Yields in percent per annum January 9, 2006
Instruments | 2006 Jan 2* |
2006 Jan 3 |
2006 Jan 4 |
2006 Jan 5 |
2006 Jan 6 |
Week Ending | 2005 Dec |
|
---|---|---|---|---|---|---|---|---|
Jan 6 |
Dec 30 |
|||||||
Federal funds (effective) 1 2 3 | 4.09 | 4.34 | 4.22 | 4.24 | 4.22 | 4.16 | 4.22 | 4.16 |
Commercial Paper 3 4 5 | ||||||||
Nonfinancial | ||||||||
1-month | 4.22 | 4.26 | 4.25 | n.a. | 4.24 | 4.25 | 4.23 | |
2-month | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 4.23 | |
3-month | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | |
Financial | ||||||||
1-month | 4.29 | 4.29 | 4.28 | 4.28 | 4.29 | 4.26 | 4.25 | |
2-month | 4.37 | 4.37 | 4.36 | 4.36 | 4.37 | 4.36 | 4.32 | |
3-month | 4.42 | 4.43 | 4.42 | 4.42 | 4.42 | 4.41 | 4.37 | |
CDs (secondary market) 3 6 | ||||||||
1-month | 4.36 | 4.37 | 4.37 | 4.37 | 4.37 | 4.35 | 4.32 | |
3-month | 4.50 | 4.50 | 4.51 | 4.51 | 4.51 | 4.48 | 4.45 | |
6-month | 4.68 | 4.64 | 4.63 | 4.65 | 4.65 | 4.65 | 4.62 | |
Eurodollar deposits (London) 3 7 | ||||||||
1-month | 4.37 | 4.39 | 4.40 | 4.40 | 4.39 | 4.36 | 4.34 | |
3-month | 4.53 | 4.53 | 4.54 | 4.54 | 4.54 | 4.51 | 4.47 | |
6-month | 4.69 | 4.68 | 4.68 | 4.68 | 4.68 | 4.68 | 4.65 | |
Bank prime loan 2 3 8 | 7.25 | 7.25 | 7.25 | 7.25 | 7.25 | 7.25 | 7.25 | 7.15 |
Discount window primary credit 2 9 | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 | 5.25 | 5.15 |
U.S. government securities | ||||||||
Treasury bills (secondary market) 3 4 | ||||||||
4-week | 3.97 | 3.96 | 3.97 | 3.98 | 3.97 | 3.60 | 3.61 | |
3-month | 4.07 | 4.09 | 4.10 | 4.12 | 4.10 | 3.92 | 3.89 | |
6-month | 4.25 | 4.22 | 4.22 | 4.24 | 4.23 | 4.20 | 4.18 | |
Treasury constant maturities | ||||||||
Nominal 10 | ||||||||
1-month | 4.05 | 4.03 | 4.05 | 4.06 | 4.05 | 3.69 | 3.69 | |
3-month | 4.16 | 4.19 | 4.20 | 4.22 | 4.19 | 4.01 | 3.97 | |
6-month | 4.40 | 4.37 | 4.37 | 4.39 | 4.38 | 4.35 | 4.33 | |
1-year | 4.38 | 4.35 | 4.36 | 4.38 | 4.37 | 4.36 | 4.35 | |
2-year | 4.34 | 4.31 | 4.32 | 4.36 | 4.33 | 4.38 | 4.40 | |
3-year | 4.30 | 4.28 | 4.29 | 4.32 | 4.30 | 4.34 | 4.39 | |
5-year | 4.30 | 4.28 | 4.29 | 4.32 | 4.30 | 4.33 | 4.39 | |
7-year | 4.32 | 4.31 | 4.31 | 4.33 | 4.32 | 4.34 | 4.41 | |
10-year | 4.37 | 4.36 | 4.36 | 4.38 | 4.37 | 4.37 | 4.47 | |
20-year 11 | 4.62 | 4.60 | 4.61 | 4.63 | 4.62 | 4.60 | 4.73 | |
Inflation indexed 12 | ||||||||
5-year | 2.00 | 1.97 | 2.01 | 1.99 | 1.99 | 2.07 | 2.09 | |
7-year | 2.03 | 2.01 | 2.04 | 2.04 | 2.03 | 2.06 | 2.10 | |
10-year | 2.03 | 2.01 | 2.04 | 2.05 | 2.03 | 2.07 | 2.12 | |
20-year | 2.06 | 2.02 | 2.06 | 2.07 | 2.05 | 2.04 | 2.14 | |
Inflation-indexed long-term average 13 | 1.99 | 1.96 | 2.00 | 2.01 | 1.99 | 1.98 | 2.09 | |
Interest rate swaps 14 | ||||||||
1-year | 4.83 | 4.79 | 4.79 | 4.81 | 4.80 | 4.83 | 4.84 | |
2-year | 4.81 | 4.76 | 4.76 | 4.78 | 4.78 | 4.82 | 4.85 | |
3-year | 4.80 | 4.76 | 4.76 | 4.78 | 4.78 | 4.82 | 4.87 | |
4-year | 4.82 | 4.78 | 4.77 | 4.80 | 4.79 | 4.83 | 4.89 | |
5-year | 4.83 | 4.80 | 4.79 | 4.81 | 4.81 | 4.85 | 4.92 | |
7-year | 4.86 | 4.84 | 4.83 | 4.85 | 4.84 | 4.87 | 4.96 | |
10-year | 4.90 | 4.90 | 4.89 | 4.90 | 4.90 | 4.91 | 5.01 | |
30-year | 5.05 | 5.08 | 5.06 | 5.08 | 5.07 | 5.06 | 5.19 | |
Corporate bonds | ||||||||
Moody's seasoned | ||||||||
Aaa 15 | 5.26 | 5.25 | 5.26 | 5.28 | 5.26 | 5.24 | 5.37 | |
Baa | 6.21 | 6.20 | 6.20 | 6.22 | 6.21 | 6.19 | 6.32 | |
State & local bonds 16 | 4.35 | 4.35 | 4.38 | 4.46 | ||||
Conventional mortgages 17 | 6.21 | 6.21 | 6.22 | 6.27 |
* | Markets closed. |
n.a. | Not available. |
1. The daily effective federal funds rate is a weighted average of rates on brokered trades.
2. Weekly figures are averages of 7 calendar days ending on Wednesday of the current week; monthly figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. On a discount basis.
5. Interest rates interpolated from data on certain commercial paper trades settled by The Depository Trust Company. The trades represent sales of commercial paper by dealers or direct issuers to investors (that is, the offer side). The 1-, 2-, and 3-month rates are equivalent to the 30-, 60-, and 90-day dates reported on the Board's Commercial Paper Web page (www.federalreserve.gov/releases/cp/).
6. An average of dealer bid rates on nationally traded certificates of deposit.
7. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time.
8. Rate posted by a majority of top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks. Prime is one of several base rates used by banks to price short-term business loans.
9. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program, which became effective January 9, 2003. This rate replaces that for adjustment credit, which was discontinued after January 8, 2003. For further information, see www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/default.htm. The rate reported is that for the Federal Reserve Bank of New York. Historical series for the rate on adjustment credit as well as the rate on primary credit are available at www.federalreserve.gov/releases/h15/data.htm.
10. Yields on actively traded non-inflation-indexed issues adjusted to constant maturities. Source: U.S. Treasury.
11. A factor for adjusting the daily nominal 20-year constant maturity in order to estimate a 30-year nominal rate can be found at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/ltcompositeindex.html.
12. Yields on Treasury inflation protected securities (TIPS) adjusted to constant maturities. Source: U.S. Treasury. Additional information on both nominal and inflation-indexed yields may be found at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/index.html.
13. Based on the unweighted average bid yields for all TIPS with remaining terms to maturity of more than 10 years.
14. International Swaps and Derivatives Association (ISDA®) mid-market par swap rates. Rates are for a Fixed Rate Payer in return for receiving three month LIBOR, and are based on rates collected at 11:00 a.m. Eastern time by Garban Intercapital plc and published on Reuters Page ISDAFIX®1. ISDAFIX is a registered service mark of ISDA. Source: Reuters Limited.
15. Moody's Aaa rates through December 6, 2001 are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 2001, these rates are averages of Aaa industrial bonds only.
16. Bond Buyer Index, general obligation, 20 years to maturity, mixed quality; Thursday quotations.
17. Contract interest rates on commitments for fixed-rate first mortgages. Source: FHLMC.