TREASURY FINANCING REQUIREMENTS...Week Ending January 16, 1976 S 0 Jan Feb Mar Apr May Jun Jul 1975...

$Bil.

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTSJanuary-June, 1976^

_ Uses

Gov't Acc't'Investment

AdjustmentsTo Cash -**

r633/4"— V4JIncrease inOperatingCash

'Maturities

Off BudgetDeficit

Budget Deficit

Sources

* Special Issues

^_ *— Savings Bonds, Etc2% "~

YIVz

343/4 |Net New Cash

Refundings'

- Bills |[Done

"Coupons)

' To Be Done

* Includes $2 billion (net) CMB's and $1.5 billion 1/31/76 bills in 2-year cycle slot.±1 Assumes $9 billion June 30 cash balance.

Office of the Secretary of the TreasuryOffice of Debt Analysis

January 26, 197615

TREASURY FINANCING REQUIREMENTSJanuary - June, 1975

$Bil.

60

50

40

30

20

10

0

Uses

Increase in Operating Cash^ \i/AG.A Investment"* ^^m " ^

VAMaturities

15%

|3/* June Agency &Other33/4*May21/4*-Apr.!£44**Mar.

Off BudgetAgency Deficit

Budget Deficit

Otdce of the Secretary of the TreasuryOftice of Debt Analysis

Sources

2y4 ^ Adjustments to Casha-Special Issues

23/4

Savings Bonds, /Foreign, etc

Refunding'

New Cash'*

January 26.1976-18

ANNUAL RATES OF CHANGE, REAL AND NOMINAL GNP^Quarterly, Seasonally Adjusted

1972


1973 1974 1975-1/Shaded areas represent private forecasts.

1976

January 26,1976-9

$Bil.50

40

30

20

10

0

-10

TREASURY NET NEW MONEY BORROWINGFiscal Year Halves 1972 to Date

Coupons:

Over 7 years

3 • 7 years

Under 3 years

Bills

15.1

•1.1

.5

9.8

-1.2

j_

1972II I II I II

1973 1974 1975

* Less than $5Q million.

48.5

1976


January 26,1976-25

MARKET YIELDS ON GOVERNMENTS

1975


10 Years to Maturity

1976*

* Yield curves represent the 15th of each month.

Yield toMaturity

(PerCent)

January 26,1976-6

%

TREASURY YIELD CURVE SPREADSWeekly Averages

K /*•••<

\ /""-w--\//n / V*

v\

20 Year Less\*" 3 Month Bill^

3 Year Less3 Month BilU

20 Year Less 3 Year

V

Week EndingJanuary 16, 1976

S

0Jan Feb Mar Apr May Jun Jul

1975

Aug Sep Oct Nov Dec Jan

1976


y3 Month billon coupon equivalent basis.January 26, 1976-3

INTERMEDIATE AND LONG MARKET RATESMonthly Averages

J SNJMMJSNJMMJSNJMMJSN J1972 1973 1974 1975

Office of the Secretary of the TreasuryOffice of Oebt Analysis

January 26,1976-2

i i i i i

1972


SHORT TERM INTEREST RATESWeekly Averages

1973 1974

Calendar Years

1975

January 26,1976-11

$Bil.

30

20

10-

0$Bil.

30

20-

10-

MUNICIPAL AND CORPORATE BOND SALESCumulative

Munidpal

Corporate**1975^

* Public offerings, over1 yearto maturity.** Publicofferings, including foreign.

Source: Daily Bond Buyer.

Ollle*el Hwlamtani ol tin HrwwoiOWm of OvM AMlyfta

JmayaMWU

SHORT-TERM CREDIT DEMANDSWeekly Data

Business Loans ($Mil.) Commercial Paper ($Bil.)

130

125

120

115

110

105

100M


aA,/

M J1974

Business Loans

v^v/"-\

Commercial Paper Dealer (Ex Bank) + Non - Fin.

N J M M J

1975

N M M

1976

20

15

10

January 26, 1976-4

%9

8-

6-

5$Bil.

COVERAGE OF TREASURY COUPON ISSUESIN CALENDAR YEAR 1975

Average Yield

Coverage

S R

Accepted Tenders!Total Tenders

• i',vr

N

llllllll<OI>*2tVQlOrviO00C^

Gto>oioo*&0icn&OT

N 16 Is Ol N 00 N^ is. ^ r*. iv rv ooOi d o oi o> ci c*

is.iv0> 0* <J> 01 O) Ot

S CO 00 N Nrv 15- rv £• 00

rvIVo>

6? &e 6? B? 69 6?s? °° ^" £ £ s?iv tv. i** iv m

B? 6?„^^e^6e^Bee9&?69696e69&9&96969696?6969SS6969&96e

* °° N N p. OOtOCb^lvlvj^ooOOOOOOOO CO Is- rv 00 rs

January 26,1976-10Office of th« Secretary of the TreasuryOffice of Debt Analysis

COVERAGE OF 13 AND 26 WEEK BILLSIN CALENDAR YEAR 1975

Ottict of tht S«cr«tary of tha TreasuryOflict of Debt Analysis

20 25 30Weeks

January 26,1976-20

%

12

8

4

0

-4

16

12

8

4

VA

TWO MONTH AVERAGE ANNUAL RATESOF CHANGE IN iV^ AND M2

(With FOMC Policy Ranges)

M,

777* r777i mm

M,

vwlAVl

l

(553

HllillHV7.

VAm

1 llllllJ ASONDJ FMAMJJASOND

1974 1975


January 26, 1976-7

MONEY SUPPLY

270J FMAMJ J ASONDJ FMAMJJASOND

1974 1975

Officeof the Secretary of the TreasuryOffice of Debt Analysis

January 26, 1976-8

$Bil.

TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills and Exchange Notes

l$Bil.

1.6

Li1.7

1.7

1

2j0

1.4

Ji

1980

1.7

L1981

1982

1.9

1983

\2

1984

1.0

-ft.

1.1

2.7

I2.4

JFMAMJJASOND JFMAMJJASOND


B9 New issues calendar year 1975.EH3 Issued or announced through January 15,1976.

January 26,197612

$Bil.

2

0

2

0

2

0

2

0

2

0

4

2

0

2

0

4

2

0

2

0

2

0

2.5

I

TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills and Exchange Notes

i4 1985• I

i.i

z

1986

1987

1988

1989

1990

1991

19922.1

I1993

1994

$Bil

2f-

0

2h

0

2h

0

2

0

2

0

2

0

2

0

2

0

2

0

2

0

2

0

.6

.6rm

.9

1995

19%

1997

1998

1999

2000

2001

2002

2003

2004

2005

1.8

JFMAMJJASONDSS New issues calendar year 1975,

JFMAMJJASOND

Office of the Secretary of the TreasuryOffice of debt Analysis January 26,1976-13

TREASURY MARKETABLE MATURITIES-ACTUAL AND HYPOTHETICALPrivately Held, Excluding Bills and Exchange Notes

$Bil.

4

2

0

4

2

0

4

2

0

2

0

2

0

2

0

2

0

Actual—December 1975

1976

4bI

J 4.1 I | 4.0

'I a I15 • I1-6 " J1al 1 Isa I la • sale

i* 1977I i| y 3.1

2.0

•* i Ji i J|2.4 25

I I5.0

I

1.6

2.8

1.7

I

6101978 4,

1979 2a]i 1.7 • J* IIa a I a I17 1980 L7• I •

1981

1982 1S

£

4.6

I2.3

i.i

2.7

12.4

24

JFMAMJJASOND

E2S9 Actual securities issued during calendar year 1975.ilil] Securities issued orannounced through January 15,1976.^N Hypothetical securities to be issued during calendar year 1976.

• Treasury bills (in 2 year cycle slot).Office of the Secretary of the TreasuryOffice of Debt Analysis

$Bil.4

2

0

4

2

0

4

2

0

2

04

2

0

2

0

2

0

Hypothetical—December 1976

5.0

ill 1

jj 1977

Ya aall i g|g60

19784.5

1:2.0

1^

21 PS 2*1tea 83.0 3J.

4.6

13.4

3.6 [

1.6

2.8

g1.7

I2.9

40197948

g25 1980 20

1.7 ,r 1.7 20

43

1.9 M 2-0•

17 1?w 17 2.0 2.0

11 i I § • I8 1981 %

1.41982 ,,

1.9 19831.2 1.3

2.7

12.5

2.0

JFMAMJJASOND

January 26,1976-21

AVERAGE LENGTH OF THE MARKETABLE DEBTPrivately Held

June 1966

5 years4 months

1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976

Office of the Secretary of the TreasuryOfficii of Debt Analysis

*EstimatedJanuary 26, 1976-23

OWNERSHIP OF THE FEBRUARY 15,1976 MATURITIES(In millions of dollars)

Total outstanding

Federal Reserve Banks and Government Accounts

Total privately held

State and local pension funds and life insurance companies.

Fire, casualty, and marine ins., mutual savings banks,savings and loan, and corporate pension funds

Commercial banks

New York reserve city banksChicago reserve city banksOther reserve city banks :Country member banksNonmember banks

State and local general fundsCorporationsOther private holders

*less than 500,000 or Vz of one percent.

Office of the Secretary of the Treasury

Office of Debt Analysis

5 7/8 %Note

4945

1436

3509

5

303

1984

51

14

410

880

629

118

224

875

%

100

56

1*

12

25

18

3

6

25

6V4%Note

3739

2859

880

5

51

410

1*

20

197

192

55

12

347

0//o

100

1

47

2

23

22

6

1

39

Total

8684

4295

4389

10

354

2394

52

14

430

1077

821

173

236

1222

100

8

55

1*

10

25

19

4

5

28

January 26, 1976-24

$Bil.

AGENCY MATURITIES vPrivately Held

$Bi

1

0

1

0

1984

.7

1988

.4 .4

1.5

I1992

1985

.6 .6 £• ll

1989

1993

1986 1987

* .iA

1990 1991

.2

1994 1995

1 -

0

1

0

.2 2 .i .i .i

1996 1997 1998 1999

±mA i .5

• ££• AJLiLA. .i

2000 2001 2002 2003

lh

0

1

0

2004 2005 2006 2007

^1 2

1234 1234 1234 1234 1234 1234 1234 1234


Calendar Years Quarterly

-1/ Issued and announced through January 15, 1976.* Less than $50 million. January 26, 1976-1

TREASURY FINANCING REQUIREMENTS...Week Ending January 16, 1976 S 0 Jan Feb Mar Apr May Jun Jul 1975...

Documents

Transcript of TREASURY FINANCING REQUIREMENTS...Week Ending January 16, 1976 S 0 Jan Feb Mar Apr May Jun Jul 1975...