qkLICSlqWWWWWWWW W W W W WWWWW/ B *u              0 # gi( f$%Db'!~Dv'!ڴD'D'!D-!!چ(!ڵ--!!!% % \DP1DSK0!! <I!Bۜ/!8< I!Zۜ/\!1_<<N-&Db'!~Dv'!ڴD'D'!D-!!چ(!ڵ--!!!% % \DP1DSK0!! <I!Bۜ/!8< I!Zۜ/\!1_<<N-'(Db'!~Dv'( LB)'*-<<N-8!O!h\!\hۼ Rp'!ۮf!z!zۆ(!۵--!!% t/RLPV%!1_۝g!!^/V% !1/*!;_tPt/:ܞg*!*qqh @THREEONE(h @DARWIN(^ Table B--71.--Bond yields and interest rates, 1929--96^ [Percent per annum]\_\_\_\_\_\_\_\_\_ \_ \_ \_ \_ \_\_\_\_\_ ^ Corporate bonds6^ U.S. Treasury securities ! ^ (Moody's) \__\_\_\_\_\_ \__ \_ ^High-grade^Discount ^municipal ^New-home ^Commer-^Prime rate ^rate,^Federal ^Year and" ^ Bills (new issues)\1\ / ^ Constant maturities\2\  ^bonds ^mortgage ^cial paper, ^charged by ^Federal  ^funds ^month   \__ \_  \__ \_ \_ ^(Standard ^yields\3\  ^6 months\4\ ^banks\5\  ^Reserve Bank ^rate\6\ ^Aaa ^Baa ^& Poor's)   ^of New ^3- month  ^6- month  ^3- year  ^10- year  ^30- year ^York\5\  \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_ \_'1929.................................................................................................................................................................................................................................'   Q@ @ Gz@ ffffff@"5.50-6.00  p= ף@'1933.................................................................................................................................................................................................................................'  {Gz?  (\@  ףp= @ ףp= @ Gz?"1.50-4.00  {Gz@'1939.................................................................................................................................................................................................................................'  Zd;O?  Gz@ ףp= @ Gz@ zG? ?   '1940.................................................................................................................................................................................................................................'  y&1?  Q@ @ @ Q? ? '1941.................................................................................................................................................................................................................................'  |?5^?  )\(@ RQ@ @ (\? ? '1942.................................................................................................................................................................................................................................'  w/?  p= ף@ Q@ zG@ Q? ? '7'1943.................................................................................................................................................................................................................................'  Zd;?  ףp= @ HzG@ {Gz@ Gz? ? '7'1944.................................................................................................................................................................................................................................'  ?  (\@ zG @ (\? \(\? ? '7  '1945.................................................................................................................................................................................................................................'  ?  (\@ RQ @ Q? ? ? '7'1946.................................................................................................................................................................................................................................'  ?  = ףp=@ ffffff@ = ףp=? Q? ? '7'1947.................................................................................................................................................................................................................................'  5^I ?  zG@ Q @ Gz@ {Gz?"1.50-1.75 '1948.................................................................................................................................................................................................................................'  p= ף?  (\@ (\ @ 333333@  ףp= ?"1.75-2.00  q= ףp?'1949.................................................................................................................................................................................................................................'  oʡ?  HzG@ \(\ @ Gz@ ףp= ?  ?  '1950.................................................................................................................................................................................................................................'  rh|?  (\@ Q @ Gz? 333333? (\@ q= ףp? '1951................................................................................................................................................................................................................................. '   E?   zG@ HzG @   HzG@  {Gz@  ?!'1952.................................................................................................................................................................................................................................!'  !K7A? ! !Gz@ !)\( @ !Q@ !p= ף@ ! !?"'1953................................................................................................................................................................................................................................."'  "L7A`? " "(\@ "@ " @ "Q @ "(\@ ")\(@ "\(\ @ "ףp= ?#'1954.................................................................................................................................................................................................................................#'  #"~? # #Gz? #333333@ #333333@ #Gz @ #(\@ #HzG? #ffffff@ #? $ $%'1955.................................................................................................................................................................................................................................%'  %?5^I ? % %(\@ %(\@ %{Gz@ %= ףp= @ %= ףp=@ %q= ףp@ %HzG @ %= ףp=? %{Gz?&'1956.................................................................................................................................................................................................................................&'  &$C@ & &Q @ &q= ףp @ &zG @ & ףp= @ &q= ףp@ &{Gz @ &)\(@ &)\(@ &ףp= @''1957.................................................................................................................................................................................................................................''  'A`" @ ' 'ףp= @ '333333 @ 'Q@ 'ףp= @ ' @ '{Gz@ '@ '(\@ 'zG@('1958.................................................................................................................................................................................................................................('  (Cl? ( (Q@ ((\ @ (RQ@ (Q@ ({Gz @ (Gz@ (p= ף@ (333333@ (Q?)'1959.................................................................................................................................................................................................................................)'  )= ףp= @ )-@ )ףp= @ )RQ@ )Q@ )333333@ )@ )(\@ )Q@ )zG @ )ffffff @ * *+'1960.................................................................................................................................................................................................................................+'  +Cl@ +`" @ +ףp= @ +{Gz@ +p= ף@ +(\@ +ףp= @ +@ +HzG@ += ףp= @ +(\ @,'1961.................................................................................................................................................................................................................................,'  ,/$@ ,ףp= @ ,RQ @ , ףp= @ ,ffffff@ ,RQ@ ,Gz @ ,(\@ ,@ , ,\(\?-'1962.................................................................................................................................................................................................................................-'  -MbX9@ -$C@ -(\ @ -@ -RQ@ -Gz@ -q= ףp @ -Gz @ -@ - -q= ףp@.'1963..................................................................................................................................................................................................................................'  .K7A @ ./$ @ .\(\ @ . . ףp= @ .q= ףp@ .ףp= @ .(\@ .ffffff @ .@ .ףp= @ .q= ףp @/'1964................................................................................................................................................................................................................................./'  /1Zd @ /rh| @ /Q@ /(\@ /@ /RQ@ /(\ @ /RQ@ /(\@ /@ /ffffff @ / @ 0 01'1965.................................................................................................................................................................................................................................1'  1oʡ@ 1Q8@ 1zG@ 1Q@ 1(\@ 1{Gz@ 1)\( @ 1= ףp=@ 1Q@ 1)\(@ 1)\(@ 1HzG@2'1966.................................................................................................................................................................................................................................2'  2/$@ 2S@ 2Q@ 2Gz@ 2Q@ 2Gz@ 2(\@ 2@ 2333333@ 2Q@ 2@ 2q= ףp@3'1967.................................................................................................................................................................................................................................3'  3bX9H@ 3Q@ 3Q@ 3HzG@ 3 ףp= @ 3Q@ 3ףp= @ 3ףp= @ 3ffffff@ 3q= ףp@ 3(\@ 3zG@4'1968.................................................................................................................................................................................................................................4'  4B`"[@ 4zG@ 4Q@ 4@ 4Q@ 4(\@ 4 ףp= @ 4zG@ 4@ 4333333@ 4p= ף@ 4p= ף@5'1969.................................................................................................................................................................................................................................5'  5h|?@ 5xi@ 5Gz@ 5Gz@ 5Q@ 5= ףp=@ 5= ףp=@ 5= ףp=@ 5RQ@ 5ףp= @ 5{Gz@ 5ffffff @ 6 67'1970.................................................................................................................................................................................................................................7'  7E@ 7sh|?@ 7)\(@ 7ffffff@ 7Gz @ 7Q8"@ 7 ףp= @ 7fffff @ 7ףp= @ 7p= ף@ 7@ 7Q@8'1971.................................................................................................................................................................................................................................8'  81Zd@ 8%C @ 8@ 8p= ף@ 8(\@ 8Q!@ 8@ 8(\@ 8q= ףp@ 8zG@ 8Q@ 8p= ף@9'1972.................................................................................................................................................................................................................................9'  9bX9H@ 9w/@ 9zG@ 9ףp= @ 9ףp= @ 9RQ @ 9Gz@ 9ffffff@ 9Q@ 9@ 9@ 9Q@:'1973.................................................................................................................................................................................................................................:'  :Dl)@ :ʡE@ :@ :\(\@ :(\@ :{Gz @ :Q@ :ףp= @ :L @ :(\ @ :(\@ :(\u!@;'1974.................................................................................................................................................................................................................................;'  ;%C@ ;NbX9@ ;HzG@ ;= ףp=@ ;p= #!@ ;#@ ;\(\@ ;ףp= !@ ;Gz#@ ;Q%@ ;RQ@ ;%@ < <='1975.................................................................................................................................................................................................................................='  ='1Z@ =rh|@ =(\@ =(\@ =)\!@ =Q8%@ =(\@  =  =HzG@ =q= ףp@ =@ =HzG@>'1976.................................................................................................................................................................................................................................>'  >~j@ >Mb@ >Gz@ >q= ףp@ >\( @ >#@ >(\@  >  >\(\@ >\(\@ >@ >)\(@?'1977.................................................................................................................................................................................................................................?'  ?(\@ ? ףp= @ ?(\@ ?Gz@ ?@ ? ףp= @ ?q= ף!@ ?= ףp=@ ? ףp= "@ ?q= ףp@ ?RQ@ ?ףp= @ ?)\(@@'1978.................................................................................................................................................................................................................................@'  @M@ @}?5^I@ @Gz @ @R @ @{G @ @(\u!@ @{G"@ @@ @Q#@ @(\@ @Q"@ @ףp= @ @Q@A'1979.................................................................................................................................................................................................................................A'  AE$@ AbX9$@ AQk#@ AzG"@ A(\"@ A(\B#@ AzGa%@ A(\@ A(\%@ AR%@ Aףp= W)@ A(\$@ AzGa&@ B BC'1980.................................................................................................................................................................................................................................C'  CPn'@ Csh|&@ C'@ CQ&@ C ףp=&@ CzG'@ Cףp= W+@ CQ!@ CRQ)@ CGz(@ C ףp=.@ C ףp='@ CQ*@D'1981.................................................................................................................................................................................................................................D'  D+,@ DZd;O+@ DzG,@ DR+@ Dfffff*@ Dףp= W,@ D ףp= 0@ D(\u&@ Dffffff-@ DQ-@ DQ2@ Dףp= *@ DzGa0@E'1982.................................................................................................................................................................................................................................E'  EZd;_%@ E^I +&@ Eףp= )@ E  EQ)@ EGz+@ E\(0@ Ep= #'@ EHzG.@ EHz'@ EQ-@ E ףp= &@ EQ(@F'1983.................................................................................................................................................................................................................................F'  F(\B!@ F!@ Ffffff$@ F333333&@ F\(\&@ FGz(@ F+@ Fq= ף"@ Fp= #)@ FHz!@ FGz%@ F!@ FGz."@G'1984.................................................................................................................................................................................................................................G'  G)\(#@ G#@ GHz'@ GzG(@ GR(@ GQk)@ GzGa,@ GL$@ G(\(@ GRQ$@ GGz(@ G!@ G(\u$@ H HI'1985.................................................................................................................................................................................................................................I'  IQ@ Ip= ף@ IHzG#@ I= ףp=%@ IGz%@ I= ףp&@ Iq= ףp)@ I\(\"@ I'@ IQ @ I\(#@ I(\@ I333333 @J'1986.................................................................................................................................................................................................................................J'  JQ@ JQ@ J= ףp=@ JQ@ JQ@ J ףp= "@ JHz$@ JQ@ Jףp= W$@ J(\@ J)\ @ JRQ@ J= ףp=@K'1987.................................................................................................................................................................................................................................K'  KHzG@ K333333@ KQ@ KHz @ KGz.!@ K(\"@ K)\(%@ KQ@ KQ"@ Kffffff@ KQk @ Kp= ף@ Kp= ף@L'1988.................................................................................................................................................................................................................................L'  L(\@ LGz@ LQ @ L33333!@ LQ!@ LQk#@ L)\%@ L ףp= @ LzGa"@ LQ@ Lp= ף"@ L@ LHzG@M'1989.................................................................................................................................................................................................................................M'  M= ףp= @ MGz @ M!@ M{G @ Mfffff @ MQ"@ M\(\$@ M(\@ M(\B$@ M!@ M= ףp%@ MQ@ MQk"@ N NO'1990.................................................................................................................................................................................................................................O'  O ףp= @ OzG@ OQ @ O!@ OQ8!@ Op= ף"@ OQ$@ O@ O$@ O@ OQ$@ OQ@ O333333 @P'1991.................................................................................................................................................................................................................................P'  PGz@ P(\@ PHzG@ Pq= ףp@ PHzG @ P ףp=!@ P#@ P(\@ Pp= ף"@ Pffffff@ PQ @ P@ P(\@Q'1992.................................................................................................................................................................................................................................Q'  Q @ Q(\ @ Q333333@ Q ףp= @ QGz@ QHzG @ Q(\!@ Qp= ף@ Q{Gz @ Qffffff@ Q@ Q @ Q)\( @R'1993.................................................................................................................................................................................................................................R'  R)\(@ RQ @ R(\@ R{Gz@ R\(\@ RzG@ RQ@ RQ@ R@ Rffffff @ R R R)\(@S'1994.................................................................................................................................................................................................................................S'  S)\(@ Sp= ף@ SGz@ S\(\@ S{Gz@ SzG@ S(\B!@ S(\@ S(\@ SQ@ S@ S @ Sףp= @ T TU'1995.................................................................................................................................................................................................................................U'  U ףp= @ U\(\@ U@ UHzG@ UQ@ U\(\@ Uffffff @ U@ U{Gz@ UQ@ U)\!@ Uףp= @ URQ@V'1996.................................................................................................................................................................................................................................V'  VGz@ V\(\@ V(\@ V(\@ Vףp= @ V{Gz@ V @ V@ V333333@ VGz@ V ףp= @ VGz@ V333333@W\_W\_W\_W\_W\_W\_W\_W\_W\_ W\_ W\_ W\_ W\_ W\_W\_W\_W\_W\_EY' 1/ Rate on new issues within period; bank-discount basis.DZ' 2/ Yields on the more actively traded issues adjusted to?[' constant maturities by the Department of the Treasury.E\' 3/ Effective rate (in the primary market) on conventionalC]' mortgages, reflecting fees and charges as well as contractB^' rate and assuming, on the average, repayment at end of 10D_' years. Rates beginning January 1973 not strictly comparable`' with prior rates.Ha' 4/ Bank-discount basis; prior to November 1979, data are forb' 4-6 months paper.Hc' 5/ For monthly data, high and low for the period. Prime rate:d' for 1929-33 and 1947-48 are ranges of the rate in"e' effect during the period.Jf' 6/ Since July 19, 1975, the daily effective rate is an average>g' of the rates on a given day weighted by the volume ofCh' transactions at these rates. Prior to that date, the dailyCi' effective rate was the rate considered most representativeAj' of the day's transactions, usually the one at which mostk' transactions occurred.Gl' 7/ From October 30, 1942, to April 24, 1946, a preferentialCm' rate of 0.50 percent was in effect for advances secured by:n' Government securities maturing in 1 year or less.`p' Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, yq' Federal Housing Finance Board, Moody's Investors Service, and Standard and Poor's Corporation