Bond Yields and Interest Rates - St. Louis FedTABLE C-28. Bond yields and interest rates, selected...

TABLE C-28.—Bond yields and interest rates, selected years, 1929-49

[Percent per annum]

Period 9-12monthcertifi-cates of

indebted-ness

U. S. Government securityyields

Long-term bonds

Partiallytax-

exempt 215 years

and over,taxable

High grade cor-porate bond

yields(Moody's)

Aaabonds

Baabonds

Bankrates onshort-term

businessloans

(3)(3)(3)00

2.1

2.02.6

2.22.12.12.5

(3)

2.42.472.602.64

2.702.742.63

(3)

Bankersaccept-ances 90days-NewYork

5.03.63.13.43.44

.44

.44

.44

.61

.871.111.13

1.061.061.131.19

1.191.191.061.06

FederalEeserveBank

discountrate-NewYork

1929 average1933 average1935 average1937 average1939 average

1941 average1943 average

1945 average1946 average1947 average1948 average. . . _1949 average 8

1948—First quarterSecond quarter. _Third quarter. __Fourth quarter. .

1949—First quarterSecond quarter. _Third quarter. _.Fourth quarter«_

(0(l)0)0)0)

(00.75

.81

.82

.881.141.14

1.091.091.141.22

1.221.201.061.10

3.603.312.792.742.41

2.051.W8

1.66C5)(5)

2.47

2.372.192.252.442.31

2.452.422.452.44

2.402.382.242.20

4.734.493.603.263.01

2.772.73

2.622.532.612.822.67

2.852.772.832.82

2.712.702.632.60

5.907.765. 755.034.96

4.333.91

3.293.053.243.473.42

3.533.403.423.52

3.463.453.413.35

5.162.561.501.291.00

1.004 1.00

TABLE B-28.—Bond yields and interest rates, selected years> 1929-50

[Percent per annum]

Period

1929 average1933 average _ _1935 average1937 average1939 average _

1941 average1943 average. .

1945 average1946 average. .1947 average1948 average _ -1949 average

1949— First quarterSecond quarterThird quarterFourth quarter

1950 — First quarterSecond quarter


9-12monthcertifi-cates of

indebted-ness

0)0)(0(00)

0)0.75

.81

.82

.88

.14

.14

.22

.20

.06

.09

1.1461.19

Long-term bonds

Partiallytax-

exempt 2

3.603.312.792.742.41

2.051.98

1.66(5)(5)(5)(5)

(5)(5)(5)(5)

(5)(5)

15 yearsand over,taxable

2.47

2.372.192.252.442.31

2.402.382.242.20

2.242.31


yields(Moody's)

Aaabonds

4.734.493.603.263.01

2.772.73

2.622.532.612.822.66

2.712.712.632.60

2.582.61

Baabonds

5.907.765.755.034.96

4.333.91

3.293.053.243.473.42

3.463.463.413.34

3.243.25


businessloans

(3)(3)(3)(3)2.1

2.02.6

2.22.12.12.52.7

2.702. 742.632.65

2.602.68


5.03.63.13.43.44

.44

.44

.44

.61

.871.111.12

1.191.191.061.06

1.061.06

FederalReserveBank


5.162.561.501.331.00

1.004 1.00

* 1.004 1. 00

.00

.34

.50

.50

.50

.501.50

1.501.50

1 Tax exempt prior to March 1,1941; taxable thereafter.2 Average of yields on all outstanding partially tax-exempt Government bonds due or callable after 12 years,

in 1929 and 1933; and after 15 years, from 1935.3 Not available.4 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances

secured by Government securities maturing in 1 year or less.No partially tax-exempt bonds due or callable in 15 years and over.

6 Beginning June 1,1950, series is based on three note issues maturing July 1,1951.

Sources: Treasury Department, Moody's Investors Service, and Board of Governors of the FederalReserve System.

142

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

Midyear Report 1950

TABLE A-31.—Bond yields and interest rates, selected years, 1929-50

[Percent per annum]

Period

1929 average1933 average1935 average _ _1937 average1939 average

1941 average1943 average _

1945 average _ _1946 average1947 average1948 average..1949 average

1950 average 6

1949— First quarter.Second quarterThird quarterFourth quarter

1950— First quarterSecond quarterThird quarterFourth quarter 6_—


9-12monthissues

(2)

88(2)0.75

.81

.82

.881.141.14

1.26

1.221.201.061.09

1.141.191.271.44

Long-term bonds

Partiallytax-

exempt *

3.603.312.792.742.41

2.051.98

1.66(5)(5)(8)«

(5)(5)(s)(•)(5)(6)8(8)

15 yearsand over,taxable

2.47

2.372.192.252.442.31

2.32

2.402.382.242.20

2.242.312.342.38


yields(Moody's)

Aaabonds

4.734.493.603.263.01

2.772.73

2.622.532.612.822.66

2.62

2.712.712.632.60

2.582.612.632.67

Baabonds

5.907.765.755.034.96

4.333.91

3.293.053.243.473.42

3.24

3.463.463.413.34

3.243.253.253.22


businessloans

(3)(3)(3)(5)

2.1

2.02.6

2.22.12.12.52.7

(3)

2.702.742.632.65

2.602.682.63

(3)


5.03.63.13.43.44

.44

.44

.44

.61

.871.111.12

1.15

1.191.191.061.06

1.061.061.181.31

FederalReserveBank


5.162.561.501.331.00

1.00*1.00

*1.00U.OO

1.001.341.50

1.59

1.501.501.501.50

1.501.501.611.75

1 Average of yields on all outstanding partially tax-exempt Government bonds due or callable after 12years, in 1929 and 1933; and after 15 years, from 1935.2 Not available before August 1942.3 Not available.

* From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advancessecured by Government securities maturing in 1 year or less.8 No partially tax-exempt bonds due or callable in 15 years and over.6 Estimates based on incomplete data.


201


January 1951

TABLE B-33.—Bond yields and interest rates, selected years, 1929-51

[Percent per annum]

Period

Average:19291933193519371939

19411943

1945194619471948 . ...1949

I960

1950 — First quarterSecond quarterThird quarterFourth quarter

1951 — First quarterSecond quarter

United States Governmentsecurity yields— New York

3-monthTreas-ury

bills i

(3)0.515.137.447.023

.103

.373

.375

.375

.5941.0401.102

1.218

1.118.166.233.353

.400

.532

9-12monthissues 2

(4)(4)(«)(«)(*)

(4)0.75

.81

.82

.881.141.14

1.26

1.141.191.271.44

1.671.84

Taxablebonds

15 yearsand over

(8)(5)0)

8(«)2.47

2.372.192.252.442.31

2.32

2.242.312.342.38

2.422.61

CorporateAaa

bonds(Moody's)

4.734.493.603.263.01

2.772.73

2.622.532.612.822.66

2.62

2.582.612.632.67

2.702.90

Averageof ratescharged

by bankson short-

termloans-selectedcities

(')(6)(6)(6)2.1

2.02.6

2.22.12.12.52.7

2.7

2.602.682.632.84

3.023.07

Primecommer-

cialpaper,

months-NewYork

5.851.73.76.94.59

.54

.69

.75

.811.031.441.48

1.45

1.311.311.471.71

1.962.20

Bankersaccept-ances.

90days-NewYork

5.03.63.13.43.44

.44

.44

.44

.61

.871.111.12

1.15

1.061.061.181.31

1.511.63

FederalReserveBank

discountrate —NewYork

5.162.561.501.331.00

1.00U.OO

n.oo'1.00

1.001.341.50

1.59

1.50.60.61.75

.75

.75

i Rate on new issues within period.3 Includes certificates of indebtedness, when outstanding in proper maturity range, and selected note and

bond issues.3 Treasury bills were first issued in December 1929.< Not available before August 1942.«Taxable bonds in this classification were first issued in March 1941.« Not available on same basis.7 From October 30,1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances

secured by Government securities maturing or callable hi one year or less.Sources: Treasury Department, Moody's Investors Service, and Board of Governors of the Federal

Reserve System.

257


Midyear Report 1951

TABLE B-30.—Bond yields and interest rales, 1929-52

[Percent per annum]

Period

1929

19301931193219331934

19351936 --193719381939

1940 ?_ .19411942.1943 _1944

19451946194719481949

1950 _ _ _ -1951

1951: First halfSecond half

1952: First half

1951: First quarterSecond quarter . -Third quarterFourth quarter. .

1952: First quarterSecond quarter..

U. S. Governmentsecurity yields

3-monthTreasury

bills i

(4)

(4)1.402.879.515.256

.137

.143

.447

.053

.023

.014

.103

.326

.373

.375

.375

.375

.5941.0401.102

1.2181.552

1.4661.638

1.659

1.4001.5321.6281.649

1.6401.678

9-12monthissues 2

(•)

(5)(5)(5)(5)(5)

(5)(5)(5)(5)(5)

(5)(5)(5)

.75

.79

.81

.82

.881.141.14

1.261.73

1.731.72

1.69

1.621.841.721.73

1.711.67

Taxablebonds 3

(6)

(6)(6)(6)(6)(6)

(8)(6)(6)(6)(6)

(6)(6)2.462.472.48

2.372.192.252.442.31

2.322.57

2.522.62

2.66

2.422.612.592.68

2.722.61

CorporateAaa

bonds(Moody's)

4.73

4.554.585.014.494.00

3.603.243.263.193.01

2.842.772.832.732.72

2.622.532.612.822.66

2.622.86

2.802.92

2.94

2.702.902.892.95

2.962.93

Average ofrates

charged bybanks on

short-termloans— se-

lected cities

(7)

(7)

8(7)(7)

(7)(7)(7)(7)

2.1

2.12.02.22.62.4

2.22.12.12.52.7

2.73.1

3.043.16

3.48

3.023.073.063.27

3.453.51

Primecom-

mercialpaper

4-6months

5.85

3.592.642.731.731.02

.76

.75

.94

.81

.59

.56

.54

.66

.69

.73

.75

.811.031. 441.48

1.452.17

2.082.26

2.35

1.962.202.252.26

2.382.32

Bankersaccep-tances,90 days

5.03

2.481.571.28.63.25

.13

.16

.43

.44

.44

.44

.44

.44

.44

.44

.44

.61

.871.111.12

1.151.60

1.571.64

1.75

1.511.631.631.65

1.751.75

FederalReserveBank

discountrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.00

81.008 1.008 1.00

81.0081.00

1.001.341.50

1.591.75

1.751.75

1.75

1.751.751.751.75

1.751.75

1 Rate on new issues within period. Issues were tax-exempt prior to March 1,1941, and fully taxable there -after. Series includes issues with maturities of more than 3 months in period, 1934-37.

2 Includes certificates of indebtedness and selected note and bond issues.315 years and over prior to April 1952; 12 years and over beginning in April 1952.* Treasury bills were first issued in December 1929 and were issued irregularly in 1930.' Not available before August 1942.6 Bonds in this classification were first issued in March 1941.7 Not available on same basis as for 1939 on.8 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances se-

cured by Government securities maturing or callable in 1 year or less.

NOTE.—Yields and rates computed for New York City, except for average of rates charged on short-termloans.


170


Midyear Report 1952

TABLE B-32.—Bond yields and interest rates, 1929-52

[Percent per annum]

Period

1929

19301931 -193219331934

1935, _ _1936193719381939

1940194119421943 .1944

19451946194719481949 _ . _ _

1950 .- -19511952 _




1950: First quarterSecond quarter. _Third quarterFourth quarter. _

1951: First quarterSecond quarter _ _Third quarterFourth quarter ._

1952: First quarterSecond quarter _ _Third quarterFourth quarter. _

U. S. Governmentsecurity yields

3-monthTreasury

bills i

(

TABLE G-42.—Bond yields and interest rates, 1929-53[Percent per annum]

Period

Number of issues.-- _

Average:1929

1930 .1931193219331934

19351936 -193719381939

19401941194219431944

19451946194719481949 ...

1950 ...19511952 .1953

1952* JanuaryFebruaryMarchAprilMay .June __JulyAugustSeptember. __October. _ _NovemberDecember

1953: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember...December

U. S. Government securities

3-monthTreas-ury

bills i

(•)

(6)1.402.879.515.256

.137

.143

.447

.053

.023

.014

.103

.326

.373

.375

.375

.375

.5941.0401.102

1.2181.5521.7661.931

1.6881.5741.6581.6231.7101.7001.8241.8761.7861.7831.8622.126

2.0422.0182.0822.1772.2002.2312.1012.0881.8761.4021.4271.630

9-12monthissues 2

(7)

(0

88(0(7)(7)(7)(7)

(7)(7)(7).75.79

.81

.82

.881.141.14

1.261.731.812.07

1.751.701.691.601.661.741.891.941.951.841.892.03

1.971.972.042.272.412.462.362.332.171.721.531.61

Long-termtaxable bonds'

Oldseries 4

3-7

(8)

(3)(3)

(3)(3)

8(3)

82.462.472.48

2.372.192.252.442.31

2.322.572.682.93

2.742.712.702.642.572.612.612.702.712.742.712.75

2.802. 832.892.973.093.092.993.002.972.832.852.79

Newseries 6

1

(«)

i88(8)(•)(5)

(«)(•)

Bond Yields and Interest Rates - St. Louis FedTABLE C-28. Bond yields and interest rates, selected...

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