Greenbook/Tealbook

Prefatory Note The attached document represents the most complete and accurate version available based on original copies culled from the files of the FOMC Secretariat at the Board of Governors of the Federal Reserve System. This electronic document was created through a comprehensive digitization process which included identifying the bestpreserved paper copies, scanning those copies, 1 and then making the scanned versions text-searchable. 2 Though a stringent quality assurance process was employed, some imperfections may remain. Please note that some material may have been redacted from this document if that material was received on a confidential basis. Redacted material is indicated by occasional gaps in the text or by gray boxes around non-text content. All redacted passages are exempt from disclosure under applicable provisions of the Freedom of Information Act. 1 In some cases, original copies needed to be photocopied before being scanned into electronic format. All scanned images were deskewed (to remove the effects of printer- and scanner-introduced tilting) and lightly cleaned (to remove dark spots caused by staple holes, hole punches, and other blemishes caused after initial printing). 2 A two-step process was used. An advanced optical character recognition computer program (OCR) first created electronic text from the document image. Where the OCR results were inconclusive, staff checked and corrected the text as necessary. Please note that the numbers and text in charts and tables were not reliably recognized by the OCR process and were not checked or corrected by staff. Content last modified 6/05/2009. November 11, 1977 CONFIDENTIAL (FR) CLASS II - FOMC SUPPLEMENT CURRENT ECONOMIC AND FINANCIAL CONDITIONS Prepared for the Federal Open Market Committee By the Staff Board of Governors of the Federal Reserve System SUPPLEMENTAL NOTES The Domestic Nonfinancial Economy No textual addendums to the Greenbook were required. The Domestic Financial Situation A continuation of the rally begun in early November has raised most broad measures of stock prices above their levels at the time of the October FOMC meeting. The Dow Jones Industrial Average, as well as the New York Stock Exchange, American Stock Exchange and NASDAQ Composite indexes have increased 1 to 2 per cent on balance. The Dow Jones Utilities index has fallen slightly, however. Revisions and Corrections Page II - 4, lines 21 and 22: ments" and delete remainder of sentence. Put period after "disburse- -2INTEREST RATES (One day quotes--in per cent) 1977 1977 Highs Lows Oct. 17 6.58(11/9) 4.47(1/5) 6.50(10/19) 6.58(11/9) 6.36(10/13) 6.63(10/17) 6.68(10/13) 7.44(10/13) 4,39(4/28) 4.63(1/10) 4,66(1/3) 4.88(1/5) 6.28 6,63 6.65 7.25 6.13 6.56 6.64 7.19 6.63(10/13) 4.50(1/5) 6.63(10/12) 6.60(11/9) 6.55(10/13) 6.65(10/17) 4.54(1/3) 4.63(1/7) 6.52 6.65 6.42 6.60 6.92(11/9) 4.65(1/5) 6.75(10/12) 6.92(11/9) 6.64(10/13) 4.66(1/3) 6.62 6.52 7.02(10/12) 3.65(10/14) 5.00(1/5) 2.65(1/7) 7.02(10/12) 3.65(10/14) 7.00(11/9) 3.10p 7.26(10/17) 7.48(10/13) 7.80(5/11) 5.73(1/3) 6.50(1/3) 7.20(1/3) 7.26 7.45 7.73 7.23p 7.4 6 p 7.79p 8.13(3/14) 9.18(2/25) 8.34(5/18) 8.33(5/4) 7.87(1/5) 8.77(9/9) 7.90(1/5) 7.95(1/5) 8.05 8.89 8.20(10/14) 8.21(10/14) 8.10 8.95 8.30p 8.29p Municipal Bond Buyer Index 5.93(2/2) 5.48(9/8) 5.70(10/13) 5.51 Mortgage--average yields in FNMA auction 8.86(11/2) 8.46(1/12) 8.77(10/3) 8.86(11/2) Nov. 10 Short-term Rates Federal funds (wkly, avg.) 3-month Treasury bills (bid) Comm. paper (90-119 days) Bankers' acceptances Euro-dollars CD's (NYC) 90 days Most often quoted new 6-month Treasury bills (bid) Comm. paper (4-6 mos.) CD's (NYC) 180 days Most often quoted new 1-year Treasury bills (bid) CD's (NYC) Most often quoted new Prime municipals Intermediate- and Long-term Treasury (constant maturity) 3-year 7-year 20-year Corporate Seasoned Aaa Baa Aaa Utility New Issue Recently Offered 

Federal Reserve (1977, November 14). Greenbook/Tealbook. Greenbooks, Federal Reserve. https://whenthefedspeaks.com/doc/greenbook_19771115_part3

@misc{wtfs_greenbook_19771115_part3,
  author = {Federal Reserve},
  title = {Greenbook/Tealbook},
  year = {1977},
  month = {Nov},
  howpublished = {Greenbooks, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/greenbook_19771115_part3},
  note = {Retrieved via When the Fed Speaks corpus}
}