Coupon Maturities^ 4Coupon Refunding...April -June 1986 Increase in Cash Balance Uses Coupon Maturities^ Foreign Nonmarketables V/2 4Deficit u 91% Sources 4Coupon Refunding Savings

$Bil.

80

60

40-

20-

TREASURY FINANCING REQUIREMENTSApril - June 1986

Increase inCash Balance

Uses

Coupon Maturities^Foreign

Nonmarketables

V/2

4 Deficit u

91 % Sources

4 Coupon Refunding

Savings Bonds

2V4

State and Local

Net Market aBorrowing w

-Încludes budget deficit, changes in checks outstanding, and minormiscellaneous debt transactions.

Office of the Secretary of the TreasuryOffica of Government Finance & Market Analysis

$Bil.

80

60

40

-20

July 29, 1986-20

$Bil.

100

80

60

40

20

0

TREASURY FINANCING REQUIREMENTSJuly - September 1986

Uses

Coupon Maturities }

11/2

ForeignNonmarketables

4 Deficits

99V4 Sources

^Coupon Refunding

Savings Bonds

2%

2 /

State and Local

Net Market

Borrowing431/2<

To be

done

30 Vi

•!/ Includes budget deficit, changes in checks outstanding,and minor miscellaneous debt transactions.

Îssued or announced through July 25, 1986.Âssumes a $20 billion cash balance September 30, 1986.

Decrease in -Cash Balance-2/

43/4

$Bil.

100

80

60

40

20

0

Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysts July 29, 1986-21

$Bil.

40

30

20

10

TREASURY OPERATING CASH BALANCESemi-Monthly

Tax and Loan ^«Accounts Balance *

[^ Total Operating Balance

'•»'».,„,w«imii>rt»"',"'"''"v,l',<% t'*«»ii»rt»",v

0

Federal Reserve Account

-10-

-20

•Without New

Borrowing^

-30Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

1985 19861/ Assumes refunding of maturing issues.

Jul Aug Sep

Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysis July 29, 1986-4

oT

CO

00

0>

c

^z

lOo

CO

o

o>

CO

cocCO

f-r3oo

>cC

D

ec~

"

^(11

co

>n

o>

O

^~

ccaCD

>I.

d)

co

CD

rr

>•co(1)

:=

00

Li.

00

CD

05

CJ

LU

>1

=C

MC

O

CD

C

TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil., .$Bil.

30-

25-

20

15

10

5

Savings Bonds

State & Local Series

Foreign Nonmarketables

5.9

4 1 4-6n

27.2

I0.7

I

-30

-25

-20

-15

-10

52.9 ££ H 1.5 M 2.2 i 1.7

2.8

—5

-2.0-2.5

I II III IV1982

Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysis

-.6

I II III IV1983

I II III1984

IV I II III1985

IV I II III61986

e estimate

July 29, 1986-12

QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

III IV I II III IV I II III IV I II III IV1982 1983 1984 1985

1/ F.R.B. purchases of marketable issues as agents for foreign and internationalmonetary authorities which are added to the announced amount of the issue.

37 Preliminary. * Less than $50 million.Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysis

I 11^1986

July 29, 1986-17

%

20

SHORT TERM INTEREST RATESQuarterly Averages

%

20

1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Office of the Secretary of the TreasuryOffice of Government Finance& Market Analysis July 29, 1986-7

LONG TERM MARKET RATESQuarterly Averages

New

• ••••••>•••*.-—

/ NConventional // New Aa

Corporates

An

J_±

%

17

16

15

14

13

12

11

10

9

8

7

6

51976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

%

17

16

15

14

13

12

11

10

9

8

7

6

5


SHORT TERM INTEREST RATESWeekly Averages

%

8

Commercial Paper

3 Month Treasury Bill

Oct Nov

1985

Dec


Jan Feb Mar Apr

1986

Prime Rate

May Jun

Throughweek ending

July 23

••«

Jul

%

8

July 29, 1986-5

%

INTERMEDIATE AND LONG MARKET RATESWeekly Averages

Treasury 5-Year

Throughweek ending

July 25

%

11

10

Oct Nov

1985

Dec Jan Feb Mar Apr

1986

May Jun Jul


July 29, 1986-6

%

MARKET YIELDS ON GOVERNMENTSBid Yields

8

>-,."•••

April 28, 19

July 28, 1986

86

% 1%10

9

8

7

to

—

s^^^^ 10

9

8

7

-II1 i L I J I f -

—

•

1 0 12 14 16 18 20 22 24 26 28 2

6

%

8

6

4 5 6

Years to Maturity

8 9 10


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTBY MATURITY

$Bil.

1400

1300

1200

1100

1000

900

800

700

600

500

400

300

200

100

COUPONS

3Over 10 yearsI 2-10 years

jggi 1-2 years1 year & under

BILLS

1975 1976 1977 1978 1979 1980 1981 1982

As of December 31Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysis

June 30, 1986^^09.8

1983 1984 1985

July 29, 1986-2

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTBY MATURITY

100%

Coupons HI Over 10 years

H 2-10 years

1-2 years Bills

1 year & under

1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 Jun'86

As of December 31Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysis July 29, 1986-3

AVERAGE LENGTH OF THE MARKETABLE DEBTPrivately Held

1945 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85


MATURING COUPON ISSUESAugust - December 1986

(In millions of dollars)

Maturing Issues

June 30, 1986

Total

Held by

Federal Reserve

& Government

Accounts

Private

Investors

ForeignInvestors J/

8% Note 8/15/86

11 3/8% Note 8/15/8612 3/8% Note 8/31/8612 1/4% Note 9/30/8611 7/8% Note 9/30/86

11 5/8% Note 10/31 / 8613 7/8% Note 11/15/8616 1/8% Note 11/15/8611% Note 11 / 15/86

6 1/8% Bond 11/15/8610 3/8% Note 11/30/869 7/8% Note 12 / 31 / 86

10% Note 12/31 / 86

9,5158,8629,8595,8139,6129,8013,2063,4697,6501,196

10,05210,112

5,908

1,9872,100

859

244

790

529

97

277

1,126864

559

600

343

7,5286,7629,0005,5698,8229,2723,1093,1926,524

332

9,4939,5125,565

112

299

1,003450

821

626

814

111

363

3

1,014814

330

Totals 95,055 10,375 84,680 6,760

F.R.B. custody accounts for foreign official institutions;included in Private Investors.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 29, 1986-19

TREASURY MARKETABLE MATURITIES

• a ii

Privately Held, Excluding Bills$Bil.

108-6-4

n

8.4 7.5 L2115.0

1990 1°*

111 I

li

10.3

6.9 KM 7.3

^4.2

-4.8

101-

.5.5

5.8

7.7

14 -^ 2.6

-6.5 6.4

2.9

7.9

182

1

II 19915.4 • | 5.3

10.1

5.9

6.5

se1992

I6.3

1 ^1993

4.7

6.87.6

5.3 1994 7.2

^9-1 1995 7.2

1I10.0 1996

12.9

ii5.7

2.3

6.3

4.1

.12.1

7.2

J FMAMJ JASOND

•I Securities issued prior to 1984S82S New issues calendar year 1984

Office of the Secretary of the TreasuryOffice of Government Finance& Market Analysis

108

6420

6420

86420

10864

20JFMAMJ JASOND

£%3 New issues calendar year 1985

ill Issued or announced through July 25, 1986

July 29, 1986-9

TREASURY MARKETABLE MATURITIES

$Bil.._01—01—

01—

2hoi—2

02-064

20

86420

1086420

Privately Held, Excluding Billsr—i $Bil.

8-

6-4

20

2-oi—

2

0

i 2.2

1.5

1.7

2.9

4.8

2.7

*—9 1999

2000

1.7 2001

2002

2003

3.2

2004

3.6

2005

6.3

2006

2007

2008

i2.5

.2.4

3.5

4.0

9.3

I

1.4

J. 3

1.6

i2.6

I7.2

8.3

I

1.2

.3.6

XJ

JFMAMJ JASOND

HI Securities issued prior to 1984

ISSS New issues calendar year 1984Office of the Secretary of the TreasuryOffice of Government Finance & Market Analysis

2 -oL.

20

20

8

64-

20

1210

864-

2-0

4

2 -0

10864

20

8

642

0

1.8

11.8

I

t I7.0

,3.9 2009

1.92010

• 3.7 2011

2012

2013

4.8 2014

2015

39 0 2016

3.4

14.0

14.4

• 10.3

112.6

4.7

I

6.56.8

1

JFMAMJ JASOND

New issues calendar year 1985

Issued or announced through July 25, 1986

July 29, 1986-10

STRIPS PROGRAM

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul*


1985*asof July 23, 1986

1986

July 29, 1986-16

STRIPS PROGRAM

Security Issue Date Total Issued Amount Stripped

$ Millions as of 7 / 23 / 86

11 5/8% 11/15/ 94 11 / 15 / 84 6,659 1,27211 1/4% 2/15/95 2/15/85 6,934 1,13111 1/4% 5/15/95 5/15/85 7,127 2,13410 1/2% 8/15/95 8/15/85 7,956 983

9 1/2% 11/15/95 11 / 15/85 7,318 524

8 7/8% 2/15/96 2/15/86 8,213 34

7 3/8% 5/15/96 5/15/86 9,527 0

11 5/8% 11/15/ 04 10 / 30 / 84 8,302 5,82112% 5/15/05 4/2/85 4,261 1,96010 3/4% 8/15/05 7/2/85 9,270 682

9 3/8% 2/15/06 1/15/86 4,756 *

11 3/4% 11/15/ 14 11 / 15/85 6,006 2,87211 1/4% 2/15/15 2/15/85 12,668 8,44710 5/8% 8/15/15 8/15/85 7,150 2,542

9 7/8% 11/15/ 15 11 / 15/85 6,900 27

9 1/4% 2/15/16 2/15/86 7,267 11

7 1/4% 5/15/16 5/15/86 9,318 0

129,632 28,440* Eligible for STRIPS August 18, 1986

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 29. 1986-24

NET NEW MONEY IN AGENCY FINANCE, QUARTERLYPrivately Held

>bll.

2

n J_FFCB

_ *

-21 •1" 'l»

18

16FHLB^

14

12

10 .18

~ I 1 I II6 .III II 14

2

0111..II•III ll

I II III IV I II III IV I II III IV I 11 III IV I ll@ III |V

1982 1983 1984 1985 1986

*Less than $50 million.

12

10

8

6

4

2H

0ml

I II III IV

1982

GNMAMortgage-BackedSecurities

II III IV

1983

I II III IV I II III IV I lle III IV

1984 1985 1986

Partly estimated.

1/ Includes FHLB discount notes, bonds, and FHLMC discount notes, debentures,off!"o! GowmmenTFTnaê^Set Analysis certificates, mortgage-backed bonds, and mortgage participation certificates. July 29, 1986-13

SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN AUGUST 1986^

Monday Tuesday Wednesday Thursday Friday

1

4 5Auction

3 yearly

6Auction

10 yearly

7Auction

30 yearly

8

11 12 13Announce

2 year

14 15

18 19Announce

5 year

20Auction2 yearly

21 22Announce

52 week

25 26 27Auction

5 year A'

28Auction

52 week 1/

29

Office of the Secretary of the TreasuryOffice ol Government Finance & Market Analysis

J7 Does not include weekly bills2/ For settlement August 153/ For settlement September 24/ For settlement in early September5/ For settlement September 4

July 29. 1986-22

SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN SEPTEMBER 1986^

Monday Tuesday Wednesday Thursday Friday

1

Holiday

2 3 4 5

8 9 10 11 12

15 16 Announce2 year4 year7 year

17 18Announce

52 week

22 23Auction

2 yearly

24Auction

4 yearly

25Auction

7 year-2y

26

29 30Auction

52 weeki/


\J Does not include weekly bills2J For settlement September 30_3/ For settlement in early October_4/ For settlement October 2

July 29. 1986-25

Documents

Coupon Maturities^ 4Coupon Refunding...April -June 1986 Increase in Cash Balance Uses Coupon Maturities^ Foreign Nonmarketables V/2 4Deficit u 91% Sources 4Coupon Refunding Savings