 5.30 7.21 (*)
2001: Jan 5.15 7.15 (*)
Feb 5.21 7.10 (*)
Mar 5.19 6.98 (*)
Apr 5.33 7.20 (*)
Week ended:
2001: Apr 14 5.30 7.18 (*)
21 5.39 7.27 (*)
28 5.39 7.26 (*)
May 5 5.38 7.21 (*)
New-home
Discount Prime rate Federal mortgage
rate (N.Y. charged by funds yields
Period F.R. Bank)(4) banks(4) rate(5) (FHFB)(6)
1991 5.45 8.46 5.69 9.32
1992 3.25 6.25 3.52 8.24
1993 3.00 6.00 3.02 7.20
1994 3.60 7.15 4.21 7.49
1995 5.21 8.83 5.83 7.87
1996 5.02 8.27 5.30 7.80
1997 5.00 8.44 5.46 7.71
1998 4.92 8.35 5.35 7.07
1999 4.62 8.00 4.97 7.04
2000 5.73 9.23 6.24 7.52
2000: Apr 5.50-5.50 9.00-9.00 6.02 7.63
May 5.50-6.00 9.00-9.50 6.27 7.55
June 6.00-6.00 9.50-9.50 6.53 7.50
July 6.00-6.00 9.50-9.50 6.54 7.51
Aug 6.00-6.00 9.50-9.50 6.50 7.54
Sept 6.00-6.00 9.50-9.50 6.52 7.52
Oct 6.00-6.00 9.50-9.50 6.51 7.53
Nov 6.00-6.00 9.50-9.50 6.51 7.47
Dec 6.00-6.00 9.50-9.50 6.40 7.40
2001: Jan 6.00-5.00 9.50-9.00 5.98 7.20
Feb 5.00-5.00 8.50-8.50 5.49 7.10
Mar 5.00-4.50 8.50-8.00 5.31 7.04
Apr 4.50-4.00 8.00-7.50 4.80 ...
Week ended:
2001: Apr 14 4.50-4.50 8.00-8.00 4.96 ...
21 4.50-4.00 8.00-7.50 4.98 ...
28 4.00-4.00 7.50-7.50 4.42 ...
May 5 4.00-4.00 7.50-7.50 4.53 ...
(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
II. 15 Selected Interest Rates, May 12, 1997.
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.
COMMON STOCK PRICES AND YIELDS
Overall, stock prices rose in April.
[GRAPH OMITTED]
Common stock prices(1)
New York Stock Exchange indexes
(Dec. 31, 1965=50,
except as noted)(2)
Period Composite Industrial Transportation
1991 206.33 258.14 173.99
1992 229.01 284.62 201.09
1993 249.58 299.99 242.49
1994 254.12 315.25 247.29
1995 291.15 367.34 269.41
1996 358.17 453.98 327.33
1997 456.54 574.52 414.60
1998 550.26 681.57 468.69
1999 619.16 774.78 491.60
2000 643.66 810.63 413.60
2000: Apr 646.82 822.76 406.14
May 640.07 814.75 411.50
June 649.61 819.54 395.09
July 653.27 825.28 410.67
Aug 666.14 837.23 419.84
Sept 667.05 829.99 404.23
Oct 646.53 803.88 401.37
Nov 646.64 800.88 434.92
Dec 645.44 792.66 439.97
2001: Jan 650.55 796.74 471.21
Feb 648.05 799.38 482.26
Mar 603.44 744.21 452.36
Apr 607.06 747.48 455.22
Week ended:
2001: Apr 14 596.07 733.23 452.90
21 617.86 761.42 462.73
28 624.65 771.85 457.55
May 5 637.43 788.13 464.58
Common stock prices(1)
New York Stock
Exchange indexes
(Dec. 31, 1965=50,
except as noted)(2)
Dow Jones
industrial
Period Utility(3) Finance average(4)
1991 185.32 150.82 2,929.33
1992 198.91 179.26 3,284.29
1993 228.90 216.42 3,522.06
1994 209.06 209.73 3,793.77
1995 220.30 238.45 4,493.76
1996 249.77 303.89 5,742.89
1997 283.82 424.48 7,441.15
1998 378.12 516.35 8,625.52
1999 473.73 530.86 10,464.88
2000 477.65 553.13 10,734.90
2000: Apr 502.78 524.05 10,944.31
May 487.17 523.22 10,580.27
June 501.93 544.51 10,582.93
July 484.19 556.32 10,662.95
Aug 459.91 597.17 11,014.51
Sept 464.66 616.89 10,967.87
Oct 453.68 596.53 10,440.96
Nov 455.66 600.45 10,666.06
Dec 444.16 621.62 10,652.41
2001: Jan 440.36 634.17 10,682.74
Feb 424.53 626.41 10,774.57
Mar 395.34 583.38 10,081.32
Apr 400.49 587.88 10,234.52
Week ended:
2001: Apr 14 394.01 577.98 10,022.08
21 406.08 597.93 10,452.94
28 412.24 598.85 10,622.83
May 5 419.87 610.72 10,851.58
Common stock prices(1)
Standard &
Poor's Nasdaq
composite composite
index (1941-43 index (Feb. 5,
Period = 10)(5) 1971 = 100)(6)
1991 376.18 491.69
1992 415.74 599.26
1993 451.41 715.16
1994 460.42 751.65
1995 541.72 925.19
1996 670.50 1,164.96
1997 873.43 1,469.49
1998 1,085.50 1,794.91
1999 1,327.33 2,728.15
2000 1,427.22 3,783.67
2000: Apr 1,461.36 3,863.64
May 1,418.48 3,528.42
June 1,461.96 3,865.48
July 1,473.00 4,017.69
Aug 1,485.46 3,909.60
Sept 1,468.05 3,875.82
Oct 1,390.14 3,333.82
Nov 1,375.04 3,055.42
Dec 1,330.93 2,657.81
2001: Jan 1,335.63 2,656.86
Feb 1,305.75 2,449.57
Mar 1,185.85 1,986.66
Apr 1,189.84 1,933.93
Week ended:
2001: Apr 14 1,163.84 1,864.53
21 1,221.27 2,051.56
28 1,230.03 2,049.26
May 5 1,259.70 2,168.56
Common stock yields
(percent)(7)
Dividend-price Earnings-price
Period ratio ratio
1991 3.24 4.79
1992 2.99 4.22
1993 2.78 4.46
1994 2.82 5.83
1995 2.56 6.09
1996 2.19 5.24
1997 1.77 4.57
1998 1.49 3.46
1999 1.25 3.17
2000 1.15 (r)3.63
2000: Apr 1.14 ...
May 1.17 ...
June 1.12 3.57
July 1.10 ...
Aug 1.09 ...
Sept 1.10 3.74
Oct 1.15 ...
Nov 1.16 ...
Dec 1.19 (r)3.79
2001: Jan 1.16 ...
Feb 1.22 ...
Mar 1.33 ...
Apr 1.32 ...
Week ended:
2001: Apr 14 1.33 ...
21 1.26 ...
28 1.27 ...
May 5 1.23 ...
(1) Average of daily closing prices.
(2) Includes all the stocks (more than 3,500)
listed on the NYSE.
(3) Dec. 31, 1965=100. Effective April 27, 1993
the NYSE doubled the value of the utility index
to facilitate trading of options and futures on
the index. All indexes shown here reflect the
doubling.
(4) Includes 30 stocks.
(5) Includes 500 stocks.
(6) Includes over 5,000 stocks.
(7) Standard & Poor's series. Dividend-price ratios
based on Wednesday closing prices. Earnings-price
ratios based on prices at end of quarter.
Sources: New York Stock Exchange, Dow Jones & Company,
Inc., Standard & Poor's, and the National Association
of Securities Dealers, Inc.
COPYRIGHT 2001 Superintendent Of Documents
COPYRIGHT 2001 Gale Group
Most Recent News Articles
- ARAB EUROPEAN RELATIONS - Dec 22 - Russia Denies Selling Missile System To Iran
- EGYPT - Dec 29 - Opposition Says Mubarak Blessed Israeli Attacks
- ARAB AFFAIRS - Dec 22 - Syria Will Eventually Move To Direct Talks With Israel
- ARAB AFFAIRS - Dec 30 - GCC Denounces Massacre
- ARAB ISRAELI RELATIONS - Israel Issues An Appeal To Palestinians In Gaza
Most Recent News Publications
Most Popular News Articles
- How Florida ended up landing Urban Meyer
- Michael Jackson: crowned in Africa, pop music king tells real story of controversial trip - includes related interview - Cover Story
- Jordie's shocking secret diary of sex abuse by Michael Jackson
- Michael Jackson gives first live interview to Oprah Winfrey - Cover Story
- 9 questions to ask your new lover: what you were afraid to ask, but always wanted to know
Most Popular News Publications
Content provided in partnership with
Sponsored by Merrill Lynch