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$Bil.
100
80
60
40
20
0
TREASURY FINANCING REQUIREMENTSJuly — September 1986
Increase inCash Balance
Uses
Coupon Maturities ^
ForeignNonmarketables
Deficit y
105V4
Sources
^Coupon Refunding
Savings Bonds
3%
4
State and Local
Net Market vBorrowing m
-"Includes budget deficit, changes in checks outstanding, and minormiscellaneous debt transactions.
$Bil.
100
80
60
40
20
0
Department of the TreasuryOffice of Government Finance & Market Analysis October 28, 1986-19
$Bil
120-
100
80
60
40
TREASURY FINANCING REQUIREMENTSOctober — December 1986
Uses
Coupon Maturities^State and Local
Va
3/4
ForeignNonmarketables
| DeficitJ/
124V2Sources
^Coupon RefundingSavings Bonds
33/4
Net Market 571/2/Borrowing \
To BeDone
$Bil.
120
100
80
60
40
20
0
20 Done^
0
Department of the TreasuryOffice of Government Finance & Market Analysis
Decrease in •Cash Balance^1
u Includes budget deficit, changes in checks outstanding,and minor miscellaneous debt transactions.
& Issued or announced through October 24, 1986.
^Assumes a $15 billion cash balance December 31, 1986.October 28, 1986-20
TREASURY OPERATING CASH BALANCESemi-Monthly
4 Total Operating Balance
Tax and Loan
'k Accounts Balance
Federal Reserve Account
'fr^***
.Without New.Borrowingy
%••%
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec1985 1986
Department of the TreasuryOffice of Government Finance & Market Analysis
1/ Assumes refunding of maturing issues.
October 28, 1986-24
1»
^M
«^
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.
00
en
o>
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•nDoLU
_=1
=C
Mo
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)
21
CO
Eo
OO
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES$Bil. — — i$Bil-
30
25
20
15
10
5
0
—5
CD Savings BondsEZ9 State & Local Series
^M Foreign Nonmarketables
5.9
4.1 4-6
££ ii 1.5 Id 2-212.9
a zm
-2.0-2.5
-.6
10.7
1.7
&
16.2
2.6
mst
II III IV I II III IV I II III IV I II III IV I II III IVe1982 1983 1984 1985 1986
e estimate
30
25
20
15
10
5
0
—5
Department of the TreasuryOffice of Government Finance & Market Analysis
October 28, 1986-9
STATE AND LOCAL GOVERNMENT SERIES$Bil.
100
90
80
70
60
50
1976 1977 1978 1979
Department of the TreasuryOffice of Government Finance & Market Analysis
i. J_
1980 1981 1982
December 31
J.
October 31, 1986'estimate
-20
10
01983 1984 1985 1986
October 28, 1986-15
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONALHOLDINGS OF PUBLIC DEBT SECURITIES
$Bil.
15
10
0
-5
-10
Nonmarketable Marketable
1 032 Add-ons^
•1 Other Transactions
I-.5
u
I-6.5
II III IV I II III IV I II III IV I II III IV1982 1983 1984 1985
U F.R.B. purchases of marketable issues as agents for foreign and internationalmonetary authorities which are added to the announced amount of the issue.
^ Preliminary. * Lessthan $50 million.
I II lll^1986
$Bil.
15
10
0
-5
•10
Department of the TreasuryOffice of Government Finance & Market Analysis October 28, 1986-10
SHORT TERM INTEREST RATESQuarterly Averages
1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986
Department of the TreasuryOffice of Government Finance & Market Analysis
October 28, 1986-12
%
8
Commercial Paper\
••—••••••
6
SHORT TERM INTEREST RATESWeekly Averages
Federal Funds
•"•"...X
Throughweek ending
October 22
Prime Rate 1
%
8
-6
....»••—"*"w„..-
3 Month Treasury Bill'••••••••••###.#
-5
1 I I I 11 I I I II ll I I I 1 I 1 I II I I IJan Feb Mar Apr May Jun
1986
Department of the TreasuryOffice of Government Finance & Market Analysis
I I llJul
!_LAug Sep Oct
October 28, 1986-13
%
17
16
15
14
13
12
11
10
9
8
7
•••••v#
_L_L
, ••«,.•»*
LONG TERM MARKET RATESQuarterly Averages
New Aa ''••f /Corporatesi
New // \JConventional//
Mortgages//
1/1
%
1976 1977 1978 1979 1980 1981 1982 1983
1/ The 30 year Treasury series was initiated in March 1977.
2/ The 30 year Bond Buyer Index was started September 21, 1979
1984 1985 1986
Department of the TreasuryOffice of Government Finance & Market Analysis October 28, 1986-5
%
10
INTERMEDIATE AND LONG MARKET RATESWeekly Averages
Treasury 5-Year **>*/
Throughweek ending
October 24
%
10
8
Jan Feb Mar Apr May Jun
1986
Jul Aug Sep Oct
Department of the TreasuryOffice of Government Finance & Market Analysis October 28, 1986-14
MARKET YIELDS ON GOVERNMENTSBid Yields
%
g
L"'"" Jul
%
9
8
7
^^\ ""%
10
9
8
7
^^^^m
1%-10
-9 —
-8
8
7
'
^^^^^± ^ | | I I I I I I
6October 27, 1986
—6
—
5 1 0 12 14 16 18 20 22 24 26 28 30 - 6
9 10
Department of the TreasuryOffice of Government Finance & Market Analysis
4 5 6
Years to Maturity
8
October 28, 1986-25
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT
BY MATURITY
1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985
Department of the TreasuryOffice of Government Finance & Market Analysis
As of December 31October 28, 1986-7
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTBY MATURITY
100%
Coupons H Over 10 years
a 2-10 years
1-2 years Bills
1 year & under
1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 Sep'86As of December 31
Department of the TreasuryOffice of Government Finance & Market Analysis October 28, 1986-8
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
Department of the TreasuryOffice of Government Finance & Market Analysts October 28, 1986-6
$Bil.
140
120
100
80
60
STRIPS PROGRAM
^ Eligible Issues
-—Amount Stripped
J J A S O N
1985*as of October 22, 1986
Department of the TreasuryOffice of Government Finance & Market Analysis
M A M J J A
1986
0S O*
October 28,1986-22
STRIPS PROGRAM
Security Issue Date Total Issued Amount Stripped$ Millions as of 10/22/86
11 5/8% 11 / 15/94 11 / 15/84 6,659 1,421
11 1/4% 2/15/95 2/15/85 6,934 1,260
11 1/4% 5/15/95 5/15/85 7,127 2,152
10 1/2% 8/15/95 8/15/85 7,956 1,026
9 1/2% 11/15/95 11 /15/85 7,318 535
8 7/8% 2/15/96 2/15/86 8,471 34
7 3/8% 5/15/96 5/15/86 20,085 0
11 5/8% 11 / 15/04 10 / 30 / 84 8,302 6,026
12% 5/15/05 4/ 2/85 4,261 2,058
10 3/4% 8/15/05 7/ 2/85 9,270 819
9 3/8% 2/15/06 1/15/86 4,756 0
11 3/4% 11/15/ 14 11 / 15/84 6,006 3,422
11 1/4% 2/15/15 2/15/85 12,668 8,470
10 5/8% 8/15/15 8/15/85 7,150 3,754
9 7/8% 11/15/15 11 /15/85 6,900 251
9 1/4% 2/15/16 2/15/86 7,267 11
7 1/4% 5/15/16 5/15/86 18,823 0
149,953 31,239
Department of the TreasuryOffice of Government Finance & Market Analysis
October 28, 1986-23
MATURING COUPON ISSUESNovember 1986 — March 1987
(In millions of dollars)
Maturing Issues
September 30, 1986
Total
Held by
Federal Reserve
& Government
Accounts
Private
Investors
ForeignInvestors J/
13 7/8% Note 11/15/86
16 1/8% Note 11/15/86
11% Note 11/15/86
6 1/8% Bond 11/15/86
10 3/8% Note 11/30/86
9 7/8% Note 12/31/86
10% Note 12/31/86
9 3/4% Note 1/31/87
9% Note 2/15/87
12 3/4% Note 2/15/87
10 7/8% Note 2/15/87
10% Note 2/28/87
10 3/4% Note 3/31/87
10 1/4% Note 3/31/87
3,2063,4697,6501,196
10,05210,112
5,90810,212
6,2383,4379,166
10,08710,349
6,522
97
277
1,126614
559
600
342
724
1,66947
2,415645
836
315
3,1093,1926,524
582
9,4939,5125,5669,4884,5693,3906,7519,4429,5136,207
792
171
463
28
1,284743
310
1,325534
37
635
734
713
1,080
Totals 97,604 10,266 87,338 8,849
u F.R.B. custody accounts for foreign official institutions;included in Private Investors.
Department of the TreasuryOffice of Government Finance & Market Analysis
October 28, 1986-18
TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills
$Bil. p16141210
86420
20 h1816p-141210
86420
1816h141210
86420
12108h6420
14.7
12.4
7^10.0
15.7 1987
I 12.6 ^16°9-5 K39.4 % 9.5 Ki9-8
ill J
15.6 15.8
„.. 13.7 ^108„, 1 88™ |
J. IS? 19'8?B5 ^ ™is.a ^ *™16.5 149
9.9^10.1 10.3%10 6 1°-8.l
2
6.4
-2.7 I 03.1VM I
_3.3
-4.8
155 r™ 1989 16.2
6.6 '% 7.0
I III III8.3
I7.5 7 .J
1990 io-8
I42I
10.3
6.9 H« 7.3
7.6 B3 7-9 |12.8
I I50 ^ 14.9 % 15.0 ^
ll ill 1 • IJFMAMJJASOND
^| Securities issued prior to 1984£222 New issues calendar year 1984
Department of the TreasuryOffice of Government Finance & Market Analysis
$Bil.10
8642086420
121-10
5.5
5.7
tl
7.5
2.6
Si 1991 ^9.9
5.4 M I 5.2
8 5 1992
I6.3
i i1993
10.7
5.7
6.3
V/ 4.1
1 I• 12.0
8 -6.5 6.4
et°l6.5
4.7
6.87.6
I7.0
420
6420
*: i0'
18r16141210
86420
2.9
8.2
53 1994 ss72
9.1 1995 t|
i1861996
7.2
8.6
JFMAMJJASOND
New issues calendar year 1985
Issued or announced through October 24, 1986
October 28, 1986-2
$Bil.2
02020202020642086420
1086420420
20
20
20
.2.2
1.5
1.7
2.9
4.8
.2.7
TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills
$Bil.
1997
1998
1999
2000 • 2.5
2.4li 2001 m
3.2
3.6
Vs.
6.3
2002
2003
2004
2005
2006
2007
2008
•39 2009
3.5
4.0
9.3
1
1.4
1.6
• 2.6
17.2
8.3
1
1.2
.3.6
.3.4
20
20
86420
1086420420
1086420
1816141210
8642
0
1.8
511.8
70
1.9 2010
I37 2011
2012
2013
4.8 2014
2015
180 2016
• 4.0
14.4
• 10.3
,12.6
r r
6.56.8
FMAMJ JASOND
•I Securities issued prior to 1984
E£2 New issues calendar year 1984Department of the TreasuryOffice of Government Finance & Market Analysis
LJFMAMJJASOND
New issues calendar year 1985
SH Issued or announced through October 24, 1986October 28, 19
$Bil.2
0
-2
-4
24
22
20
18
16
14
12
10
8
6
4
2
0
NET NEW MONEY IN AGENCY FINANCE, QUARTERLYPrivately Held
$Bil.
_l_FFCB
• • •"•F
I II III IV I II III IV I II ill IV I ll III IV I II III6 IV
1982 1983 1984 1985 1986
*Less than $50 million.
14
12
10
8
6
4
2
0
FNMA
I
I II III IV I II III IV I II III IV I II III IV
1982 1983 1984 1985
e Partly estimated.
II llleIV
1986
Department of the Treasury -1/ Includes FHLB discount notes, bonds, and FHLMC discount notes, debentures,office of Government Finance &Market Analysis certificates, mortgage-backed bonds, and mortgage participation certificates. October 28, 1986-21
SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN NOVEMBER 1986^
Monday Tuesday Wednesday Thursday Friday
3Auction
3 year-^Auction
10 year-?/
6 A ♦■Auction
30 year 11
7
10 11
Holiday
12Announce
2 year
13 14Announce
52 week
17 18Announce
5 year
19Auction
2 year 3/
Auction
52 week 4/
21
24 25 26Auction
5 year 5/
27
Holiday
28
Department of the TreasuryOffice of Government Finance & Market Analysis
J_/ Does not include weekly bills2/ For settlement November 173/ For settlement December 1AJ For settlement November 285J For settlement in early December
October 28, 1986-16
SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN DECEMBER 19861
Monday Tuesday Wednesday Thursday Friday
1 2 3 4 5
8 9 10 Announce2 year4 year
11 12Announce
52 week
15 16 AAnnounce
7 year
17 A ♦•Auction
2 year^
18 . .Auction
4 year-27
19
22 23 » •Auction
52 week^
24 25
Holiday26
29 30Auction
7 year47
31
Department of the TreasuryOffice of Government Finance & Market Analysis
\J Does not include weekly bills2J For settlement December 313/ For settlement December 26
AJ For settlement in early January
October 28, 1986-27