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Interest rates and bond yields.

[GRAPHIC OMITTED]
INTEREST RATES AND BOND YIELDS

Interest rates were mixed in April.

[Percent per annum]

                       U.S. Treasury security yields

                    3-month      Constant maturities (2)
                  bills (at
Period         auction) (1)    3-year    10-year    30-year

1999                   4.66      5.49       5.65       5.87
2000                   5.85      6.22       6.03       5.94
2001                   3.44      4.09       5.02       5.49
2002                   1.62      3.10       4.61          *
2003                   1.01      2.10       4.01          *
2004                   1.38      2.78       4.27          *
2005                   3.16      3.93       4.29          *
2006                   4.73      4.77       4.80       4.91
2007                   4.41      4.35       4.63       4.84
2008                   1.48      2.24       3.66       4.28
2008: Apr              1.32      2.23       3.68       4.44
      May              1.71      2.69       3.88       4.60
      June             1.89      3.08       4.10       4.69
      July             1.72      2.87       4.01       4.57
      Aug              1.79      2.70       3.89       4.50
      Sept             1.46      2.32       3.69       4.27
      Oct               .84      1.86       3.81       4.17
      Nov               .30      1.51       3.53       4.00
      Dec               .04      1.07       2.42       2.87
2009: Jan               .12      1.13       2.52       3.13
      Feb               .31      1.37       2.87       3.59
      Mar               .25      1.31       2.82       3.64
      Apr               .17      1.32       2.93       3.76

Week ended:
2009: Apr 11            .20      1.35       2.93       3.72
          18            .18      1.27       2.87       3.70
          25            .14      1.33       2.96       3.79
      May 2             .14      1.37       3.10       3.99
          9             .20      1.44       3.23       4.15

                High-grade                 Discount window
                 municipal                (N.Y. F.R. Bank) (4, 5)
                     bonds   Corporate
               (Standard &   Aaa bonds   Primary   Discount
Period         Poor's) (3)   (Moody's)    credit       rate

1999                  5.43        7.04       ...       4.62
2000                  5.77        7.62       ...       5.73
2001                  5.19        7.08       ...       3.40
2002                  5.05        6.49       ...       1.17
2003                  4.73        5.67      2.12          *
2004                  4.63        5.63      2.34          *
2005                  4.29        5.24      4.19          *
2006                  4.42        5.59      5.96          *
2007                  4.42        5.56      5.86          *
2008                  4.80        5.64      2.39          *
2008: Apr             4.43        5.55      2.25          *
      May             4.34        5.57      2.25          *
      June            4.48        5.68      2.25          *
      July            4.88        5.67      2.25          *
      Aug             4.90        5.64      2.25          *
      Sept            5.03        5.65      2.25          *
      Oct             5.68        6.28      1.25          *
      Nov             5.28        6.15      1.25          *
      Dec             5.53        5.08       .50          *
2009: Jan             5.13        5.05       .50          *
      Feb             5.00        5.27       .50          *
      Mar             5.15        5.50       .50          *
      Apr             4.88        5.39       .50          *

Week ended:
2009: Apr 11          5.02        5.47       .50          *
          18          4.96        5.32       .50          *
          25          4.64        5.33       .50          *
      May 2           4.76        5.46       .50          *
          9           4.75        5.47       .50          *

                                           New-home
               Prime rate     Federal      mortgage
               charged by       funds        yields
Period          banks (5)    rate (6)    (FHFB) (7)

1999                 8.00        4.97          7.04
2000                 9.23        6.24          7.52
2001                 6.91        3.88          7.00
2002                 4.67        1.67          6.43
2003                 4.12        1.13          5.80
2004                 4.34        1.35          5.77
2005                 6.19        3.22          5.94
2006                 7.96        4.97          6.63
2007                 8.05        5.02          6.41
2008                 5.09        1.92          6.05
2008: Apr            5.00        2.28          5.98
      May            5.00        1.98          6.01
      June           5.00        2.00          6.13
      July           5.00        2.01          6.29
      Aug            5.00        2.00          6.33
      Sept           5.00        1.81          6.09
      Oct            4.00         .97          6.10
      Nov            4.00         .39          6.16
      Dec            3.25         .16          5.67
2009: Jan            3.25         .15          5.11
      Feb            3.25         .22          5.09
      Mar            3.25         .18          5.10
      Apr            3.25         .15           ...

Week ended:
2009: Apr 11         3.25         .14           ...
          18         3.25         .15           ...
          25         3.25         .14           ...
      May 2          3.25         .17           ...
          9          3.25         .21           ...

(1 High bill rate at auction, issue date within period,
bank-discount basis. Data are stop yields from uniform-price
auctions.

(2) Yields on actively traded issues adjusted to constant
maturities.

(3) Weekly data are Wednesday figures.

(4) Discount window borrowing for primary credit and discount
rate (adjustment credit). The rate for primary credit replaced
the rate for adjustment credit.

(5) Average effective rate for year; rate in effect at end
of month or week.

(6) Daily effective rate; weighted average of rates on brokered
trades.

(7) 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.

* Discount rate (adjustment credit) series was discontinued after
January 8, 2003. Series for 30-year constant maturity was
discontinued on February 18, 2002, and reintroduced on
February 9, 2006.

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.
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Article Details
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Title Annotation:MONEY, CREDIT, AND SECURITY MARKETS
Publication:Economic Indicators
Date:Apr 1, 2009
Words:849
Previous Article:Consumer credit.
Next Article:Common stock prices and yields.
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