Annual Report 2012 - Accessible Version

Maps of the Federal Reserve System

These maps show the boundaries of the twelve Federal Reserve Districts, the location of the Reserve Bank (and any Branch or Branches) within each District, and the Washington, D.C., location of the Board of Governors. Following is a list of the twelve Districts, by number and letter; the city in which the Reserve Bank is located; the states within the District; and the location of any Branch or Branches of the Reserve Bank.
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District 1-A, Boston. Encompasses Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut (excluding Fairfield County). No Branches.
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District 2-B, New York. Encompasses New York State, twelve counties in northern New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. No Branches.
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District 3-C, Philadelphia. Encompasses eastern Pennsylvania, southern New Jersey, and all of Delaware. No Branches.
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District 4-D, Cleveland. Encompasses Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. Branches in Pittsburgh and Cincinnati.
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District 5-E, Richmond. Encompasses Maryland, Virginia, North Carolina, South Carolina, and most of West Virginia. Branches in Baltimore and Charlotte.
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District 6-F, Atlanta. Encompasses Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee. Branches in Nashville, Birmingham, Jacksonville, Miami, and New Orleans.
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District 7-G, Chicago. Encompasses Iowa and most of Illinois, Indiana, Michigan, and Wisconsin. Branch in Detroit.
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District 8-H, St. Louis. Encompasses Arkansas and portions of Missouri, Mississippi, Tennessee, Kentucky, Indiana, and Illinois. Branches in Louisville, Memphis, and Little Rock.
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District 9-I, Minneapolis. Encompasses Minnesota, Montana, North Dakota, South Dakota, twenty-six counties in northwestern Wisconsin, and the Upper Peninsula of Michigan. Branch in Helena.
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District 10-J, Kansas City. Encompasses Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico, and Western Missouri. Branches in Omaha, Denver, and Oklahoma City.
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District 11-K, Dallas. Encompasses Texas, northern Louisiana, and southern New Mexico. Branches in El Paso, San Antonio, and Houston.
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District 12-L, San Francisco. Encompasses Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, Washington, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. Branches in Seattle, Portland, Salt Lake City, and Los Angeles.
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Figure 1. Change in Real Gross Domestic Product, 2006-12

Percent, annual rate

Period Change in real GDP
2006 2.38
2007 2.21
2008 -3.32
2009 -0.08
2010 2.39
2011:H1 1.27
2011:H2 2.68
2012:H1 1.61
2012:H2 1.47

Note: Here and in subsequent figures, except as noted, change for a given period is measured to its final quarter from the final quarter of the preceding period.

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 2. Net change in payroll employment, 2006-13

Thousands of jobs

Period Total nonfarm Private
January 2006 255.67 249.67
February 2006 249.33 243.00
March 2006 290.00 282.00
April 2006 259.00 235.00
May 2006 160.67 144.67
June 2006 94.00 87.67
July 2006 103.67 85.67
August 2006 156.33 128.00
September 2006 182.67 129.33
October 2006 111.67 80.00
November 2006 120.33 96.33
December 2006 123.67 121.67
January 2007 202.67 193.67
February 2007 164.33 148.33
March 2007 170.00 149.67
April 2007 117.33 90.67
May 2007 134.33 113.67
June 2007 99.00 79.67
July 2007 62.00 63.33
August 2007 7.00 -4.00
September 2007 6.00 -18.00
October 2007 46.33 4.33
November 2007 91.33 55.33
December 2007 26.67 64.33
January 2008 72.67 42.33
February 2008 7.33 -20.33
March 2008 -50.00 -72.33
April 2008 -126.33 -147.00
May 2008 -160.00 -182.00
June 2008 -190.00 -214.67
July 2008 -190.33 -229.67
August 2008 -218.33 -246.33
September 2008 -315.00 -321.67
October 2008 -400.33 -394.00
November 2008 -568.67 -566.33
December 2008 -650.67 -657.00
January 2009 -758.00 -769.33
February 2009 -731.33 -738.00
March 2009 -773.00 -775.00
April 2009 -743.00 -775.00
May 2009 -628.67 -640.33
June 2009 -509.33 -517.00
July 2009 -391.67 -337.33
August 2009 -344.33 -315.33
September 2009 -264.67 -222.00
October 2009 -204.33 -205.67
November 2009 -141.33 -143.00
December 2009 -137.00 -144.67
January 2010 -84.67 -72.67
February 2010 -91.00 -70.00
March 2010 33.67 22.67
April 2010 114.33 85.00
May 2010 301.33 127.67
June 2010 206.67 122.00
July 2010 101.67 99.67
August 2010 -84.33 108.67
September 2010 -55.33 115.00
October 2010 49.33 143.33
November 2010 109.67 151.67
December 2010 155.67 152.00
January 2011 102.67 116.00
February 2011 120.00 145.67
March 2011 156.67 182.00
April 2011 235.00 256.33
May 2011 208.00 236.33
June 2011 209.33 221.00
July 2011 134.00 188.67
August 2011 139.67 170.67
September 2011 145.00 197.00
October 2011 174.33 186.33
November 2011 188.33 209.00
December 2011 190.00 206.67
January 2012 238.33 256.33
February 2012 270.67 279.00
March 2012 262.33 265.33
April 2012 196.00 197.67
May 2012 147.33 160.00
June 2012 108.00 116.67
July 2012 121.67 135.67
August 2012 135.00 128.67
September 2012 152.00 142.00
October 2012 154.33 155.33
November 2012 181.67 197.00
December 2012 201.00 225.00
January 2013 200.00 208.00

Note: The data are three-month moving averages and extend through January 2013.

Source: Department of Labor, Bureau of Labor Statistics.

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Figure 3. Civilian unemployment rate, 1979-2013

Percent

Period Percent
January 1979 5.9
February 1979 5.9
March 1979 5.8
April 1979 5.8
May 1979 5.6
June 1979 5.7
July 1979 5.7
August 1979 6.0
September 1979 5.9
October 1979 6.0
November 1979 5.9
December 1979 6.0
January 1980 6.3
February 1980 6.3
March 1980 6.3
April 1980 6.9
May 1980 7.5
June 1980 7.6
July 1980 7.8
August 1980 7.7
September 1980 7.5
October 1980 7.5
November 1980 7.5
December 1980 7.2
January 1981 7.5
February 1981 7.4
March 1981 7.4
April 1981 7.2
May 1981 7.5
June 1981 7.5
July 1981 7.2
August 1981 7.4
September 1981 7.6
October 1981 7.9
November 1981 8.3
December 1981 8.5
January 1982 8.6
February 1982 8.9
March 1982 9.0
April 1982 9.3
May 1982 9.4
June 1982 9.6
July 1982 9.8
August 1982 9.8
September 1982 10.1
October 1982 10.4
November 1982 10.8
December 1982 10.8
January 1983 10.4
February 1983 10.4
March 1983 10.3
April 1983 10.2
May 1983 10.1
June 1983 10.1
July 1983 9.4
August 1983 9.5
September 1983 9.2
October 1983 8.8
November 1983 8.5
December 1983 8.3
January 1984 8.0
February 1984 7.8
March 1984 7.8
April 1984 7.7
May 1984 7.4
June 1984 7.2
July 1984 7.5
August 1984 7.5
September 1984 7.3
October 1984 7.4
November 1984 7.2
December 1984 7.3
January 1985 7.3
February 1985 7.2
March 1985 7.2
April 1985 7.3
May 1985 7.2
June 1985 7.4
July 1985 7.4
August 1985 7.1
September 1985 7.1
October 1985 7.1
November 1985 7.0
December 1985 7.0
January 1986 6.7
February 1986 7.2
March 1986 7.2
April 1986 7.1
May 1986 7.2
June 1986 7.2
July 1986 7.0
August 1986 6.9
September 1986 7.0
October 1986 7.0
November 1986 6.9
December 1986 6.6
January 1987 6.6
February 1987 6.6
March 1987 6.6
April 1987 6.3
May 1987 6.3
June 1987 6.2
July 1987 6.1
August 1987 6.0
September 1987 5.9
October 1987 6.0
November 1987 5.8
December 1987 5.7
January 1988 5.7
February 1988 5.7
March 1988 5.7
April 1988 5.4
May 1988 5.6
June 1988 5.4
July 1988 5.4
August 1988 5.6
September 1988 5.4
October 1988 5.4
November 1988 5.3
December 1988 5.3
January 1989 5.4
February 1989 5.2
March 1989 5.0
April 1989 5.2
May 1989 5.2
June 1989 5.3
July 1989 5.2
August 1989 5.2
September 1989 5.3
October 1989 5.3
November 1989 5.4
December 1989 5.4
January 1990 5.4
February 1990 5.3
March 1990 5.2
April 1990 5.4
May 1990 5.4
June 1990 5.2
July 1990 5.5
August 1990 5.7
September 1990 5.9
October 1990 5.9
November 1990 6.2
December 1990 6.3
January 1991 6.4
February 1991 6.6
March 1991 6.8
April 1991 6.7
May 1991 6.9
June 1991 6.9
July 1991 6.8
August 1991 6.9
September 1991 6.9
October 1991 7.0
November 1991 7.0
December 1991 7.3
January 1992 7.3
February 1992 7.4
March 1992 7.4
April 1992 7.4
May 1992 7.6
June 1992 7.8
July 1992 7.7
August 1992 7.6
September 1992 7.6
October 1992 7.3
November 1992 7.4
December 1992 7.4
January 1993 7.3
February 1993 7.1
March 1993 7.0
April 1993 7.1
May 1993 7.1
June 1993 7.0
July 1993 6.9
August 1993 6.8
September 1993 6.7
October 1993 6.8
November 1993 6.6
December 1993 6.5
January 1994 6.6
February 1994 6.6
March 1994 6.5
April 1994 6.4
May 1994 6.1
June 1994 6.1
July 1994 6.1
August 1994 6.0
September 1994 5.9
October 1994 5.8
November 1994 5.6
December 1994 5.5
January 1995 5.6
February 1995 5.4
March 1995 5.4
April 1995 5.8
May 1995 5.6
June 1995 5.6
July 1995 5.7
August 1995 5.7
September 1995 5.6
October 1995 5.5
November 1995 5.6
December 1995 5.6
January 1996 5.6
February 1996 5.5
March 1996 5.5
April 1996 5.6
May 1996 5.6
June 1996 5.3
July 1996 5.5
August 1996 5.1
September 1996 5.2
October 1996 5.2
November 1996 5.4
December 1996 5.4
January 1997 5.3
February 1997 5.2
March 1997 5.2
April 1997 5.1
May 1997 4.9
June 1997 5.0
July 1997 4.9
August 1997 4.8
September 1997 4.9
October 1997 4.7
November 1997 4.6
December 1997 4.7
January 1998 4.6
February 1998 4.6
March 1998 4.7
April 1998 4.3
May 1998 4.4
June 1998 4.5
July 1998 4.5
August 1998 4.5
September 1998 4.6
October 1998 4.5
November 1998 4.4
December 1998 4.4
January 1999 4.3
February 1999 4.4
March 1999 4.2
April 1999 4.3
May 1999 4.2
June 1999 4.3
July 1999 4.3
August 1999 4.2
September 1999 4.2
October 1999 4.1
November 1999 4.1
December 1999 4.0
January 2000 4.0
February 2000 4.1
March 2000 4.0
April 2000 3.8
May 2000 4.0
June 2000 4.0
July 2000 4.0
August 2000 4.1
September 2000 3.9
October 2000 3.9
November 2000 3.9
December 2000 3.9
January 2001 4.2
February 2001 4.2
March 2001 4.3
April 2001 4.4
May 2001 4.3
June 2001 4.5
July 2001 4.6
August 2001 4.9
September 2001 5.0
October 2001 5.3
November 2001 5.5
December 2001 5.7
January 2002 5.7
February 2002 5.7
March 2002 5.7
April 2002 5.9
May 2002 5.8
June 2002 5.8
July 2002 5.8
August 2002 5.7
September 2002 5.7
October 2002 5.7
November 2002 5.9
December 2002 6.0
January 2003 5.8
February 2003 5.9
March 2003 5.9
April 2003 6.0
May 2003 6.1
June 2003 6.3
July 2003 6.2
August 2003 6.1
September 2003 6.1
October 2003 6.0
November 2003 5.8
December 2003 5.7
January 2004 5.7
February 2004 5.6
March 2004 5.8
April 2004 5.6
May 2004 5.6
June 2004 5.6
July 2004 5.5
August 2004 5.4
September 2004 5.4
October 2004 5.5
November 2004 5.4
December 2004 5.4
January 2005 5.3
February 2005 5.4
March 2005 5.2
April 2005 5.2
May 2005 5.1
June 2005 5.0
July 2005 5.0
August 2005 4.9
September 2005 5.0
October 2005 5.0
November 2005 5.0
December 2005 4.9
January 2006 4.7
February 2006 4.8
March 2006 4.7
April 2006 4.7
May 2006 4.6
June 2006 4.6
July 2006 4.7
August 2006 4.7
September 2006 4.5
October 2006 4.4
November 2006 4.5
December 2006 4.4
January 2007 4.6
February 2007 4.5
March 2007 4.4
April 2007 4.5
May 2007 4.4
June 2007 4.6
July 2007 4.7
August 2007 4.6
September 2007 4.7
October 2007 4.7
November 2007 4.7
December 2007 5.0
January 2008 5.0
February 2008 4.9
March 2008 5.1
April 2008 5.0
May 2008 5.4
June 2008 5.6
July 2008 5.8
August 2008 6.1
September 2008 6.1
October 2008 6.5
November 2008 6.8
December 2008 7.3
January 2009 7.8
February 2009 8.3
March 2009 8.7
April 2009 9.0
May 2009 9.4
June 2009 9.5
July 2009 9.5
August 2009 9.6
September 2009 9.8
October 2009 10.0
November 2009 9.9
December 2009 9.9
January 2010 9.8
February 2010 9.8
March 2010 9.8
April 2010 9.9
May 2010 9.6
June 2010 9.4
July 2010 9.5
August 2010 9.5
September 2010 9.5
October 2010 9.5
November 2010 9.8
December 2010 9.3
January 2011 9.1
February 2011 9.0
March 2011 8.9
April 2011 9.0
May 2011 9.0
June 2011 9.1
July 2011 9.0
August 2011 9.0
September 2011 9.0
October 2011 8.9
November 2011 8.6
December 2011 8.5
January 2012 8.3
February 2012 8.3
March 2012 8.2
April 2012 8.1
May 2012 8.2
June 2012 8.2
July 2012 8.2
August 2012 8.1
September 2012 7.8
October 2012 7.9
November 2012 7.8
December 2012 7.8
January 2013 7.9

Note: The data are monthly and extend through January 2013.

Source: Department of Labor, Bureau of Labor Statistics.

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Figure 4. Change in the chain-type price index for personal consumption expenditures, 2006-2012

Percent

Period Total Excluding food and energy
January 2006 3.30 2.15
February 2006 3.03 2.06
March 2006 2.86 2.06
April 2006 2.96 2.21
May 2006 3.25 2.24
June 2006 3.38 2.37
July 2006 3.27 2.36
August 2006 3.20 2.51
September 2006 1.89 2.40
October 2006 1.47 2.33
November 2006 1.86 2.21
December 2006 2.28 2.27
January 2007 2.13 2.50
February 2007 2.46 2.58
March 2007 2.70 2.44
April 2007 2.53 2.30
May 2007 2.57 2.19
June 2007 2.54 2.14
July 2007 2.39 2.20
August 2007 2.07 2.12
September 2007 2.67 2.21
October 2007 3.20 2.25
November 2007 3.63 2.38
December 2007 3.55 2.46
January 2008 3.55 2.29
February 2008 3.41 2.18
March 2008 3.36 2.32
April 2008 3.46 2.37
May 2008 3.59 2.47
June 2008 4.06 2.52
July 2008 4.44 2.50
August 2008 4.28 2.46
September 2008 4.00 2.35
October 2008 3.17 2.16
November 2008 1.38 2.01
December 2008 0.56 1.77
January 2009 0.35 1.60
February 2009 0.35 1.56
March 2009 -0.12 1.41
April 2009 -0.32 1.44
May 2009 -0.62 1.32
June 2009 -0.59 1.28
July 2009 -1.10 1.20
August 2009 -0.71 1.22
September 2009 -0.65 1.24
October 2009 0.21 1.51
November 2009 1.67 1.58
December 2009 2.27 1.63
January 2010 2.40 1.71
February 2010 2.23 1.74
March 2010 2.53 1.87
April 2010 2.42 1.71
May 2010 2.29 1.73
June 2010 1.66 1.65
July 2010 1.79 1.64
August 2010 1.65 1.59
September 2010 1.60 1.47
October 2010 1.50 1.21
November 2010 1.37 1.18
December 2010 1.52 1.08
January 2011 1.55 1.13
February 2011 1.82 1.16
March 2011 2.05 1.09
April 2011 2.37 1.24
May 2011 2.61 1.35
June 2011 2.69 1.43
July 2011 2.77 1.55
August 2011 2.84 1.62
September 2011 2.87 1.57
October 2011 2.62 1.61
November 2011 2.59 1.68
December 2011 2.42 1.86
January 2012 2.42 1.93
February 2012 2.42 1.92
March 2012 2.25 1.96
April 2012 1.93 1.88
May 2012 1.50 1.75
June 2012 1.49 1.76
July 2012 1.32 1.68
August 2012 1.44 1.53
September 2012 1.60 1.54
October 2012 1.74 1.58
November 2012 1.44 1.49
December 2012 1.32 1.35

Note: The data are monthly and extend through December 2012; changes are from one year earlier.

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 5. Prices of oil and nonfuel commodities, 2008-13

Period Oil (dollars per barrel) Nonfuel commodities (December 2006 = 100)
January 2008 93.65 114.41
February 2008 96.17 122.27
March 2008 103.30 127.13
April 2008 110.39 126.12
May 2008 123.51 125.04
June 2008 133.37 126.84
July 2008 134.27 127.18
August 2008 114.95 119.12
September 2008 100.06 112.51
October 2008 72.43 95.26
November 2008 53.91 88.26
December 2008 40.92 82.93
January 2009 43.88 86.98
February 2009 43.44 85.09
March 2009 46.77 83.89
April 2009 50.30 87.67
May 2009 57.18 93.14
June 2009 69.00 96.86
July 2009 64.85 97.64
August 2009 72.87 103.11
September 2009 67.92 99.70
October 2009 72.89 101.58
November 2009 76.77 106.30
December 2009 74.44 110.17
January 2010 76.34 113.19
February 2010 73.70 111.34
March 2010 79.08 115.56
April 2010 84.89 122.58
May 2010 76.25 116.64
June 2010 74.97 112.19
July 2010 76.12 113.86
August 2010 78.17 120.82
September 2010 78.51 123.78
October 2010 83.63 130.47
November 2010 85.73 133.86
December 2010 92.18 141.37
January 2011 97.37 148.19
February 2011 102.98 153.74
March 2011 114.04 151.13
April 2011 123.18 154.68
May 2011 115.25 149.40
June 2011 114.33 146.47
July 2011 116.57 147.02
August 2011 110.12 144.34
September 2011 110.75 139.77
October 2011 108.53 129.45
November 2011 110.76 126.32
December 2011 108.10 124.05
January 2012 111.53 127.30
February 2012 118.29 131.02
March 2012 124.50 132.36
April 2012 120.66 132.11
May 2012 111.53 127.76
June 2012 96.43 124.92
July 2012 102.16 129.94
August 2012 112.37 127.87
September 2012 113.35 128.60
October 2012 111.80 127.95
November 2012 109.32 126.85
December 2012 109.29 129.88
January 2013 112.04 132.47
February 2013 117.27 ND

Note: The data are monthly. The oil price is the spot price of Brent crude oil, and the last observation is the average for February 1-21, 2013. The price of nonfuel commodities is an index of 45 primary-commodity prices and extends through January 2013.

Source: For oil, the Commodity Research Bureau; for nonfuel commodities, International Monetary Fund.

ND No data.

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Figure 6. Median inflation expectations, 2001-13

SPF Expectations for Next 10 Years

Period Percent
2007:Q1 2.00
2007:Q2 2.00
2007:Q3 2.10
2007:Q4 2.10
2008:Q1 2.20
2008:Q2 2.20
2008:Q3 2.20
2008:Q4 2.20
2009:Q1 2.20
2009:Q2 2.28
2009:Q3 2.15
2009:Q4 2.10
2010:Q1 2.10
2010:Q2 2.15
2010:Q3 2.11
2010:Q4 2.00
2011:Q1 2.10
2011:Q2 2.27
2011:Q3 2.25
2011:Q4 2.16
2012:Q1 2.15
2012:Q2 2.20
2012:Q3 2.20
2012:Q4 2.10
2013:Q1 2.00

Note: The data are quarterly and extend from 2007:Q1 through 2013:Q1.

Source: Survey of Professional Forecasters (SPF).

Michigan Survey Expectations for Next 5 to 10 Years

Period Percent
January 2001 2.9
February 2001 3.0
March 2001 3.0
April 2001 3.1
May 2001 3.0
June 2001 3.0
July 2001 2.9
August 2001 3.0
September 2001 2.9
October 2001 2.7
November 2001 2.8
December 2001 3.0
January 2002 2.7
February 2002 2.8
March 2002 2.8
April 2002 2.8
May 2002 3.0
June 2002 2.8
July 2002 2.8
August 2002 2.9
September 2002 2.5
October 2002 2.8
November 2002 2.8
December 2002 2.8
January 2003 2.7
February 2003 2.7
March 2003 2.8
April 2003 2.7
May 2003 2.8
June 2003 2.7
July 2003 2.7
August 2003 2.7
September 2003 2.7
October 2003 2.8
November 2003 2.7
December 2003 2.8
January 2004 2.8
February 2004 2.9
March 2004 2.9
April 2004 2.7
May 2004 2.8
June 2004 2.9
July 2004 2.8
August 2004 2.7
September 2004 2.8
October 2004 2.8
November 2004 2.7
December 2004 2.8
January 2005 2.7
February 2005 2.8
March 2005 2.9
April 2005 3.0
May 2005 2.9
June 2005 2.8
July 2005 2.9
August 2005 2.8
September 2005 3.1
October 2005 3.2
November 2005 3.0
December 2005 3.1
January 2006 2.9
February 2006 2.9
March 2006 2.9
April 2006 3.1
May 2006 3.2
June 2006 2.9
July 2006 2.9
August 2006 3.2
September 2006 3.0
October 2006 3.1
November 2006 3.0
December 2006 3.0
January 2007 3.0
February 2007 2.9
March 2007 2.9
April 2007 3.1
May 2007 3.1
June 2007 2.9
July 2007 3.1
August 2007 2.9
September 2007 2.9
October 2007 2.8
November 2007 2.9
December 2007 3.1
January 2008 3.0
February 2008 3.0
March 2008 2.9
April 2008 3.2
May 2008 3.4
June 2008 3.4
July 2008 3.2
August 2008 3.2
September 2008 3.0
October 2008 2.9
November 2008 2.9
December 2008 2.6
January 2009 2.9
February 2009 3.1
March 2009 2.6
April 2009 2.8
May 2009 2.9
June 2009 3.0
July 2009 3.0
August 2009 2.8
September 2009 2.8
October 2009 2.9
November 2009 3.0
December 2009 2.7
January 2010 2.9
February 2010 2.7
March 2010 2.7
April 2010 2.7
May 2010 2.9
June 2010 2.8
July 2010 2.9
August 2010 2.8
September 2010 2.7
October 2010 2.8
November 2010 2.8
December 2010 2.8
January 2011 2.9
February 2011 2.9
March 2011 3.2
April 2011 2.9
May 2011 2.9
June 2011 3.0
July 2011 2.9
August 2011 2.9
September 2011 2.8
October 2011 2.7
November 2011 2.7
December 2011 2.7
January 2012 2.7
February 2012 2.9
March 2012 3.0
April 2012 2.9
May 2012 2.7
June 2012 2.8
July 2012 2.7
August 2012 3.0
September 2012 2.8
October 2012 2.7
November 2012 2.8
December 2012 2.9
January 2013 2.9
February 2013 3.0

Note: The data are monthly and extend from January 2001 through a preliminary estimate for February 2013.

Source: Thomson Reuters/University of Michigan Surveys of Consumers.

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Figure 7. Inflation compensation, 2004-13

Series: Inflation compensation, 5-year (carry adjusted) and 5 to 10 years ahead

Horizon: 2004 to 2013

Description: Data are plotted as two curves. Units are percent. The curves cross at various points in 2005. There is a horizontal zero line.

The 5-year (carry adjusted) series starts at the beginning of 2004 around 2 and steadily increases to around 2.5 by mid-2004 before declining slightly over Q3 and then increasing to around 2.5 by the end of 2004. The series generally remains around this level until early 2008, when it falls slightly to around 1.8; by mid-2008, it increases to around 2.5. It then falls to about negative 1.5 over the second half of 2008 and finishes the year at about negative 1. The series gradually increases in 2009; it returns to positive in early 2009 and, after briefly dipping slightly below 0, reaches about 1.5 by mid-2009, ending the year around 2. In 2010, the series generally falls through the first three quarters to about 1 but ends the year at around 1.9. In early 2011, the series rises slightly to about 2.25 and then falls to about 1.5 by Q3. It ends the year at around 1.75. In early 2012, the series increases to around 2 before decreasing to about 1.75 and then generally rising to end the year at around 2.5. It remains around this level until the series ends in early 2013.

The 5-to-10-years-ahead series starts at the beginning of 2004 at around 3 and falls gradually to about 2.8 in Q1 before rising to about 3.3 by mid-2004. It then falls to about 2.75 by Q3 and ends 2004 at about 3. It falls to around 2.5 by mid-2005 and generally remains at that level until around late 2008, when it first jumps to about 3.5 before quickly falling to about 2 by the end of 2008. The series generally increases through 2009 and ends the year around 3.25. In 2010, the series gradually falls to about 2 by Q3 and then increases slightly to end the year around 3. In early 2011, the series falls to just under 3, is about 2.3 by Q3, and ends the year at around 2.5. The series generally rises in 2012 and ends just under 3. It remains around this level until the series ends in early 2013.

Note: The data are weekly averages of daily data and extend through February 15, 2013. Inflation compensation is the difference between yields on nominal Treasury securities and Treasury inflation-protected securities (TIPS) of comparable maturities, based on yield curves fitted to off-the-run nominal Treasury securities and on- and off-the-run TIPS. The 5-year measure is adjusted for the effect of indexation lags.

Source: Federal Reserve Bank of New York; Barclays; Federal Reserve Board staff estimates.

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Figure 8. Change in real personal consumption expenditures and disposable personal income, 2006-12

Percent, annual rate

Period Change in real PCE Change in real DPI
2006 3.19 4.38
2007 1.68 1.53
2008 -2.54 0.54
2009 -0.34 -2.33
2010 2.91 3.32
2011:H1 2.05 1.40
2011:H2 1.84 -0.71
2012:H1 1.97 2.97
2012:H2 1.87 3.62

Note: The data are quarterly and extend through 2012:Q4.

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 9. Private housing starts, 1999-2013

Millions of units, annual rate

Period Single-family Multifamily
January 1999 1.35 0.40
February 1999 1.32 0.35
March 1999 1.35 0.37
April 1999 1.22 0.33
May 1999 1.31 0.30
June 1999 1.27 0.29
July 1999 1.31 0.36
August 1999 1.27 0.38
September 1999 1.29 0.35
October 1999 1.31 0.30
November 1999 1.32 0.33
December 1999 1.38 0.33
January 2000 1.27 0.37
February 2000 1.26 0.48
March 2000 1.31 0.29
April 2000 1.28 0.35
May 2000 1.23 0.35
June 2000 1.20 0.36
July 2000 1.14 0.32
August 2000 1.23 0.31
September 2000 1.20 0.31
October 2000 1.24 0.31
November 2000 1.21 0.34
December 2000 1.23 0.31
January 2001 1.28 0.33
February 2001 1.28 0.35
March 2001 1.22 0.37
April 2001 1.31 0.34
May 2001 1.29 0.32
June 2001 1.30 0.34
July 2001 1.30 0.37
August 2001 1.29 0.28
September 2001 1.24 0.32
October 2001 1.24 0.30
November 2001 1.24 0.36
December 2001 1.29 0.28
January 2002 1.31 0.37
February 2002 1.49 0.33
March 2002 1.28 0.37
April 2002 1.28 0.31
May 2002 1.39 0.36
June 2002 1.36 0.35
July 2002 1.33 0.34
August 2002 1.25 0.38
September 2002 1.45 0.36
October 2002 1.37 0.29
November 2002 1.40 0.36
December 2002 1.46 0.35
January 2003 1.54 0.32
February 2003 1.30 0.33
March 2003 1.40 0.33
April 2003 1.37 0.27
May 2003 1.39 0.36
June 2003 1.51 0.35
July 2003 1.54 0.36
August 2003 1.48 0.35
September 2003 1.56 0.38
October 2003 1.63 0.34
November 2003 1.69 0.39
December 2003 1.65 0.41
January 2004 1.56 0.35
February 2004 1.48 0.37
March 2004 1.63 0.37
April 2004 1.65 0.36
May 2004 1.65 0.33
June 2004 1.53 0.30
July 2004 1.68 0.33
August 2004 1.69 0.33
September 2004 1.56 0.35
October 2004 1.66 0.41
November 2004 1.46 0.32
December 2004 1.71 0.33
January 2005 1.74 0.41
February 2005 1.79 0.42
March 2005 1.58 0.28
April 2005 1.66 0.40
May 2005 1.71 0.31
June 2005 1.72 0.35
July 2005 1.72 0.33
August 2005 1.73 0.37
September 2005 1.79 0.36
October 2005 1.74 0.33
November 2005 1.81 0.34
December 2005 1.63 0.37
January 2006 1.82 0.45
February 2006 1.80 0.32
March 2006 1.60 0.37
April 2006 1.51 0.31
May 2006 1.57 0.37
June 2006 1.45 0.35
July 2006 1.42 0.31
August 2006 1.36 0.29
September 2006 1.38 0.34
October 2006 1.21 0.28
November 2006 1.29 0.28
December 2006 1.25 0.40
January 2007 1.13 0.28
February 2007 1.19 0.29
March 2007 1.20 0.29
April 2007 1.20 0.29
May 2007 1.13 0.29
June 2007 1.13 0.32
July 2007 1.04 0.31
August 2007 0.96 0.37
September 2007 0.94 0.25
October 2007 0.88 0.39
November 2007 0.83 0.36
December 2007 0.81 0.23
January 2008 0.77 0.31
February 2008 0.72 0.38
March 2008 0.73 0.28
April 2008 0.68 0.33
May 2008 0.68 0.29
June 2008 0.65 0.40
July 2008 0.62 0.31
August 2008 0.61 0.24
September 2008 0.54 0.28
October 2008 0.54 0.24
November 2008 0.46 0.19
December 2008 0.40 0.16
January 2009 0.36 0.13
February 2009 0.36 0.22
March 2009 0.35 0.15
April 2009 0.39 0.09
May 2009 0.41 0.13
June 2009 0.48 0.10
July 2009 0.51 0.09
August 2009 0.49 0.10
September 2009 0.51 0.08
October 2009 0.48 0.06
November 2009 0.50 0.09
December 2009 0.48 0.10
January 2010 0.51 0.10
February 2010 0.53 0.08
March 2010 0.54 0.09
April 2010 0.57 0.12
May 2010 0.46 0.13
June 2010 0.45 0.09
July 2010 0.43 0.12
August 2010 0.42 0.18
September 2010 0.45 0.15
October 2010 0.44 0.11
November 2010 0.45 0.09
December 2010 0.43 0.11
January 2011 0.43 0.20
February 2011 0.39 0.13
March 2011 0.43 0.17
April 2011 0.41 0.14
May 2011 0.41 0.14
June 2011 0.44 0.17
July 2011 0.43 0.19
August 2011 0.42 0.16
September 2011 0.42 0.23
October 2011 0.44 0.19
November 2011 0.46 0.25
December 2011 0.52 0.18
January 2012 0.51 0.21
February 2012 0.47 0.25
March 2012 0.48 0.23
April 2012 0.50 0.24
May 2012 0.51 0.19
June 2012 0.53 0.22
July 2012 0.51 0.22
August 2012 0.54 0.21
September 2012 0.59 0.25
October 2012 0.59 0.30
November 2012 0.57 0.27
December 2012 0.61 0.37
January 2013 0.61 0.28

Note: The data are monthly and extend through January 2013.

Source: Department of Commerce, Bureau of the Census.

Return to text

Figure 10. Mortgage interest rates, 1995-2013

Percent

Period Fixed rate Adjustable rate
11 January 1995 9.19 6.87
18 January 1995 9.05 6.82
25 January 1995 9.13 6.75
1 February 1995 8.94 6.75
8 February 1995 8.80 6.69
15 February 1995 8.84 6.66
22 February 1995 8.73 6.60
1 March 1995 8.53 6.51
8 March 1995 8.62 6.50
15 March 1995 8.38 6.44
22 March 1995 8.40 6.41
29 March 1995 8.38 6.37
5 April 1995 8.41 6.41
12 April 1995 8.37 6.38
19 April 1995 8.24 6.32
26 April 1995 8.26 6.30
3 May 1995 8.27 6.26
10 May 1995 7.87 6.12
17 May 1995 7.83 6.10
24 May 1995 7.85 6.06
31 May 1995 7.71 5.95
7 June 1995 7.51 5.86
14 June 1995 7.55 5.88
21 June 1995 7.53 5.84
28 June 1995 7.53 5.84
5 July 1995 7.63 5.86
12 July 1995 7.41 5.80
19 July 1995 7.60 5.81
26 July 1995 7.79 5.86
2 August 1995 7.82 5.89
9 August 1995 7.80 5.91
16 August 1995 7.94 5.95
23 August 1995 7.88 5.96
30 August 1995 7.76 5.86
6 September 1995 7.63 5.86
13 September 1995 7.60 5.80
20 September 1995 7.57 5.77
27 September 1995 7.62 5.77
4 October 1995 7.57 5.76
11 October 1995 7.50 5.75
18 October 1995 7.38 5.72
25 October 1995 7.45 5.73
1 November 1995 7.44 5.67
8 November 1995 7.37 5.64
15 November 1995 7.35 5.65
22 November 1995 7.35 5.61
29 November 1995 7.33 5.60
6 December 1995 7.18 5.53
13 December 1995 7.15 5.55
20 December 1995 7.23 5.64
27 December 1995 7.11 5.55
3 January 1996 7.02 5.46
10 January 1996 7.08 5.45
17 January 1996 7.02 5.48
24 January 1996 7.00 5.37
31 January 1996 7.02 5.37
7 February 1996 7.02 5.33
14 February 1996 6.94 5.19
21 February 1996 7.32 5.34
28 February 1996 7.41 5.38
6 March 1996 7.38 5.40
13 March 1996 7.83 5.55
20 March 1996 7.81 5.60
27 March 1996 7.69 5.62
3 April 1996 7.78 5.62
10 April 1996 8.05 5.80
17 April 1996 7.95 5.75
24 April 1996 7.92 5.74
1 May 1996 7.99 5.76
8 May 1996 8.24 5.80
15 May 1996 8.08 5.78
22 May 1996 8.01 5.75
29 May 1996 8.03 5.76
5 June 1996 8.30 5.86
12 June 1996 8.39 5.91
19 June 1996 8.30 5.93
26 June 1996 8.29 5.98
3 July 1996 8.14 5.94
10 July 1996 8.42 6.01
17 July 1996 8.23 5.97
24 July 1996 8.19 6.01
31 July 1996 8.23 5.98
7 August 1996 7.88 5.89
14 August 1996 7.88 5.81
21 August 1996 7.93 5.79
28 August 1996 8.09 5.75
4 September 1996 8.34 5.85
11 September 1996 8.28 5.90
18 September 1996 8.14 5.83
25 September 1996 8.16 5.82
2 October 1996 8.06 5.70
9 October 1996 7.86 5.68
16 October 1996 7.88 5.62
23 October 1996 7.86 5.57
30 October 1996 7.78 5.60
6 November 1996 7.67 5.56
13 November 1996 7.59 5.52
20 November 1996 7.53 5.48
27 November 1996 7.52 5.50
4 December 1996 7.44 5.47
11 December 1996 7.57 5.52
18 December 1996 7.74 5.53
25 December 1996 7.64 5.57
1 January 1997 7.67 5.56
8 January 1997 7.85 5.54
15 January 1997 7.87 5.57
22 January 1997 7.85 5.57
29 January 1997 7.88 5.55
5 February 1997 7.74 5.51
12 February 1997 7.65 5.52
19 February 1997 7.56 5.45
26 February 1997 7.65 5.49
5 March 1997 7.84 5.54
12 March 1997 7.84 5.61
19 March 1997 7.94 5.71
26 March 1997 7.97 5.71
2 April 1997 8.18 5.80
9 April 1997 8.15 5.91
16 April 1997 8.16 5.89
23 April 1997 8.08 5.86
30 April 1997 8.01 5.84
7 May 1997 7.94 5.82
14 May 1997 7.91 5.78
21 May 1997 7.92 5.80
28 May 1997 7.94 5.83
4 June 1997 7.85 5.78
11 June 1997 7.72 5.67
18 June 1997 7.61 5.66
25 June 1997 7.58 5.66
2 July 1997 7.62 5.67
9 July 1997 7.47 5.53
16 July 1997 7.47 5.55
23 July 1997 7.43 5.54
30 July 1997 7.36 5.49
6 August 1997 7.46 5.53
13 August 1997 7.54 5.56
20 August 1997 7.46 5.56
27 August 1997 7.58 5.62
3 September 1997 7.53 5.58
10 September 1997 7.53 5.59
17 September 1997 7.38 5.53
24 September 1997 7.28 5.51
1 October 1997 7.31 5.52
8 October 1997 7.26 5.49
15 October 1997 7.34 5.55
22 October 1997 7.35 5.55
29 October 1997 7.21 5.46
5 November 1997 7.24 5.48
12 November 1997 7.23 5.53
19 November 1997 7.18 5.48
26 November 1997 7.17 5.47
3 December 1997 7.15 5.50
10 December 1997 7.17 5.52
17 December 1997 7.07 5.51
24 December 1997 6.99 5.53
31 December 1997 7.03 5.50
7 January 1998 6.94 5.50
14 January 1998 6.89 5.56
21 January 1998 6.99 5.53
28 January 1998 7.12 5.59
4 February 1998 7.03 5.57
11 February 1998 7.06 5.58
18 February 1998 6.99 5.59
25 February 1998 7.09 5.65
4 March 1998 7.19 5.70
11 March 1998 7.16 5.70
18 March 1998 7.08 5.67
25 March 1998 7.08 5.70
1 April 1998 7.15 5.68
8 April 1998 7.09 5.68
15 April 1998 7.17 5.67
22 April 1998 7.15 5.64
29 April 1998 7.22 5.69
6 May 1998 7.14 5.65
13 May 1998 7.19 5.71
20 May 1998 7.10 5.70
27 May 1998 7.07 5.70
3 June 1998 7.05 5.68
10 June 1998 7.04 5.71
17 June 1998 6.94 5.68
24 June 1998 6.96 5.68
1 July 1998 6.98 5.66
8 July 1998 6.91 5.60
15 July 1998 6.94 5.64
22 July 1998 6.96 5.65
29 July 1998 6.97 5.62
5 August 1998 6.94 5.61
12 August 1998 6.91 5.60
19 August 1998 6.92 5.58
26 August 1998 6.92 5.58
2 September 1998 6.82 5.51
9 September 1998 6.77 5.50
16 September 1998 6.66 5.43
23 September 1998 6.64 5.42
30 September 1998 6.60 5.39
7 October 1998 6.49 5.36
14 October 1998 6.90 5.35
21 October 1998 6.73 5.37
28 October 1998 6.83 5.42
4 November 1998 6.89 5.48
11 November 1998 6.93 5.56
18 November 1998 6.86 5.52
25 November 1998 6.78 5.54
2 December 1998 6.71 5.52
9 December 1998 6.69 5.53
16 December 1998 6.69 5.55
23 December 1998 6.77 5.58
30 December 1998 6.83 5.63
6 January 1999 6.79 5.61
13 January 1999 6.83 5.61
20 January 1999 6.78 5.57
27 January 1999 6.74 5.57
3 February 1999 6.75 5.63
10 February 1999 6.77 5.58
17 February 1999 6.82 5.67
24 February 1999 6.89 5.71
3 March 1999 7.06 5.74
10 March 1999 7.11 5.88
17 March 1999 7.01 5.75
24 March 1999 6.98 5.69
31 March 1999 6.98 5.65
7 April 1999 6.92 5.59
14 April 1999 6.87 5.56
21 April 1999 6.88 5.56
28 April 1999 6.93 5.63
5 May 1999 7.02 5.68
12 May 1999 7.10 5.71
19 May 1999 7.23 5.76
26 May 1999 7.23 5.73
2 June 1999 7.41 5.85
9 June 1999 7.51 5.92
16 June 1999 7.65 5.94
23 June 1999 7.63 5.93
30 June 1999 7.71 6.05
7 July 1999 7.65 5.96
14 July 1999 7.58 5.97
21 July 1999 7.52 5.97
28 July 1999 7.70 5.99
4 August 1999 7.89 6.09
11 August 1999 8.15 6.24
18 August 1999 7.93 6.18
25 August 1999 7.80 6.22
1 September 1999 7.83 6.18
8 September 1999 7.88 6.21
15 September 1999 7.82 6.22
22 September 1999 7.76 6.19
29 September 1999 7.70 6.12
6 October 1999 7.82 6.27
13 October 1999 7.85 6.31
20 October 1999 7.93 6.30
27 October 1999 7.96 6.35
3 November 1999 7.84 6.34
10 November 1999 7.67 6.30
17 November 1999 7.69 6.35
24 November 1999 7.75 6.45
1 December 1999 7.84 6.49
8 December 1999 7.84 6.45
15 December 1999 7.86 6.49
22 December 1999 7.96 6.64
29 December 1999 8.06 6.56
5 January 2000 8.15 6.60
12 January 2000 8.18 6.61
19 January 2000 8.26 6.56
26 January 2000 8.25 6.65
2 February 2000 8.25 6.65
9 February 2000 8.36 6.73
16 February 2000 8.38 6.77
23 February 2000 8.31 6.73
1 March 2000 8.27 6.68
8 March 2000 8.23 6.68
15 March 2000 8.24 6.68
22 March 2000 8.23 6.78
29 March 2000 8.23 6.76
5 April 2000 8.20 6.79
12 April 2000 8.12 6.86
19 April 2000 8.16 6.76
26 April 2000 8.13 6.77
3 May 2000 8.28 6.90
10 May 2000 8.52 6.96
17 May 2000 8.64 7.15
24 May 2000 8.62 7.25
31 May 2000 8.54 7.25
7 June 2000 8.32 7.24
14 June 2000 8.22 7.21
21 June 2000 8.14 7.22
28 June 2000 8.22 7.26
5 July 2000 8.16 7.27
12 July 2000 8.09 7.22
19 July 2000 8.21 7.32
26 July 2000 8.13 7.29
2 August 2000 8.12 7.28
9 August 2000 8.04 7.28
16 August 2000 7.96 7.21
23 August 2000 7.99 7.37
30 August 2000 7.96 7.27
6 September 2000 7.94 7.33
13 September 2000 7.88 7.26
20 September 2000 7.90 7.27
27 September 2000 7.88 7.21
4 October 2000 7.83 7.21
11 October 2000 7.84 7.23
18 October 2000 7.83 7.25
25 October 2000 7.68 7.22
1 November 2000 7.73 7.12
8 November 2000 7.79 7.23
15 November 2000 7.73 7.25
22 November 2000 7.73 7.28
29 November 2000 7.65 7.24
6 December 2000 7.54 7.21
13 December 2000 7.42 7.05
20 December 2000 7.17 7.02
27 December 2000 7.13 6.93
3 January 2001 7.07 6.86
10 January 2001 6.89 6.65
17 January 2001 7.02 6.64
24 January 2001 7.15 6.64
31 January 2001 7.09 6.54
7 February 2001 6.98 6.45
14 February 2001 7.01 6.40
21 February 2001 7.12 6.43
28 February 2001 7.03 6.39
7 March 2001 6.97 6.29
14 March 2001 6.96 6.32
21 March 2001 6.89 6.22
28 March 2001 6.91 6.19
4 April 2001 7.01 6.23
11 April 2001 7.04 6.15
18 April 2001 7.14 6.08
25 April 2001 7.12 5.97
2 May 2001 7.14 6.00
9 May 2001 7.10 5.90
16 May 2001 7.14 5.81
23 May 2001 7.20 5.82
30 May 2001 7.24 5.89
6 June 2001 7.20 5.85
13 June 2001 7.14 5.82
20 June 2001 7.11 5.74
27 June 2001 7.11 5.77
4 July 2001 7.19 5.71
11 July 2001 7.21 5.79
18 July 2001 7.08 5.62
25 July 2001 7.03 5.72
1 August 2001 7.00 5.77
8 August 2001 7.00 5.70
15 August 2001 6.92 5.71
22 August 2001 6.91 5.68
29 August 2001 6.92 5.67
5 September 2001 6.89 5.64
12 September 2001 6.86 5.62
19 September 2001 6.80 5.58
26 September 2001 6.72 5.45
3 October 2001 6.64 5.34
10 October 2001 6.58 5.26
17 October 2001 6.61 5.26
24 October 2001 6.64 5.25
31 October 2001 6.56 5.26
7 November 2001 6.45 5.30
14 November 2001 6.51 5.06
21 November 2001 6.75 5.18
28 November 2001 7.02 5.22
5 December 2001 6.84 5.21
12 December 2001 7.09 5.19
19 December 2001 7.17 5.27
26 December 2001 7.16 5.25
2 January 2002 7.14 5.26
9 January 2002 7.06 5.26
16 January 2002 6.83 5.08
23 January 2002 6.96 5.10
30 January 2002 7.02 5.12
6 February 2002 6.88 5.04
13 February 2002 6.86 4.98
20 February 2002 6.81 4.96
27 February 2002 6.80 4.94
6 March 2002 6.87 5.07
13 March 2002 7.08 5.08
20 March 2002 7.14 5.11
27 March 2002 7.18 5.11
3 April 2002 7.13 4.99
10 April 2002 6.99 5.00
17 April 2002 6.94 4.95
24 April 2002 6.88 4.91
1 May 2002 6.78 4.75
8 May 2002 6.79 4.80
15 May 2002 6.89 4.81
22 May 2002 6.81 4.85
29 May 2002 6.76 4.76
5 June 2002 6.71 4.71
12 June 2002 6.71 4.67
19 June 2002 6.63 4.60
26 June 2002 6.55 4.61
3 July 2002 6.57 4.58
10 July 2002 6.54 4.66
17 July 2002 6.49 4.50
24 July 2002 6.34 4.31
31 July 2002 6.43 4.45
7 August 2002 6.31 4.37
14 August 2002 6.22 4.39
21 August 2002 6.27 4.34
28 August 2002 6.22 4.34
4 September 2002 6.15 4.35
11 September 2002 6.18 4.32
18 September 2002 6.05 4.28
25 September 2002 5.99 4.22
2 October 2002 6.01 4.29
9 October 2002 5.98 4.23
16 October 2002 6.15 4.27
23 October 2002 6.31 4.30
30 October 2002 6.13 4.25
6 November 2002 6.11 4.15
13 November 2002 5.94 4.09
20 November 2002 6.03 4.14
27 November 2002 6.13 4.19
4 December 2002 6.19 4.21
11 December 2002 6.04 4.18
18 December 2002 6.03 4.07
25 December 2002 5.93 4.01
1 January 2003 5.85 4.06
8 January 2003 5.95 4.03
15 January 2003 5.97 4.03
22 January 2003 5.91 3.93
29 January 2003 5.90 3.89
5 February 2003 5.88 3.89
12 February 2003 5.86 3.89
19 February 2003 5.84 3.81
26 February 2003 5.79 3.83
5 March 2003 5.67 3.76
12 March 2003 5.61 3.68
19 March 2003 5.79 3.75
26 March 2003 5.91 3.84
2 April 2003 5.79 3.82
9 April 2003 5.85 3.80
16 April 2003 5.82 3.79
23 April 2003 5.79 3.79
30 April 2003 5.70 3.74
7 May 2003 5.62 3.66
14 May 2003 5.45 3.67
21 May 2003 5.34 3.61
28 May 2003 5.31 3.63
4 June 2003 5.26 3.59
11 June 2003 5.21 3.54
18 June 2003 5.21 3.51
25 June 2003 5.24 3.45
2 July 2003 5.40 3.49
9 July 2003 5.52 3.55
16 July 2003 5.67 3.58
23 July 2003 5.94 3.67
30 July 2003 6.14 3.68
6 August 2003 6.34 3.80
13 August 2003 6.24 3.75
20 August 2003 6.28 3.84
27 August 2003 6.32 3.88
3 September 2003 6.44 3.98
10 September 2003 6.16 3.87
17 September 2003 6.01 3.81
24 September 2003 5.98 3.77
1 October 2003 5.77 3.72
8 October 2003 5.95 3.69
15 October 2003 6.05 3.79
22 October 2003 6.05 3.76
29 October 2003 5.94 3.74
5 November 2003 5.98 3.73
12 November 2003 6.03 3.76
19 November 2003 5.83 3.72
26 November 2003 5.89 3.77
3 December 2003 6.02 3.77
10 December 2003 5.88 3.77
17 December 2003 5.82 3.77
24 December 2003 5.81 3.73
31 December 2003 5.85 3.72
7 January 2004 5.87 3.76
14 January 2004 5.66 3.62
21 January 2004 5.64 3.56
28 January 2004 5.68 3.59
4 February 2004 5.72 3.61
11 February 2004 5.66 3.57
18 February 2004 5.58 3.53
25 February 2004 5.58 3.50
3 March 2004 5.59 3.47
10 March 2004 5.41 3.41
17 March 2004 5.38 3.39
24 March 2004 5.40 3.36
31 March 2004 5.52 3.46
7 April 2004 5.79 3.65
14 April 2004 5.89 3.69
21 April 2004 5.94 3.69
28 April 2004 6.01 3.75
5 May 2004 6.12 3.76
12 May 2004 6.34 3.90
19 May 2004 6.30 3.99
26 May 2004 6.32 3.87
2 June 2004 6.28 3.98
9 June 2004 6.30 4.14
16 June 2004 6.32 4.13
23 June 2004 6.25 4.13
30 June 2004 6.21 4.19
7 July 2004 6.01 4.05
14 July 2004 6.00 4.02
21 July 2004 5.98 4.12
28 July 2004 6.08 4.17
4 August 2004 5.99 4.08
11 August 2004 5.85 4.08
18 August 2004 5.81 4.01
25 August 2004 5.82 4.05
1 September 2004 5.77 3.97
8 September 2004 5.83 4.00
15 September 2004 5.75 4.03
22 September 2004 5.70 4.00
29 September 2004 5.72 3.97
6 October 2004 5.82 4.08
13 October 2004 5.74 4.01
20 October 2004 5.69 4.02
27 October 2004 5.64 3.96
3 November 2004 5.70 4.00
10 November 2004 5.76 4.16
17 November 2004 5.74 4.17
24 November 2004 5.72 4.27
1 December 2004 5.81 4.19
8 December 2004 5.71 4.15
15 December 2004 5.68 4.18
22 December 2004 5.75 4.17
29 December 2004 5.81 4.19
5 January 2005 5.77 4.10
12 January 2005 5.74 4.10
19 January 2005 5.67 4.11
26 January 2005 5.66 4.18
2 February 2005 5.63 4.23
9 February 2005 5.57 4.11
16 February 2005 5.62 4.15
23 February 2005 5.69 4.16
2 March 2005 5.79 4.14
9 March 2005 5.85 4.24
16 March 2005 5.95 4.20
23 March 2005 6.01 4.24
30 March 2005 6.04 4.33
6 April 2005 5.93 4.23
13 April 2005 5.91 4.30
20 April 2005 5.80 4.26
27 April 2005 5.78 4.21
4 May 2005 5.75 4.22
11 May 2005 5.77 4.23
18 May 2005 5.71 4.26
25 May 2005 5.65 4.21
1 June 2005 5.62 4.26
8 June 2005 5.56 4.21
15 June 2005 5.63 4.25
22 June 2005 5.57 4.23
29 June 2005 5.53 4.24
6 July 2005 5.62 4.33
13 July 2005 5.66 4.39
20 July 2005 5.73 4.42
27 July 2005 5.77 4.46
3 August 2005 5.82 4.47
10 August 2005 5.89 4.57
17 August 2005 5.80 4.58
24 August 2005 5.77 4.56
31 August 2005 5.71 4.48
7 September 2005 5.71 4.45
14 September 2005 5.74 4.46
21 September 2005 5.80 4.48
28 September 2005 5.91 4.68
5 October 2005 5.98 4.77
12 October 2005 6.03 4.85
19 October 2005 6.10 4.89
26 October 2005 6.15 4.91
2 November 2005 6.31 5.09
9 November 2005 6.36 5.12
16 November 2005 6.37 5.20
23 November 2005 6.28 5.14
30 November 2005 6.26 5.16
7 December 2005 6.32 5.16
14 December 2005 6.30 5.15
21 December 2005 6.26 5.22
28 December 2005 6.22 5.15
4 January 2006 6.21 5.16
11 January 2006 6.15 5.15
18 January 2006 6.10 5.18
25 January 2006 6.12 5.20
1 February 2006 6.23 5.33
8 February 2006 6.24 5.34
15 February 2006 6.28 5.36
22 February 2006 6.26 5.32
1 March 2006 6.24 5.34
8 March 2006 6.37 5.45
15 March 2006 6.34 5.37
22 March 2006 6.32 5.41
29 March 2006 6.35 5.51
5 April 2006 6.43 5.57
12 April 2006 6.49 5.61
19 April 2006 6.53 5.63
26 April 2006 6.58 5.68
3 May 2006 6.59 5.67
10 May 2006 6.58 5.62
17 May 2006 6.60 5.62
24 May 2006 6.62 5.61
31 May 2006 6.67 5.68
7 June 2006 6.62 5.63
14 June 2006 6.63 5.66
21 June 2006 6.71 5.75
28 June 2006 6.78 5.82
5 July 2006 6.79 5.83
12 July 2006 6.74 5.75
19 July 2006 6.80 5.80
26 July 2006 6.72 5.78
2 August 2006 6.63 5.69
9 August 2006 6.55 5.69
16 August 2006 6.52 5.65
23 August 2006 6.48 5.60
30 August 2006 6.44 5.59
6 September 2006 6.47 5.63
13 September 2006 6.43 5.60
20 September 2006 6.40 5.54
27 September 2006 6.31 5.47
4 October 2006 6.30 5.46
11 October 2006 6.37 5.56
18 October 2006 6.36 5.57
25 October 2006 6.40 5.60
1 November 2006 6.31 5.53
8 November 2006 6.33 5.55
15 November 2006 6.24 5.53
22 November 2006 6.18 5.49
29 November 2006 6.14 5.46
6 December 2006 6.11 5.43
13 December 2006 6.12 5.45
20 December 2006 6.13 5.44
27 December 2006 6.18 5.47
3 January 2007 6.18 5.42
10 January 2007 6.21 5.44
17 January 2007 6.23 5.51
24 January 2007 6.25 5.49
31 January 2007 6.34 5.54
7 February 2007 6.28 5.49
14 February 2007 6.30 5.52
21 February 2007 6.22 5.49
28 February 2007 6.18 5.49
7 March 2007 6.14 5.47
14 March 2007 6.14 5.42
21 March 2007 6.16 5.40
28 March 2007 6.16 5.43
4 April 2007 6.17 5.44
11 April 2007 6.22 5.47
18 April 2007 6.17 5.45
25 April 2007 6.16 5.43
2 May 2007 6.16 5.42
9 May 2007 6.15 5.48
16 May 2007 6.21 5.48
23 May 2007 6.37 5.64
30 May 2007 6.42 5.57
6 June 2007 6.53 5.65
13 June 2007 6.74 5.75
20 June 2007 6.69 5.66
27 June 2007 6.67 5.65
4 July 2007 6.63 5.71
11 July 2007 6.73 5.71
18 July 2007 6.73 5.72
25 July 2007 6.69 5.69
1 August 2007 6.68 5.59
8 August 2007 6.59 5.65
15 August 2007 6.62 5.67
22 August 2007 6.52 5.60
29 August 2007 6.45 5.84
5 September 2007 6.46 5.74
12 September 2007 6.31 5.66
19 September 2007 6.34 5.65
26 September 2007 6.42 5.60
3 October 2007 6.37 5.58
10 October 2007 6.40 5.73
17 October 2007 6.40 5.76
24 October 2007 6.33 5.66
31 October 2007 6.26 5.57
7 November 2007 6.24 5.50
14 November 2007 6.24 5.50
21 November 2007 6.20 5.42
28 November 2007 6.10 5.43
5 December 2007 5.96 5.46
12 December 2007 6.11 5.50
19 December 2007 6.14 5.51
26 December 2007 6.17 5.53
2 January 2008 6.07 5.47
9 January 2008 5.87 5.37
16 January 2008 5.69 5.26
23 January 2008 5.48 4.99
30 January 2008 5.68 5.05
6 February 2008 5.67 5.03
13 February 2008 5.72 5.00
20 February 2008 6.04 4.98
27 February 2008 6.24 5.11
5 March 2008 6.03 4.94
12 March 2008 6.13 5.14
19 March 2008 5.87 5.15
26 March 2008 5.85 5.24
2 April 2008 5.88 5.19
9 April 2008 5.88 5.18
16 April 2008 5.88 5.10
23 April 2008 6.03 5.29
30 April 2008 6.06 5.29
7 May 2008 6.05 5.29
14 May 2008 6.01 5.18
21 May 2008 5.98 5.24
28 May 2008 6.08 5.22
4 June 2008 6.09 5.06
11 June 2008 6.32 5.09
18 June 2008 6.42 5.19
25 June 2008 6.45 5.27
2 July 2008 6.35 5.17
9 July 2008 6.37 5.17
16 July 2008 6.26 5.10
23 July 2008 6.63 5.49
30 July 2008 6.52 5.27
6 August 2008 6.52 5.22
13 August 2008 6.52 5.18
20 August 2008 6.47 5.29
27 August 2008 6.40 5.33
3 September 2008 6.35 5.15
10 September 2008 5.93 5.21
17 September 2008 5.78 5.03
24 September 2008 6.09 5.16
1 October 2008 6.10 5.12
8 October 2008 5.94 5.15
15 October 2008 6.46 5.16
22 October 2008 6.04 5.23
29 October 2008 6.46 5.38
5 November 2008 6.20 5.25
12 November 2008 6.14 5.33
19 November 2008 6.04 5.29
26 November 2008 5.97 5.18
3 December 2008 5.53 5.02
10 December 2008 5.47 5.09
17 December 2008 5.19 4.94
24 December 2008 5.14 4.95
31 December 2008 5.10 4.85
7 January 2009 5.01 4.95
14 January 2009 4.96 4.89
21 January 2009 5.12 4.92
28 January 2009 5.10 4.90
4 February 2009 5.25 4.92
11 February 2009 5.16 4.94
18 February 2009 5.04 4.80
25 February 2009 5.07 4.81
4 March 2009 5.15 4.86
11 March 2009 5.03 4.80
18 March 2009 4.98 4.91
25 March 2009 4.85 4.85
1 April 2009 4.78 4.75
8 April 2009 4.87 4.83
15 April 2009 4.82 4.91
22 April 2009 4.80 4.82
29 April 2009 4.78 4.77
6 May 2009 4.84 4.78
13 May 2009 4.86 4.71
20 May 2009 4.82 4.82
27 May 2009 4.91 4.69
3 June 2009 5.29 4.81
10 June 2009 5.59 5.04
17 June 2009 5.38 4.95
24 June 2009 5.42 4.93
1 July 2009 5.32 4.94
8 July 2009 5.20 4.82
15 July 2009 5.14 4.76
22 July 2009 5.20 4.77
29 July 2009 5.25 4.80
5 August 2009 5.22 4.78
12 August 2009 5.29 4.72
19 August 2009 5.12 4.69
26 August 2009 5.14 4.69
2 September 2009 5.08 4.62
9 September 2009 5.07 4.64
16 September 2009 5.04 4.58
23 September 2009 5.04 4.52
30 September 2009 4.94 4.49
7 October 2009 4.87 4.53
14 October 2009 4.92 4.60
21 October 2009 5.00 4.54
28 October 2009 5.03 4.57
4 November 2009 4.98 4.47
11 November 2009 4.91 4.46
18 November 2009 4.83 4.35
25 November 2009 4.78 4.35
2 December 2009 4.71 4.25
9 December 2009 4.81 4.24
16 December 2009 4.94 4.34
23 December 2009 5.05 4.38
30 December 2009 5.14 4.33
6 January 2010 5.09 4.31
13 January 2010 5.06 4.39
20 January 2010 4.99 4.32
27 January 2010 4.98 4.29
3 February 2010 5.01 4.22
10 February 2010 4.97 4.33
17 February 2010 4.93 4.23
24 February 2010 5.05 4.15
3 March 2010 4.97 4.27
10 March 2010 4.95 4.22
17 March 2010 4.96 4.12
24 March 2010 4.99 4.20
31 March 2010 5.08 4.05
7 April 2010 5.21 4.14
14 April 2010 5.07 4.13
21 April 2010 5.07 4.22
28 April 2010 5.06 4.25
5 May 2010 5.00 4.07
12 May 2010 4.93 4.02
19 May 2010 4.84 4.00
26 May 2010 4.78 3.95
2 June 2010 4.79 3.95
9 June 2010 4.72 3.91
16 June 2010 4.75 3.82
23 June 2010 4.69 3.77
30 June 2010 4.58 3.80
7 July 2010 4.57 3.75
14 July 2010 4.57 3.74
21 July 2010 4.56 3.70
28 July 2010 4.54 3.64
4 August 2010 4.49 3.55
11 August 2010 4.44 3.53
18 August 2010 4.42 3.53
25 August 2010 4.36 3.52
1 September 2010 4.32 3.50
8 September 2010 4.35 3.46
15 September 2010 4.37 3.40
22 September 2010 4.37 3.46
29 September 2010 4.32 3.48
6 October 2010 4.27 3.40
13 October 2010 4.19 3.43
20 October 2010 4.21 3.30
27 October 2010 4.23 3.30
3 November 2010 4.24 3.26
10 November 2010 4.17 3.26
17 November 2010 4.39 3.26
24 November 2010 4.40 3.23
1 December 2010 4.46 3.25
8 December 2010 4.61 3.27
15 December 2010 4.83 3.35
22 December 2010 4.81 3.40
29 December 2010 4.86 3.26
5 January 2011 4.77 3.24
12 January 2011 4.71 3.23
19 January 2011 4.74 3.25
26 January 2011 4.80 3.26
2 February 2011 4.81 3.26
9 February 2011 5.05 3.35
16 February 2011 5.00 3.39
23 February 2011 4.95 3.40
2 March 2011 4.87 3.23
9 March 2011 4.88 3.21
16 March 2011 4.76 3.17
23 March 2011 4.81 3.21
30 March 2011 4.86 3.26
6 April 2011 4.87 3.22
13 April 2011 4.91 3.25
20 April 2011 4.80 3.16
27 April 2011 4.78 3.15
4 May 2011 4.71 3.14
11 May 2011 4.63 3.11
18 May 2011 4.61 3.15
25 May 2011 4.60 3.11
1 June 2011 4.55 3.13
8 June 2011 4.49 2.95
15 June 2011 4.50 2.97
22 June 2011 4.50 2.99
29 June 2011 4.51 2.97
6 July 2011 4.60 3.01
13 July 2011 4.51 2.95
20 July 2011 4.52 2.97
27 July 2011 4.55 2.95
3 August 2011 4.39 3.02
10 August 2011 4.32 2.89
17 August 2011 4.15 2.86
24 August 2011 4.22 2.93
31 August 2011 4.22 2.89
7 September 2011 4.12 2.84
14 September 2011 4.09 2.81
21 September 2011 4.09 2.82
28 September 2011 4.01 2.83
5 October 2011 3.94 2.95
12 October 2011 4.12 2.90
19 October 2011 4.11 2.94
26 October 2011 4.10 2.90
2 November 2011 4.00 2.88
9 November 2011 3.99 2.95
16 November 2011 4.00 2.98
23 November 2011 3.98 2.79
30 November 2011 4.00 2.78
7 December 2011 3.99 2.80
14 December 2011 3.94 2.81
21 December 2011 3.91 2.77
28 December 2011 3.95 2.78
4 January 2012 3.91 2.80
11 January 2012 3.89 2.76
18 January 2012 3.88 2.74
25 January 2012 3.98 2.85
1 February 2012 3.87 2.76
8 February 2012 3.87 2.78
15 February 2012 3.87 2.84
22 February 2012 3.95 2.73
29 February 2012 3.90 2.72
7 March 2012 3.88 2.73
14 March 2012 3.92 2.79
21 March 2012 4.08 2.84
28 March 2012 3.99 2.78
4 April 2012 3.98 2.78
11 April 2012 3.88 2.80
18 April 2012 3.90 2.81
25 April 2012 3.88 2.74
2 May 2012 3.84 2.70
9 May 2012 3.83 2.73
16 May 2012 3.79 2.78
23 May 2012 3.78 2.75
30 May 2012 3.75 2.75
6 June 2012 3.67 2.79
13 June 2012 3.71 2.78
20 June 2012 3.66 2.74
27 June 2012 3.66 2.74
4 July 2012 3.62 2.68
11 July 2012 3.56 2.69
18 July 2012 3.53 2.69
25 July 2012 3.49 2.71
1 August 2012 3.55 2.70
8 August 2012 3.59 2.65
15 August 2012 3.62 2.69
22 August 2012 3.66 2.66
29 August 2012 3.59 2.63
5 September 2012 3.55 2.61
12 September 2012 3.55 2.61
19 September 2012 3.49 2.61
26 September 2012 3.40 2.60
3 October 2012 3.36 2.57
10 October 2012 3.39 2.59
17 October 2012 3.37 2.60
24 October 2012 3.41 2.59
31 October 2012 3.39 2.58
7 November 2012 3.40 2.59
14 November 2012 3.34 2.55
21 November 2012 3.31 2.56
28 November 2012 3.32 2.56
5 December 2012 3.34 2.55
12 December 2012 3.32 2.53
19 December 2012 3.37 2.52
26 December 2012 3.35 2.56
2 January 2013 3.34 2.57
9 January 2013 3.40 2.60
16 January 2013 3.38 2.57
23 January 2013 3.42 2.57
30 January 2013 3.53 2.59
6 February 2013 3.53 2.53
13 February 2013 3.53 2.61
20 February 2013 3.56 2.65

Note: The data, which are weekly and extend through February 20, 2013, are contract rates on 30-year mortgages.

Source: Federal Home Loan Mortgage Corporation.

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Figure 11. Prices of existing single-family houses, 2002-12

Index value

Period S&P/Case-Shiller 20-city index FHFA index CoreLogic price index
January 2002 58.73 68.89 59.99
February 2002 59.13 69.32 60.42
March 2002 59.68 69.71 60.83
April 2002 60.25 70.11 61.29
May 2002 60.93 70.57 61.87
June 2002 61.65 71.00 62.46
July 2002 62.37 71.47 63.09
August 2002 63.06 71.94 63.65
September 2002 63.65 72.40 64.09
October 2002 64.29 72.88 64.48
November 2002 64.89 73.31 64.91
December 2002 65.52 73.83 65.27
January 2003 66.04 74.28 65.90
February 2003 66.52 74.76 66.33
March 2003 66.97 75.02 66.82
April 2003 67.38 75.49 67.24
May 2003 67.82 75.88 67.73
June 2003 68.19 76.26 68.22
July 2003 68.77 76.81 68.82
August 2003 69.47 77.39 69.58
September 2003 70.29 78.01 70.32
October 2003 71.13 78.49 71.06
November 2003 72.02 79.11 71.83
December 2003 72.95 79.74 72.53
January 2004 73.85 80.31 73.66
February 2004 74.78 80.93 74.62
March 2004 75.95 81.45 75.76
April 2004 77.11 82.13 76.71
May 2004 78.27 82.94 77.75
June 2004 79.51 83.78 78.90
July 2004 80.52 84.48 79.85
August 2004 81.33 85.08 80.62
September 2004 82.10 85.74 81.49
October 2004 82.89 86.36 82.45
November 2004 83.76 87.23 83.44
December 2004 84.72 87.92 84.36
January 2005 85.91 88.54 85.90
February 2005 87.22 89.18 87.37
March 2005 88.68 90.11 89.36
April 2005 89.77 90.91 90.33
May 2005 90.76 91.62 91.33
June 2005 91.72 92.38 92.44
July 2005 92.61 93.31 93.41
August 2005 93.57 94.02 94.36
September 2005 94.66 94.89 95.41
October 2005 95.75 95.42 96.14
November 2005 96.84 96.07 96.89
December 2005 97.83 96.63 97.55
January 2006 98.60 97.33 98.50
February 2006 99.37 97.53 99.10
March 2006 99.82 97.87 100.00
April 2006 100.00 98.08 99.62
May 2006 99.94 98.38 99.28
June 2006 99.59 98.32 98.77
July 2006 99.17 98.39 98.24
August 2006 98.77 98.64 97.93
September 2006 98.51 98.59 98.10
October 2006 98.49 98.77 98.27
November 2006 98.53 99.05 98.33
December 2006 98.44 99.17 98.41
January 2007 98.58 99.54 97.97
February 2007 98.74 99.56 97.57
March 2007 98.79 99.94 97.12
April 2007 98.19 100.00 96.32
May 2007 97.30 99.49 95.39
June 2007 96.23 99.18 94.47
July 2007 95.25 98.69 93.53
August 2007 94.31 98.32 92.54
September 2007 93.44 97.89 91.72
October 2007 92.39 97.19 90.72
November 2007 90.89 96.58 89.71
December 2007 89.54 96.19 88.88
January 2008 88.11 95.28 87.94
February 2008 86.37 94.95 86.69
March 2008 84.86 94.09 85.45
April 2008 83.47 93.04 83.99
May 2008 82.09 92.16 82.78
June 2008 80.91 91.59 81.66
July 2008 79.56 90.78 80.49
August 2008 78.45 89.99 79.43
September 2008 76.98 89.14 78.30
October 2008 75.59 88.25 76.96
November 2008 74.30 86.69 75.56
December 2008 72.88 86.80 74.20
January 2009 71.43 87.51 72.60
February 2009 70.43 87.74 71.57
March 2009 69.20 86.78 70.86
April 2009 68.56 86.32 70.49
May 2009 68.21 86.10 70.68
June 2009 68.42 86.10 71.05
July 2009 68.87 85.94 71.38
August 2009 69.43 85.67 71.59
September 2009 69.68 85.57 71.65
October 2009 70.00 85.89 71.78
November 2009 70.28 86.08 72.09
December 2009 70.66 85.17 72.08
January 2010 71.00 85.22 72.34
February 2010 71.04 84.67 72.09
March 2010 70.96 84.85 72.49
April 2010 71.31 84.99 72.55
May 2010 71.40 85.10 72.50
June 2010 71.27 84.11 72.06
July 2010 70.89 83.60 71.47
August 2010 70.41 83.55 70.81
September 2010 69.88 82.65 70.21
October 2010 69.37 82.64 69.93
November 2010 69.15 82.23 69.75
December 2010 69.00 81.78 69.47
January 2011 68.85 81.23 69.36
February 2011 68.68 80.32 68.97
March 2011 68.22 79.82 68.68
April 2011 68.36 79.93 68.53
May 2011 68.18 79.91 68.34
June 2011 68.10 80.32 68.28
July 2011 67.95 80.49 68.34
August 2011 67.72 80.30 68.22
September 2011 67.32 80.55 68.17
October 2011 66.90 79.93 67.98
November 2011 66.47 80.31 67.70
December 2011 66.22 80.70 67.40
January 2012 66.17 80.42 68.11
February 2012 66.28 80.61 68.58
March 2012 66.47 81.80 69.34
April 2012 67.18 82.34 69.76
May 2012 67.84 82.89 70.22
June 2012 68.51 83.41 70.61
July 2012 68.72 83.51 70.97
August 2012 69.03 83.85 71.34
September 2012 69.30 83.87 71.68
October 2012 69.72 84.36 71.98
November 2012 70.16 84.84 72.50
December 2012 ND ND 73.00

Note: The data are monthly and extend into 2012:Q4. Each index has been normalized so that its peak is 100. Both the CoreLogic price index and the FHFA index include purchase transactions only. The S&P/Case-Shiller index reflects all arm's-length sales transactions in selected metropolitan areas.

Source: For CoreLogic, CoreLogic; for FHFA, Federal Housing Finance Agency; for S&P/Case-Shiller, Standard & Poor's.

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Figure 12. Change in real business fixed investment, 2006-12

Percent, annual rate

Period Structures Equipment and software
2006 12.98 6.00
2007 17.29 3.89
2008 -1.16 -13.63
2009 -29.38 -7.76
2010 -1.77 11.93
2011 6.90 11.43
2012:H1 6.56 5.10
2012:H2 -0.58 4.66

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 13. Change in real government expenditures on consumption and investment, 2006-12

Percent, annual rate

Period Federal State and local
2006 2.15 1.16
2007 3.11 1.21
2008 8.82 -0.86
2009 5.09 3.29
2010 2.34 -3.60
2011 -4.18 -2.66
2012:H1 -2.26 -1.58
2012:H2 -3.51 -0.19

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 14. Change in real imports and exports of goods and services, 2007-12

Percent, annual rate

Period Imports Exports
2007 0.85 10.08
2008 -5.85 -2.55
2009 -6.11 0.29
2010 10.88 8.80
2011 3.47 4.33
2012:H1 2.93 4.82
2012:H2 -1.90 -1.96

Source: Department of Commerce, Bureau of Economic Analysis.

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Figure 15. Interest rates on Treasury securities at selected maturities, 2004-13

Series: 5-year nominal, 10-year nominal, and 5-year TIPS

Horizon: 2004 to 2013

Description: Data are plotted as three curves. Units are percent. There is a horizontal zero line. The 5-year TIPS curve crosses the other curves at various points from late 2008 to early 2009. The curves for 5-year nominal and for 10-year nominal roughly overlap from late 2005 to late 2007.

The 5-year nominal series starts at the beginning of 2004 at about 3.3 and declines slightly to just below 3 before rising to about 4 in mid-2004. It decreases slightly to just below 3.5 over the second half of 2004 and then generally rises until it reaches about 5 in mid-2006. It generally stays at around this level until late 2007, when it declines sharply, reaching about 2.25 by early 2008. It then increases briefly to around 3.5 in mid-2008 before declining to about 1.5 in late 2008. The series rises to just below 3 by mid-2009 and remains generally between 2.5 and 2 until mid-2010. The series then declines to about 1 in late 2010 and increases to slightly above 2 by early 2011. It declines to just below 1 in late 2011 and generally remains at this level until the series ends in early 2013.

The general behavior of the 10-year nominal series is in line with that of the 5-year nominal series. The 10-year nominal series starts at the beginning of 2004 at just above 4 and then declines slightly to just below 4 early in the year before rising to just below 5 in midyear. The series declines slightly to about 4 over the second half of 2004 and then generally rises until it reaches about 5 in mid-2006. It generally stays at around this level until late 2007, when it declines sharply, reaching about 3.5 by early 2008. It then briefly increases to just over 4 in mid-2008 before another decline to about 2 in late 2008. The series rises to about 4 by mid-2009 and remains generally between 4 and 3.5 until mid-2010. The series then declines to about 2.5 in late 2010 and increases to about 3.75 by early 2011. It declines to just below 2 in late 2011 and generally remains at about this level through late 2012 before ending at around 2 in early 2013.

The 5-year TIPS series starts at the beginning of 2004 at just above 1. It dips slightly to about 0.5 in early 2004 before rising to about 1.5 by mid-2004. It then gradually declines to about 1 by late 2004 before generally increasing to about 2.5 by mid-2007. It declines sharply to about 0 by early 2008, which is followed by a sharp spike to about 4 by late 2008. The series declines to about 1.5 by early 2009. It generally declines and is first negative around late 2010, briefly returns to positive in late 2010 and early 2011, and remains negative from early 2011 until it ends in early 2013 at around negative 1.5.

Note: The data are daily and extend through February 21, 2013. Treasury inflation-protected securities (TIPS) are based on yield curves fitted by Federal Reserve staff to on- and off-the-run TIPS.

Source: Department of the Treasury; Barclays; Federal Reserve Board staff estimates.

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Figure 16. Spreads of corporate bond yields over comparable off-the-run Treasury yields, by securities rating, 1997-2013

Series: High-yield, BBB, and AA

Horizon: 1997 to 2013

Description: Data are plotted as three curves. Units are percentage points. There is a horizontal zero line. The curves for AA and BBB overlap briefly in late 2008.

The high-yield series starts at the beginning of 1997 at around 4, generally rises to around 6 by late 1998, and falls back to about 4 by early 2000. It then rises to about 8 by early 2001 and, from that point, fluctuates between around 8 and around 6 through mid-2003. It generally falls to around 3 by late 2003. It then fluctuates between that point and a little more than 4 until mid-2007. Beginning in mid-2007, it rises to around 6.5 by early 2008 and, after falling a bit by mid-2008, jumps sharply to a little more than 16 by early 2009. It fluctuates between about 10 and 14 in early 2009 and then falls quickly at the end of 2009 to about 4. It rises to about 6 by early 2010 and falls a little below 4 by early 2011. The series rises to about 7.5 by late 2011 and ends the year around 6. It then declines to around 5 before rising to about 6 by mid-2012. The series generally declines and ends in early 2013 at around 4.5.

The BBB series starts at the beginning of 1997 at around 1, rises to about 2 by late 1998, and then falls and generally remains around 1.5 until early 2000. It generally rises to about 3 by late 2002. It then generally falls, reaching about 1 by late 2003 and staying at about that level until early 2005, when it rises gradually to about 2 by mid-2007, rises to around 3 by mid-2008, and jumps to around 6.5 by the end of 2008. It falls quickly to about 3 by mid-2009 and then falls a bit more to around 2 toward the end of 2009. It remains at about that level until mid-2011, when it rises, reaching about 3 by late 2011. It declines steadily over 2012, reaching about 2 by year-end. It ends around 2 in early 2013.

The AA series starts at the beginning of 1997 at around 0.5 and rises to around 1 by late 1998. It remains between 1 and about 1.5 until late 2002. It generally falls to about 1 in early 2003 and remains at about that level until mid-2007. It generally rises from that level to around 4 by the end of 2008 and then generally falls to slightly below 2 by mid-2009. It remains between about 1 and 1.5 until mid-2011. It then rises to just above 2 by late 2011. The series then declines over 2012, reaching about 1 by year-end, and ends in early 2013 at just under 1.

Note: The data are daily and extend through February 21, 2013. The spreads shown are the yields on 10-year bonds less the 10-year Treasury yield.

Source: Derived from smoothed corporate yield curves using Merrill Lynch bond data.

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Figure 17. Spreads on credit default swaps for selected U.S. banking organizations, 2007-13

Basis points

Date Large bank holding companies Other banks
3 January 2007 12.26 16.95
4 January 2007 12.29 16.95
5 January 2007 12.28 16.95
8 January 2007 12.17 16.95
9 January 2007 12.15 16.87
10 January 2007 12.13 16.99
11 January 2007 12.08 16.99
12 January 2007 12.09 15.92
15 January 2007 12.09 15.92
16 January 2007 12.14 15.92
17 January 2007 11.94 16.05
18 January 2007 11.90 16.05
19 January 2007 11.91 16.05
22 January 2007 11.92 16.05
23 January 2007 11.98 17.00
24 January 2007 12.01 17.00
25 January 2007 11.98 16.82
26 January 2007 11.98 15.96
29 January 2007 12.06 15.96
30 January 2007 12.05 15.96
31 January 2007 12.56 15.96
1 February 2007 12.80 15.96
2 February 2007 12.79 15.96
5 February 2007 12.67 15.68
6 February 2007 12.57 15.68
7 February 2007 12.45 15.68
8 February 2007 12.40 15.68
9 February 2007 12.51 15.68
12 February 2007 13.28 15.68
13 February 2007 13.62 15.68
14 February 2007 13.00 15.68
15 February 2007 12.92 15.68
16 February 2007 12.87 15.68
19 February 2007 12.89 15.68
20 February 2007 13.00 15.03
21 February 2007 12.94 20.28
22 February 2007 12.98 16.52
23 February 2007 14.76 16.99
26 February 2007 14.29 16.52
27 February 2007 15.32 16.70
28 February 2007 14.96 16.70
1 March 2007 15.10 16.70
2 March 2007 15.06 16.70
5 March 2007 16.03 16.37
6 March 2007 15.92 16.37
7 March 2007 15.33 16.37
8 March 2007 15.10 16.38
9 March 2007 15.10 16.38
12 March 2007 15.40 16.41
13 March 2007 16.94 16.41
14 March 2007 17.91 16.25
15 March 2007 17.56 16.25
16 March 2007 18.87 16.64
19 March 2007 18.57 16.70
20 March 2007 18.54 16.78
21 March 2007 17.05 16.67
22 March 2007 15.98 17.00
23 March 2007 15.99 17.00
26 March 2007 15.22 16.60
27 March 2007 15.03 16.50
28 March 2007 15.75 16.50
29 March 2007 15.56 16.50
30 March 2007 15.56 16.59
2 April 2007 15.79 16.59
3 April 2007 15.89 16.59
4 April 2007 16.09 16.59
5 April 2007 15.80 17.11
6 April 2007 15.78 17.11
9 April 2007 15.67 16.92
10 April 2007 15.63 16.92
11 April 2007 15.09 16.92
12 April 2007 15.24 17.11
13 April 2007 15.30 17.28
16 April 2007 15.45 17.28
17 April 2007 15.79 17.28
18 April 2007 14.79 17.28
19 April 2007 14.07 17.28
20 April 2007 13.69 17.28
23 April 2007 13.52 17.29
24 April 2007 12.99 17.29
25 April 2007 12.93 17.14
26 April 2007 13.01 17.10
27 April 2007 12.98 17.10
30 April 2007 13.03 17.10
1 May 2007 12.75 17.10
2 May 2007 12.65 17.10
3 May 2007 12.38 17.10
4 May 2007 12.36 17.10
7 May 2007 12.41 17.13
8 May 2007 12.36 16.79
9 May 2007 12.22 16.49
10 May 2007 12.23 16.49
11 May 2007 12.27 16.49
14 May 2007 11.99 16.49
15 May 2007 12.02 16.49
16 May 2007 12.02 16.50
17 May 2007 12.07 16.30
18 May 2007 12.08 16.25
21 May 2007 12.17 16.25
22 May 2007 12.12 16.33
23 May 2007 12.17 16.33
24 May 2007 12.24 16.33
25 May 2007 12.21 16.25
28 May 2007 12.21 16.25
29 May 2007 12.31 16.33
30 May 2007 12.38 16.33
31 May 2007 12.24 16.35
1 June 2007 12.38 16.35
4 June 2007 12.25 16.35
5 June 2007 12.25 16.34
6 June 2007 12.42 16.34
7 June 2007 13.00 16.34
8 June 2007 13.14 16.30
11 June 2007 13.22 16.42
12 June 2007 13.36 16.43
13 June 2007 13.86 16.60
14 June 2007 13.99 16.60
15 June 2007 14.03 16.60
18 June 2007 14.20 16.53
19 June 2007 14.04 16.53
20 June 2007 15.00 16.66
21 June 2007 15.64 16.49
22 June 2007 15.61 16.47
25 June 2007 15.86 16.47
26 June 2007 15.96 16.40
27 June 2007 16.27 17.00
28 June 2007 16.25 17.00
29 June 2007 17.04 17.00
2 July 2007 17.74 17.00
3 July 2007 17.76 17.00
4 July 2007 17.82 17.00
5 July 2007 18.12 17.00
6 July 2007 18.35 16.85
9 July 2007 18.83 16.85
10 July 2007 20.33 16.87
11 July 2007 25.72 16.97
12 July 2007 24.52 17.15
13 July 2007 24.11 17.41
16 July 2007 23.98 17.47
17 July 2007 24.83 18.72
18 July 2007 26.49 19.24
19 July 2007 27.11 19.43
20 July 2007 33.96 20.51
23 July 2007 33.69 20.50
24 July 2007 34.51 21.24
25 July 2007 38.37 20.95
26 July 2007 56.08 20.32
27 July 2007 54.81 20.60
30 July 2007 54.33 22.83
31 July 2007 44.51 25.00
1 August 2007 46.75 32.97
2 August 2007 46.41 32.36
3 August 2007 50.10 26.00
6 August 2007 53.72 26.00
7 August 2007 52.48 26.00
8 August 2007 44.99 26.00
9 August 2007 49.52 27.50
10 August 2007 54.28 26.18
13 August 2007 51.22 24.87
14 August 2007 53.35 26.18
15 August 2007 54.79 30.17
16 August 2007 56.15 30.17
17 August 2007 53.28 30.17
20 August 2007 45.90 34.52
21 August 2007 43.83 34.00
22 August 2007 40.82 31.25
23 August 2007 39.44 31.97
24 August 2007 39.92 32.00
27 August 2007 39.24 32.00
28 August 2007 40.60 32.97
29 August 2007 42.27 32.49
30 August 2007 45.56 32.00
31 August 2007 43.63 32.00
3 September 2007 43.40 32.00
4 September 2007 44.19 36.84
5 September 2007 44.93 35.75
6 September 2007 44.85 36.84
7 September 2007 46.36 36.64
10 September 2007 46.41 36.56
11 September 2007 46.15 36.84
12 September 2007 46.96 34.13
13 September 2007 44.55 33.00
14 September 2007 44.02 35.97
17 September 2007 42.86 35.97
18 September 2007 37.96 35.25
19 September 2007 30.98 36.07
20 September 2007 30.91 35.78
21 September 2007 30.97 35.78
24 September 2007 32.79 35.25
25 September 2007 35.00 34.39
26 September 2007 32.86 34.46
27 September 2007 33.33 34.70
28 September 2007 33.95 33.84
1 October 2007 32.87 34.52
2 October 2007 31.21 34.17
3 October 2007 31.16 34.00
4 October 2007 29.70 32.39
5 October 2007 28.81 32.72
8 October 2007 28.86 32.84
9 October 2007 27.38 33.90
10 October 2007 26.36 35.25
11 October 2007 25.08 32.88
12 October 2007 24.83 32.94
15 October 2007 24.97 32.95
16 October 2007 29.23 31.67
17 October 2007 32.90 33.00
18 October 2007 35.79 35.56
19 October 2007 37.32 35.56
22 October 2007 42.24 34.67
23 October 2007 39.74 35.56
24 October 2007 41.44 35.25
25 October 2007 43.58 34.00
26 October 2007 45.03 34.00
29 October 2007 43.76 34.00
30 October 2007 44.51 32.28
31 October 2007 45.79 32.28
1 November 2007 54.49 34.00
2 November 2007 59.66 35.65
5 November 2007 63.34 36.05
6 November 2007 60.50 36.06
7 November 2007 70.58 37.55
8 November 2007 73.05 38.90
9 November 2007 74.50 38.81
12 November 2007 74.17 38.79
13 November 2007 69.39 38.74
14 November 2007 63.46 38.68
15 November 2007 67.54 37.37
16 November 2007 68.11 35.04
19 November 2007 73.04 36.33
20 November 2007 77.32 36.77
21 November 2007 83.76 42.55
22 November 2007 83.93 42.61
23 November 2007 80.64 42.64
26 November 2007 79.28 42.68
27 November 2007 75.62 45.16
28 November 2007 65.11 46.58
29 November 2007 65.41 48.13
30 November 2007 61.39 48.00
3 December 2007 66.02 48.00
4 December 2007 68.94 48.00
5 December 2007 66.75 48.00
6 December 2007 60.95 48.00
7 December 2007 56.38 49.44
10 December 2007 52.76 48.40
11 December 2007 56.57 48.00
12 December 2007 55.84 46.69
13 December 2007 59.54 46.69
14 December 2007 59.48 53.36
17 December 2007 61.42 53.11
18 December 2007 62.54 49.43
19 December 2007 63.41 48.91
20 December 2007 63.62 49.17
21 December 2007 63.65 49.17
24 December 2007 63.60 49.17
25 December 2007 63.61 49.17
26 December 2007 63.03 49.17
27 December 2007 62.96 49.17
28 December 2007 62.65 49.17
31 December 2007 62.55 49.17
1 January 2008 62.57 49.17
2 January 2008 66.22 48.49
3 January 2008 69.22 48.50
4 January 2008 73.45 52.83
7 January 2008 77.04 54.46
8 January 2008 77.96 57.49
9 January 2008 84.88 59.50
10 January 2008 84.17 60.17
11 January 2008 88.25 58.00
14 January 2008 85.76 57.79
15 January 2008 84.20 57.40
16 January 2008 81.20 57.20
17 January 2008 84.34 58.00
18 January 2008 88.69 58.00
21 January 2008 90.94 58.00
22 January 2008 95.43 58.00
23 January 2008 84.06 58.00
24 January 2008 73.49 58.00
25 January 2008 72.58 58.00
28 January 2008 74.30 60.00
29 January 2008 72.89 57.50
30 January 2008 73.15 57.50
31 January 2008 76.78 57.50
1 February 2008 74.70 57.50
4 February 2008 75.01 57.50
5 February 2008 80.01 57.50
6 February 2008 81.02 57.50
7 February 2008 83.87 63.50
8 February 2008 87.51 63.50
11 February 2008 94.17 59.01
12 February 2008 96.43 59.01
13 February 2008 98.37 59.01
14 February 2008 99.48 58.77
15 February 2008 108.88 63.50
18 February 2008 109.45 63.50
19 February 2008 112.40 63.50
20 February 2008 115.83 73.87
21 February 2008 113.29 74.08
22 February 2008 113.35 63.50
25 February 2008 112.24 63.50
26 February 2008 109.88 73.50
27 February 2008 111.84 73.50
28 February 2008 119.76 73.83
29 February 2008 130.83 74.05
3 March 2008 137.66 76.88
4 March 2008 152.09 77.43
5 March 2008 150.50 77.11
6 March 2008 170.78 99.29
7 March 2008 171.96 103.25
10 March 2008 187.02 103.75
11 March 2008 178.29 104.25
12 March 2008 179.53 104.25
13 March 2008 190.07 104.25
14 March 2008 208.11 104.25
17 March 2008 209.92 104.25
18 March 2008 143.49 104.25
19 March 2008 136.39 104.25
20 March 2008 133.84 106.05
21 March 2008 133.97 106.05
24 March 2008 107.46 106.05
25 March 2008 110.22 106.00
26 March 2008 119.50 105.94
27 March 2008 121.29 105.84
28 March 2008 123.33 105.82
31 March 2008 123.22 106.19
1 April 2008 113.07 110.33
2 April 2008 106.34 108.66
3 April 2008 103.55 108.74
4 April 2008 98.77 109.01
7 April 2008 92.23 110.89
8 April 2008 99.91 110.21
9 April 2008 107.45 109.67
10 April 2008 112.55 109.97
11 April 2008 113.52 110.15
14 April 2008 114.38 110.28
15 April 2008 111.68 109.70
16 April 2008 99.34 108.61
17 April 2008 95.60 108.69
18 April 2008 80.05 99.67
21 April 2008 82.99 99.33
22 April 2008 86.85 99.00
23 April 2008 87.89 100.89
24 April 2008 89.97 101.25
25 April 2008 85.51 99.00
28 April 2008 81.35 96.30
29 April 2008 81.99 94.80
30 April 2008 76.87 95.00
1 May 2008 71.30 95.00
2 May 2008 66.10 91.70
5 May 2008 69.55 91.70
6 May 2008 76.71 91.70
7 May 2008 78.48 91.70
8 May 2008 79.61 91.70
9 May 2008 81.33 91.11
12 May 2008 79.52 93.86
13 May 2008 77.64 91.70
14 May 2008 75.40 91.70
15 May 2008 73.30 91.70
16 May 2008 70.57 91.70
19 May 2008 69.77 89.82
20 May 2008 71.98 89.82
21 May 2008 75.31 89.82
22 May 2008 85.54 89.86
23 May 2008 86.79 89.86
26 May 2008 87.14 89.87
27 May 2008 90.41 89.54
28 May 2008 87.10 89.87
29 May 2008 86.57 89.88
30 May 2008 84.90 89.86
2 June 2008 89.45 94.20
3 June 2008 91.96 94.20
4 June 2008 96.19 94.20
5 June 2008 91.49 94.20
6 June 2008 94.26 94.20
9 June 2008 94.95 94.20
10 June 2008 98.87 94.20
11 June 2008 101.21 94.20
12 June 2008 99.87 94.20
13 June 2008 99.74 94.20
16 June 2008 98.20 94.20
17 June 2008 91.43 94.20
18 June 2008 96.19 95.51
19 June 2008 103.42 99.29
20 June 2008 110.89 102.12
23 June 2008 108.67 107.75
24 June 2008 111.00 107.98
25 June 2008 108.96 108.88
26 June 2008 125.43 114.88
27 June 2008 126.42 122.89
30 June 2008 125.31 126.85
1 July 2008 129.10 136.80
2 July 2008 124.72 136.80
3 July 2008 125.21 134.78
4 July 2008 125.29 134.78
7 July 2008 124.79 134.78
8 July 2008 125.95 134.33
9 July 2008 121.52 134.17
10 July 2008 127.44 137.95
11 July 2008 134.09 140.30
14 July 2008 138.49 144.56
15 July 2008 157.91 160.45
16 July 2008 147.53 162.90
17 July 2008 138.24 170.00
18 July 2008 136.26 165.00
21 July 2008 126.33 160.00
22 July 2008 126.40 158.95
23 July 2008 112.69 152.65
24 July 2008 115.53 152.55
25 July 2008 126.59 154.63
28 July 2008 129.71 155.10
29 July 2008 126.33 157.25
30 July 2008 118.21 155.10
31 July 2008 118.69 156.35
1 August 2008 119.77 155.05
4 August 2008 120.71 155.30
5 August 2008 116.70 154.30
6 August 2008 115.71 136.45
7 August 2008 119.07 137.45
8 August 2008 121.36 140.45
11 August 2008 119.67 140.45
12 August 2008 122.74 155.10
13 August 2008 130.35 155.10
14 August 2008 130.03 144.54
15 August 2008 131.00 132.85
18 August 2008 136.00 132.77
19 August 2008 147.71 132.76
20 August 2008 145.73 147.10
21 August 2008 151.00 148.32
22 August 2008 144.19 148.26
25 August 2008 146.03 148.23
26 August 2008 148.48 149.49
27 August 2008 148.00 149.49
28 August 2008 140.54 149.49
29 August 2008 139.32 148.98
1 September 2008 139.27 148.91
2 September 2008 133.95 147.32
3 September 2008 137.41 147.58
4 September 2008 142.98 147.64
5 September 2008 146.75 149.86
8 September 2008 137.99 148.09
9 September 2008 149.02 149.28
10 September 2008 151.30 151.40
11 September 2008 160.82 145.87
12 September 2008 171.43 150.14
15 September 2008 231.99 145.02
16 September 2008 241.12 162.77
17 September 2008 287.61 159.94
18 September 2008 250.21 150.00
19 September 2008 178.43 192.23
22 September 2008 163.96 184.98
23 September 2008 182.17 196.23
24 September 2008 188.00 192.31
25 September 2008 180.90 192.20
26 September 2008 227.76 222.37
29 September 2008 241.59 227.00
30 September 2008 223.14 226.84
1 October 2008 223.33 227.39
2 October 2008 233.44 227.39
3 October 2008 250.89 227.39
6 October 2008 262.05 227.39
7 October 2008 265.11 227.39
8 October 2008 264.50 227.39
9 October 2008 271.09 200.67
10 October 2008 265.98 205.04
13 October 2008 264.15 226.45
14 October 2008 121.95 181.45
15 October 2008 136.58 183.95
16 October 2008 137.38 163.73
17 October 2008 138.75 161.73
20 October 2008 136.10 162.98
21 October 2008 134.26 162.23
22 October 2008 145.65 167.48
23 October 2008 152.37 172.48
24 October 2008 161.62 185.60
27 October 2008 163.57 168.50
28 October 2008 162.57 188.00
29 October 2008 163.19 184.50
30 October 2008 161.13 183.50
31 October 2008 162.11 180.48
3 November 2008 165.00 180.48
4 November 2008 160.51 170.48
5 November 2008 159.93 167.98
6 November 2008 164.43 167.98
7 November 2008 166.25 178.75
10 November 2008 163.44 193.60
11 November 2008 162.40 193.60
12 November 2008 170.57 174.05
13 November 2008 174.03 174.05
14 November 2008 176.32 179.30
17 November 2008 181.82 181.80
18 November 2008 183.71 142.42
19 November 2008 248.21 193.00
20 November 2008 275.55 201.75
21 November 2008 286.02 202.00
24 November 2008 218.52 173.04
25 November 2008 220.84 170.92
26 November 2008 219.89 167.92
27 November 2008 219.77 167.92
28 November 2008 219.28 167.92
1 December 2008 223.18 172.22
2 December 2008 223.62 174.45
3 December 2008 225.91 177.22
4 December 2008 227.08 178.72
5 December 2008 223.37 182.99
8 December 2008 212.79 178.77
9 December 2008 210.54 178.74
10 December 2008 205.80 180.64
11 December 2008 208.03 183.02
12 December 2008 214.31 189.89
15 December 2008 214.08 189.07
16 December 2008 212.29 190.87
17 December 2008 191.62 188.70
18 December 2008 175.28 184.60
19 December 2008 178.73 181.19
22 December 2008 179.51 179.76
23 December 2008 168.59 178.61
24 December 2008 170.06 179.51
25 December 2008 169.65 179.51
26 December 2008 167.71 176.14
29 December 2008 164.14 169.13
30 December 2008 156.04 167.56
31 December 2008 154.57 166.99
1 January 2009 153.57 167.03
2 January 2009 151.37 166.29
5 January 2009 145.12 162.10
6 January 2009 137.75 163.40
7 January 2009 145.92 164.12
8 January 2009 166.42 157.10
9 January 2009 170.82 150.00
12 January 2009 208.85 170.13
13 January 2009 213.98 185.50
14 January 2009 243.12 209.00
15 January 2009 253.09 207.79
16 January 2009 230.63 191.00
19 January 2009 229.69 190.75
20 January 2009 253.14 207.50
21 January 2009 251.04 220.00
22 January 2009 257.68 220.00
23 January 2009 257.90 220.00
26 January 2009 241.40 178.90
27 January 2009 232.37 177.73
28 January 2009 216.37 168.38
29 January 2009 227.38 167.83
30 January 2009 229.73 167.66
2 February 2009 230.93 169.13
3 February 2009 231.83 170.85
4 February 2009 239.84 168.24
5 February 2009 236.67 170.84
6 February 2009 206.75 165.57
9 February 2009 199.94 163.36
10 February 2009 203.84 162.39
11 February 2009 202.22 171.41
12 February 2009 209.81 172.82
13 February 2009 216.31 172.53
16 February 2009 215.56 172.53
17 February 2009 232.11 189.28
18 February 2009 244.06 189.89
19 February 2009 261.40 198.38
20 February 2009 288.31 198.60
23 February 2009 296.34 198.85
24 February 2009 283.64 177.13
25 February 2009 259.96 197.60
26 February 2009 253.03 202.83
27 February 2009 253.02 202.83
2 March 2009 295.07 194.85
3 March 2009 308.19 177.13
4 March 2009 320.42 177.13
5 March 2009 356.06 203.50
6 March 2009 353.90 177.66
9 March 2009 369.09 176.88
10 March 2009 336.94 180.30
11 March 2009 304.01 177.60
12 March 2009 300.43 155.06
13 March 2009 292.50 155.02
16 March 2009 262.20 172.50
17 March 2009 269.96 173.47
18 March 2009 277.44 157.14
19 March 2009 274.94 157.20
20 March 2009 291.98 155.09
23 March 2009 276.69 155.10
24 March 2009 276.16 185.83
25 March 2009 292.41 185.83
26 March 2009 309.16 191.25
27 March 2009 329.58 190.00
30 March 2009 350.10 191.37
31 March 2009 345.42 191.71
1 April 2009 354.87 191.58
2 April 2009 324.03 191.58
3 April 2009 323.76 190.96
6 April 2009 323.84 190.96
7 April 2009 322.96 191.08
8 April 2009 310.14 190.95
9 April 2009 275.49 195.06
10 April 2009 275.49 195.06
13 April 2009 268.30 197.99
14 April 2009 256.15 196.14
15 April 2009 254.77 197.99
16 April 2009 232.97 196.14
17 April 2009 222.34 197.99
20 April 2009 260.67 190.77
21 April 2009 259.90 190.72
22 April 2009 269.17 188.87
23 April 2009 264.42 188.39
24 April 2009 262.89 188.20
27 April 2009 272.03 188.14
28 April 2009 285.90 186.29
29 April 2009 260.80 191.51
30 April 2009 266.11 189.73
1 May 2009 273.06 192.26
4 May 2009 264.62 186.13
5 May 2009 256.82 209.50
6 May 2009 220.12 209.00
7 May 2009 204.91 186.75
8 May 2009 177.46 190.95
11 May 2009 184.65 208.50
12 May 2009 176.90 201.50
13 May 2009 199.13 198.00
14 May 2009 196.67 196.00
15 May 2009 194.93 198.00
18 May 2009 180.59 199.00
19 May 2009 165.62 205.00
20 May 2009 151.43 200.19
21 May 2009 157.18 193.50
22 May 2009 152.83 190.50
25 May 2009 152.82 190.50
26 May 2009 150.13 182.60
27 May 2009 145.48 172.63
28 May 2009 149.53 172.63
29 May 2009 144.56 175.54
1 June 2009 131.90 145.15
2 June 2009 124.12 150.04
3 June 2009 151.94 157.54
4 June 2009 158.35 174.05
5 June 2009 157.61 160.05
8 June 2009 163.81 160.03
9 June 2009 155.35 155.01
10 June 2009 150.03 151.29
11 June 2009 146.28 152.56
12 June 2009 149.66 188.00
15 June 2009 159.50 188.00
16 June 2009 188.98 188.00
17 June 2009 187.41 188.00
18 June 2009 190.26 188.00
19 June 2009 188.72 188.00
22 June 2009 193.92 188.00
23 June 2009 198.80 188.00
24 June 2009 195.89 188.00
25 June 2009 194.40 188.00
26 June 2009 192.39 188.00
29 June 2009 182.82 188.00
30 June 2009 175.07 188.00
1 July 2009 165.77 188.00
2 July 2009 173.79 188.00
3 July 2009 173.42 188.00
6 July 2009 177.40 194.00
7 July 2009 179.31 188.00
8 July 2009 179.12 188.00
9 July 2009 177.45 188.00
10 July 2009 177.59 188.00
13 July 2009 175.14 194.00
14 July 2009 171.42 188.00
15 July 2009 163.41 188.00
16 July 2009 159.58 188.00
17 July 2009 149.35 188.00
20 July 2009 133.90 188.00
21 July 2009 136.03 188.00
22 July 2009 139.60 188.00
23 July 2009 132.25 188.00
24 July 2009 133.62 188.00
27 July 2009 130.91 188.00
28 July 2009 131.35 188.00
29 July 2009 126.00 188.00
30 July 2009 114.64 188.00
31 July 2009 118.60 188.00
3 August 2009 116.74 188.00
4 August 2009 119.58 139.96
5 August 2009 119.43 139.96
6 August 2009 116.84 139.96
7 August 2009 116.30 139.93
10 August 2009 118.34 128.00
11 August 2009 136.09 129.24
12 August 2009 146.86 136.44
13 August 2009 145.02 136.53
14 August 2009 155.34 140.93
17 August 2009 164.99 165.92
18 August 2009 152.69 129.37
19 August 2009 157.15 131.85
20 August 2009 156.34 128.69
21 August 2009 146.78 126.05
24 August 2009 147.27 125.35
25 August 2009 146.99 124.73
26 August 2009 146.02 124.72
27 August 2009 147.03 120.90
28 August 2009 145.19 122.65
31 August 2009 150.68 128.10
1 September 2009 153.44 128.11
2 September 2009 154.27 129.39
3 September 2009 153.68 129.39
4 September 2009 153.69 129.38
7 September 2009 153.68 129.38
8 September 2009 144.85 129.37
9 September 2009 143.32 129.37
10 September 2009 139.52 126.88
11 September 2009 130.43 125.62
14 September 2009 132.64 131.91
15 September 2009 120.29 121.85
16 September 2009 101.95 109.28
17 September 2009 104.34 109.29
18 September 2009 105.36 109.28
21 September 2009 109.34 109.31
22 September 2009 104.12 109.30
23 September 2009 102.03 109.30
24 September 2009 104.92 106.72
25 September 2009 113.57 106.72
28 September 2009 110.24 106.72
29 September 2009 110.69 109.22
30 September 2009 112.26 112.97
1 October 2009 120.32 114.22
2 October 2009 120.84 115.51
5 October 2009 113.70 115.51
6 October 2009 112.44 115.51
7 October 2009 116.77 120.59
8 October 2009 117.31 120.45
9 October 2009 117.46 120.38
12 October 2009 117.10 122.52
13 October 2009 117.06 122.13
14 October 2009 112.62 116.76
15 October 2009 114.97 116.75
16 October 2009 115.85 119.27
19 October 2009 112.19 114.23
20 October 2009 105.82 119.27
21 October 2009 105.51 116.70
22 October 2009 103.35 116.70
23 October 2009 97.27 116.70
26 October 2009 95.71 114.23
27 October 2009 98.72 114.23
28 October 2009 114.78 96.55
29 October 2009 106.81 116.78
30 October 2009 115.86 116.78
2 November 2009 118.53 119.28
3 November 2009 122.94 116.34
4 November 2009 120.46 121.76
5 November 2009 120.19 121.77
6 November 2009 118.78 119.19
9 November 2009 113.16 119.19
10 November 2009 110.48 119.10
11 November 2009 110.35 119.10
12 November 2009 109.90 119.01
13 November 2009 109.52 107.45
16 November 2009 109.20 107.27
17 November 2009 110.77 109.79
18 November 2009 111.29 118.50
19 November 2009 116.82 118.50
20 November 2009 116.24 118.50
23 November 2009 113.51 121.96
24 November 2009 117.66 112.73
25 November 2009 114.13 110.13
26 November 2009 114.13 110.03
27 November 2009 120.39 101.77
30 November 2009 121.12 117.00
1 December 2009 114.18 113.96
2 December 2009 113.83 115.06
3 December 2009 106.66 116.01
4 December 2009 106.05 108.55
7 December 2009 105.74 108.81
8 December 2009 103.88 110.80
9 December 2009 101.34 118.07
10 December 2009 97.64 102.50
11 December 2009 94.83 86.76
14 December 2009 85.82 79.45
15 December 2009 86.04 77.69
16 December 2009 88.82 79.91
17 December 2009 96.06 84.83
18 December 2009 96.46 89.88
21 December 2009 96.99 90.26
22 December 2009 96.61 89.27
23 December 2009 97.41 88.87
24 December 2009 97.72 88.71
25 December 2009 97.72 88.71
28 December 2009 95.68 92.29
29 December 2009 94.19 85.79
30 December 2009 94.16 83.77
31 December 2009 94.36 83.76
1 January 2010 94.36 83.76
4 January 2010 90.89 90.00
5 January 2010 93.07 90.00
6 January 2010 94.53 90.00
7 January 2010 96.17 90.00
8 January 2010 96.70 85.90
11 January 2010 92.59 83.15
12 January 2010 95.49 80.53
13 January 2010 95.38 80.62
14 January 2010 102.58 81.82
15 January 2010 111.55 84.27
18 January 2010 111.32 84.26
19 January 2010 106.66 80.83
20 January 2010 106.50 80.31
21 January 2010 120.69 68.84
22 January 2010 128.74 77.42
25 January 2010 128.12 83.98
26 January 2010 121.65 95.80
27 January 2010 125.75 97.10
28 January 2010 127.73 85.35
29 January 2010 126.57 88.68
1 February 2010 119.58 99.94
2 February 2010 113.64 110.09
3 February 2010 110.96 102.17
4 February 2010 128.94 100.61
5 February 2010 128.68 103.09
8 February 2010 134.29 116.37
9 February 2010 136.66 117.05
10 February 2010 139.24 119.55
11 February 2010 142.05 118.07
12 February 2010 145.71 110.50
15 February 2010 145.71 110.51
16 February 2010 139.96 102.02
17 February 2010 136.29 102.13
18 February 2010 130.45 96.00
19 February 2010 125.08 89.00
22 February 2010 125.52 86.30
23 February 2010 129.84 92.52
24 February 2010 134.89 94.45
25 February 2010 139.43 96.63
26 February 2010 138.75 94.71
1 March 2010 134.30 90.15
2 March 2010 131.83 87.90
3 March 2010 130.48 87.64
4 March 2010 132.10 100.57
5 March 2010 125.22 100.56
8 March 2010 120.18 97.80
9 March 2010 116.15 97.17
10 March 2010 113.60 70.55
11 March 2010 113.44 70.88
12 March 2010 110.61 67.39
15 March 2010 114.44 71.70
16 March 2010 112.45 70.38
17 March 2010 105.95 65.86
18 March 2010 110.16 69.76
19 March 2010 114.00 74.25
22 March 2010 114.42 88.05
23 March 2010 110.15 85.56
24 March 2010 108.04 67.30
25 March 2010 104.85 64.68
26 March 2010 106.63 64.96
29 March 2010 104.34 63.69
30 March 2010 107.03 64.54
31 March 2010 109.09 65.10
1 April 2010 108.41 65.03
2 April 2010 108.20 65.03
5 April 2010 105.01 61.71
6 April 2010 104.91 62.88
7 April 2010 106.69 63.20
8 April 2010 109.01 64.02
9 April 2010 107.61 62.97
12 April 2010 105.24 61.73
13 April 2010 103.78 60.77
14 April 2010 99.83 57.99
15 April 2010 94.72 57.99
16 April 2010 119.63 63.45
19 April 2010 129.37 66.35
20 April 2010 121.67 65.92
21 April 2010 135.91 67.40
22 April 2010 140.64 68.49
23 April 2010 145.20 69.82
26 April 2010 161.46 71.66
27 April 2010 167.10 73.20
28 April 2010 149.78 73.65
29 April 2010 128.37 71.16
30 April 2010 152.33 72.52
3 May 2010 147.67 72.38
4 May 2010 154.74 72.80
5 May 2010 165.77 76.38
6 May 2010 204.73 120.76
7 May 2010 194.36 95.03
10 May 2010 167.18 82.58
11 May 2010 156.66 80.44
12 May 2010 147.93 75.63
13 May 2010 147.89 74.67
14 May 2010 158.86 77.86
17 May 2010 158.60 95.29
18 May 2010 170.78 85.42
19 May 2010 174.65 90.17
20 May 2010 185.56 94.19
21 May 2010 177.29 94.06
24 May 2010 180.20 95.06
25 May 2010 184.90 99.57
26 May 2010 176.98 98.40
27 May 2010 163.67 114.36
28 May 2010 159.94 105.00
31 May 2010 159.94 105.00
1 June 2010 165.43 105.00
2 June 2010 161.04 105.00
3 June 2010 155.51 105.00
4 June 2010 163.13 105.00
7 June 2010 174.85 105.00
8 June 2010 181.18 105.00
9 June 2010 181.12 105.00
10 June 2010 195.21 105.00
11 June 2010 187.59 105.00
14 June 2010 179.45 94.59
15 June 2010 164.85 94.17
16 June 2010 154.94 93.98
17 June 2010 156.70 90.10
18 June 2010 152.58 89.78
21 June 2010 154.68 89.44
22 June 2010 169.33 91.58
23 June 2010 177.14 92.87
24 June 2010 178.57 89.44
25 June 2010 166.61 89.08
28 June 2010 167.03 87.06
29 June 2010 174.98 90.84
30 June 2010 169.13 98.71
1 July 2010 174.01 90.51
2 July 2010 170.54 89.28
5 July 2010 170.53 79.14
6 July 2010 169.78 79.14
7 July 2010 165.73 78.12
8 July 2010 160.42 77.78
9 July 2010 153.70 77.87
12 July 2010 151.23 79.46
13 July 2010 144.56 74.68
14 July 2010 152.14 73.99
15 July 2010 142.58 73.55
16 July 2010 156.00 73.99
19 July 2010 155.75 73.99
20 July 2010 155.97 72.96
21 July 2010 156.26 73.67
22 July 2010 151.30 74.53
23 July 2010 148.44 74.53
26 July 2010 142.57 73.14
27 July 2010 137.12 72.36
28 July 2010 144.88 74.30
29 July 2010 143.54 74.12
30 July 2010 150.67 75.45
2 August 2010 138.27 71.02
3 August 2010 134.33 70.22
4 August 2010 136.70 70.42
5 August 2010 140.20 73.50
6 August 2010 146.65 75.48
9 August 2010 146.66 76.34
10 August 2010 154.10 84.61
11 August 2010 164.54 91.42
12 August 2010 163.94 91.59
13 August 2010 155.61 89.53
16 August 2010 158.57 91.01
17 August 2010 153.49 87.69
18 August 2010 151.94 87.51
19 August 2010 155.62 90.81
20 August 2010 163.14 93.91
23 August 2010 161.95 103.79
24 August 2010 169.15 106.15
25 August 2010 170.02 107.28
26 August 2010 178.48 105.52
27 August 2010 176.88 107.94
30 August 2010 178.74 109.40
31 August 2010 180.59 109.91
1 September 2010 172.47 88.72
2 September 2010 166.88 90.12
3 September 2010 159.67 84.88
6 September 2010 159.51 85.27
7 September 2010 164.03 87.82
8 September 2010 159.37 86.40
9 September 2010 157.11 85.34
10 September 2010 152.32 84.74
13 September 2010 149.50 82.43
14 September 2010 152.53 84.98
15 September 2010 152.46 83.64
16 September 2010 152.94 84.35
17 September 2010 151.94 85.89
20 September 2010 149.14 84.10
21 September 2010 147.53 82.99
22 September 2010 153.69 85.85
23 September 2010 161.79 89.32
24 September 2010 158.88 84.20
27 September 2010 157.76 84.49
28 September 2010 160.01 86.93
29 September 2010 156.67 85.09
30 September 2010 156.64 82.44
1 October 2010 154.36 82.33
4 October 2010 156.63 82.62
5 October 2010 148.50 82.27
6 October 2010 145.49 81.99
7 October 2010 144.71 81.71
8 October 2010 145.13 77.21
11 October 2010 145.55 77.03
12 October 2010 151.04 79.81
13 October 2010 154.20 82.20
14 October 2010 160.56 83.24
15 October 2010 161.54 86.48
18 October 2010 152.17 88.20
19 October 2010 154.12 90.52
20 October 2010 152.74 96.24
21 October 2010 150.40 99.23
22 October 2010 146.12 98.20
25 October 2010 137.28 94.50
26 October 2010 129.85 84.74
27 October 2010 131.09 86.01
28 October 2010 136.10 87.15
29 October 2010 140.68 92.23
1 November 2010 141.04 87.86
2 November 2010 135.41 90.17
3 November 2010 132.60 91.56
4 November 2010 125.59 82.96
5 November 2010 125.60 86.32
8 November 2010 129.26 87.06
9 November 2010 135.12 88.45
10 November 2010 136.51 89.99
11 November 2010 136.37 90.00
12 November 2010 142.28 94.13
15 November 2010 138.78 87.89
16 November 2010 143.03 94.42
17 November 2010 139.56 87.66
18 November 2010 134.95 86.76
19 November 2010 136.02 87.77
22 November 2010 141.27 89.74
23 November 2010 149.27 92.20
24 November 2010 145.29 97.93
25 November 2010 145.86 100.99
26 November 2010 151.42 103.89
29 November 2010 155.99 106.28
30 November 2010 164.89 104.78
1 December 2010 153.91 104.51
2 December 2010 145.93 102.19
3 December 2010 143.91 96.86
6 December 2010 142.59 96.94
7 December 2010 134.28 96.98
8 December 2010 136.45 97.00
9 December 2010 133.49 97.01
10 December 2010 133.77 97.01
13 December 2010 131.37 95.35
14 December 2010 132.03 95.47
15 December 2010 133.91 95.54
16 December 2010 132.24 95.58
17 December 2010 130.83 95.60
20 December 2010 135.04 93.43
21 December 2010 135.27 92.71
22 December 2010 134.78 94.80
23 December 2010 136.46 95.67
24 December 2010 136.26 95.96
27 December 2010 136.51 93.72
28 December 2010 135.90 93.22
29 December 2010 133.77 95.43
30 December 2010 133.73 96.20
31 December 2010 134.75 96.30
3 January 2011 126.34 96.46
4 January 2011 126.99 96.54
5 January 2011 127.94 97.33
6 January 2011 136.97 97.73
7 January 2011 143.25 97.93
10 January 2011 144.74 98.03
11 January 2011 138.32 98.08
12 January 2011 131.62 98.10
13 January 2011 135.17 98.12
14 January 2011 132.53 98.13
17 January 2011 133.06 98.13
18 January 2011 132.61 98.13
19 January 2011 135.88 97.23
20 January 2011 134.42 98.13
21 January 2011 130.25 98.38
24 January 2011 129.88 98.51
25 January 2011 133.45 98.82
26 January 2011 130.11 98.98
27 January 2011 127.94 99.06
28 January 2011 128.44 99.10
31 January 2011 126.10 99.12
1 February 2011 119.87 99.25
2 February 2011 120.00 98.81
3 February 2011 118.50 98.97
4 February 2011 116.40 98.87
7 February 2011 115.83 98.94
8 February 2011 112.48 99.47
9 February 2011 115.73 99.73
10 February 2011 118.04 99.87
11 February 2011 117.04 99.93
14 February 2011 116.69 99.97
15 February 2011 116.94 99.98
16 February 2011 114.23 99.49
17 February 2011 114.49 99.25
18 February 2011 113.87 100.44
21 February 2011 113.86 100.55
22 February 2011 120.93 101.85
23 February 2011 126.29 99.77
24 February 2011 127.42 99.88
25 February 2011 121.68 99.94
28 February 2011 118.84 99.97
1 March 2011 122.57 99.99
2 March 2011 120.15 99.49
3 March 2011 117.14 99.25
4 March 2011 118.33 99.13
7 March 2011 120.46 99.07
8 March 2011 117.64 99.03
9 March 2011 120.57 99.02
10 March 2011 125.23 99.51
11 March 2011 124.41 99.75
14 March 2011 125.28 99.88
15 March 2011 128.86 99.94
16 March 2011 129.97 99.97
17 March 2011 127.72 99.98
18 March 2011 121.69 99.49
21 March 2011 119.98 79.69
22 March 2011 120.15 83.05
23 March 2011 120.53 84.57
24 March 2011 117.36 78.15
25 March 2011 116.95 78.40
28 March 2011 118.04 78.07
29 March 2011 116.39 75.28
30 March 2011 117.57 73.57
31 March 2011 119.23 73.56
1 April 2011 117.42 72.98
4 April 2011 116.19 72.83
5 April 2011 117.06 72.72
6 April 2011 115.22 72.26
7 April 2011 114.92 72.61
8 April 2011 114.66 72.87
11 April 2011 112.90 73.01
12 April 2011 114.80 73.11
13 April 2011 113.82 85.53
14 April 2011 117.60 86.80
15 April 2011 118.32 87.71
18 April 2011 122.77 88.15
19 April 2011 119.24 88.37
20 April 2011 118.56 88.47
21 April 2011 117.67 88.28
22 April 2011 117.68 88.28
25 April 2011 116.90 88.53
26 April 2011 116.44 88.57
27 April 2011 117.74 88.83
28 April 2011 117.36 88.97
29 April 2011 116.08 78.86
2 May 2011 115.46 78.86
3 May 2011 117.28 79.03
4 May 2011 118.11 79.11
5 May 2011 119.30 80.65
6 May 2011 119.05 81.42
9 May 2011 120.11 81.81
10 May 2011 119.93 81.99
11 May 2011 119.87 83.10
12 May 2011 122.89 83.65
13 May 2011 126.68 83.93
16 May 2011 128.35 84.07
17 May 2011 130.26 84.64
18 May 2011 130.47 84.91
19 May 2011 127.38 85.06
20 May 2011 130.29 85.14
23 May 2011 132.87 85.67
24 May 2011 133.14 86.44
25 May 2011 135.48 86.83
26 May 2011 133.57 87.03
27 May 2011 132.82 87.12
30 May 2011 132.71 87.17
31 May 2011 130.93 87.70
1 June 2011 137.75 93.98
2 June 2011 143.54 94.55
3 June 2011 142.62 94.84
6 June 2011 146.46 95.23
7 June 2011 146.55 95.23
8 June 2011 152.41 95.42
9 June 2011 149.67 96.02
10 June 2011 152.23 96.32
13 June 2011 152.04 96.47
14 June 2011 142.35 95.79
15 June 2011 148.35 96.71
16 June 2011 153.62 97.17
17 June 2011 148.22 97.40
20 June 2011 150.45 95.00
21 June 2011 143.71 92.33
22 June 2011 151.76 95.28
23 June 2011 155.84 95.30
24 June 2011 157.17 95.18
27 June 2011 157.63 97.25
28 June 2011 153.03 95.42
29 June 2011 143.16 99.54
30 June 2011 134.67 100.11
1 July 2011 129.61 100.18
4 July 2011 129.59 100.23
5 July 2011 131.37 97.31
6 July 2011 136.56 98.01
7 July 2011 132.65 99.33
8 July 2011 135.03 99.78
11 July 2011 145.16 99.93
12 July 2011 145.37 99.70
13 July 2011 146.65 99.63
14 July 2011 146.54 99.60
15 July 2011 150.01 99.74
18 July 2011 157.35 99.79
19 July 2011 153.91 98.03
20 July 2011 147.52 98.03
21 July 2011 139.86 98.03
22 July 2011 138.74 98.03
25 July 2011 142.06 98.03
26 July 2011 142.93 98.03
27 July 2011 149.39 97.81
28 July 2011 145.50 97.73
29 July 2011 148.98 97.70
1 August 2011 143.84 97.76
2 August 2011 148.60 97.79
3 August 2011 146.75 101.83
4 August 2011 161.11 103.50
5 August 2011 163.49 104.47
8 August 2011 210.46 116.70
9 August 2011 185.07 111.22
10 August 2011 191.23 114.85
11 August 2011 200.56 114.24
12 August 2011 195.37 114.53
15 August 2011 184.44 111.71
16 August 2011 191.99 112.84
17 August 2011 183.36 111.34
18 August 2011 204.57 115.10
19 August 2011 214.91 116.91
22 August 2011 239.54 119.75
23 August 2011 242.84 121.31
24 August 2011 242.63 120.20
25 August 2011 226.33 117.40
26 August 2011 232.09 120.22
29 August 2011 212.83 115.86
30 August 2011 207.47 114.46
31 August 2011 194.54 110.91
1 September 2011 204.38 112.60
2 September 2011 222.73 115.20
5 September 2011 223.29 115.18
6 September 2011 236.72 118.17
7 September 2011 221.43 115.11
8 September 2011 227.60 115.35
9 September 2011 248.01 118.78
12 September 2011 266.40 120.35
13 September 2011 247.55 116.23
14 September 2011 227.75 113.92
15 September 2011 218.78 112.79
16 September 2011 221.82 112.33
19 September 2011 228.49 115.12
20 September 2011 232.12 112.06
21 September 2011 260.87 114.67
22 September 2011 281.17 118.39
23 September 2011 287.39 116.00
26 September 2011 277.75 113.83
27 September 2011 271.60 110.96
28 September 2011 284.20 121.09
29 September 2011 298.42 120.13
30 September 2011 319.76 125.91
3 October 2011 363.78 135.42
4 October 2011 387.74 139.05
5 October 2011 368.43 133.99
6 October 2011 334.12 127.69
7 October 2011 327.62 123.57
10 October 2011 323.83 123.38
11 October 2011 292.51 123.32
12 October 2011 263.07 120.75
13 October 2011 293.63 122.12
14 October 2011 290.13 122.57
17 October 2011 317.49 124.16
18 October 2011 291.65 125.24
19 October 2011 280.52 125.26
20 October 2011 293.54 125.27
21 October 2011 280.53 125.68
24 October 2011 270.51 125.69
25 October 2011 271.91 125.78
26 October 2011 268.73 125.82
27 October 2011 227.23 111.30
28 October 2011 231.25 111.56
31 October 2011 254.24 116.45
1 November 2011 276.40 117.51
2 November 2011 264.27 110.23
3 November 2011 262.08 107.64
4 November 2011 273.59 108.29
7 November 2011 276.65 108.73
8 November 2011 273.20 108.99
9 November 2011 306.28 111.06
10 November 2011 299.87 110.29
11 November 2011 299.87 110.32
14 November 2011 295.77 110.26
15 November 2011 304.59 109.96
16 November 2011 319.89 112.60
17 November 2011 335.13 114.04
18 November 2011 332.17 114.51
21 November 2011 341.58 115.66
22 November 2011 348.24 117.14
23 November 2011 369.84 124.99
24 November 2011 369.83 124.98
25 November 2011 370.59 125.31
28 November 2011 345.46 119.89
29 November 2011 353.49 122.81
30 November 2011 324.55 122.86
1 December 2011 309.28 122.37
2 December 2011 280.99 121.25
5 December 2011 268.81 119.66
6 December 2011 271.59 119.22
7 December 2011 265.90 114.86
8 December 2011 282.38 114.76
9 December 2011 282.60 118.39
12 December 2011 296.61 119.49
13 December 2011 290.98 120.23
14 December 2011 295.78 123.16
15 December 2011 291.88 122.60
16 December 2011 295.79 122.69
19 December 2011 305.68 123.78
20 December 2011 300.04 122.71
21 December 2011 298.38 122.71
22 December 2011 292.43 124.84
23 December 2011 294.19 122.96
26 December 2011 294.16 122.80
27 December 2011 295.03 122.44
28 December 2011 299.70 123.31
29 December 2011 301.46 123.55
30 December 2011 301.17 124.34
2 January 2012 301.39 124.61
3 January 2012 291.58 122.68
4 January 2012 299.04 123.59
5 January 2012 299.47 122.70
6 January 2012 291.24 121.80
9 January 2012 287.25 121.57
10 January 2012 273.91 120.32
11 January 2012 273.68 119.07
12 January 2012 260.08 118.94
13 January 2012 266.84 120.38
16 January 2012 267.45 120.36
17 January 2012 267.84 119.10
18 January 2012 253.27 113.26
19 January 2012 234.12 113.23
20 January 2012 234.87 113.24
23 January 2012 224.78 113.77
24 January 2012 224.34 113.77
25 January 2012 222.56 113.76
26 January 2012 221.74 113.77
27 January 2012 225.23 113.77
30 January 2012 236.66 113.11
31 January 2012 232.93 118.54
1 February 2012 225.20 116.74
2 February 2012 224.95 108.92
3 February 2012 209.47 109.02
6 February 2012 204.02 108.10
7 February 2012 202.16 107.05
8 February 2012 199.48 107.93
9 February 2012 212.30 108.76
10 February 2012 229.46 111.00
13 February 2012 234.44 114.23
14 February 2012 246.01 114.23
15 February 2012 261.84 112.66
16 February 2012 247.98 111.65
17 February 2012 244.92 111.66
20 February 2012 244.92 111.67
21 February 2012 242.86 111.67
22 February 2012 252.51 111.60
23 February 2012 253.01 111.50
24 February 2012 251.42 111.48
27 February 2012 249.21 109.15
28 February 2012 235.23 107.86
29 February 2012 228.75 107.82
1 March 2012 212.11 110.05
2 March 2012 214.69 110.07
5 March 2012 231.29 109.97
6 March 2012 244.45 108.29
7 March 2012 231.72 110.02
8 March 2012 229.50 110.96
9 March 2012 229.61 110.96
12 March 2012 232.31 110.96
13 March 2012 218.85 110.80
14 March 2012 210.43 109.79
15 March 2012 204.15 109.91
16 March 2012 193.81 109.94
19 March 2012 186.94 102.45
20 March 2012 194.25 109.87
21 March 2012 187.62 109.51
22 March 2012 196.70 109.35
23 March 2012 203.02 95.51
26 March 2012 190.39 95.47
27 March 2012 194.61 95.55
28 March 2012 201.66 96.47
29 March 2012 210.04 98.38
30 March 2012 210.53 98.07
2 April 2012 212.81 98.25
3 April 2012 216.23 98.35
4 April 2012 225.29 98.47
5 April 2012 237.16 98.54
6 April 2012 242.37 98.93
9 April 2012 256.33 100.39
10 April 2012 278.82 108.71
11 April 2012 268.98 100.44
12 April 2012 249.32 100.43
13 April 2012 259.73 102.15
16 April 2012 259.30 103.25
17 April 2012 247.69 102.15
18 April 2012 251.88 104.15
19 April 2012 249.29 104.15
20 April 2012 248.82 103.16
23 April 2012 257.32 102.67
24 April 2012 254.72 102.42
25 April 2012 247.16 102.43
26 April 2012 245.03 102.83
27 April 2012 242.65 103.06
30 April 2012 243.22 101.58
1 May 2012 233.48 101.59
2 May 2012 237.05 103.20
3 May 2012 236.80 103.20
4 May 2012 245.49 103.18
7 May 2012 246.13 107.03
8 May 2012 251.11 107.49
9 May 2012 250.70 107.54
10 May 2012 252.36 110.89
11 May 2012 260.01 110.91
14 May 2012 269.57 114.25
15 May 2012 275.99 110.45
16 May 2012 278.83 109.95
17 May 2012 288.02 110.25
18 May 2012 286.52 110.25
21 May 2012 277.67 110.25
22 May 2012 265.71 111.20
23 May 2012 274.87 110.20
24 May 2012 273.01 110.20
25 May 2012 273.38 110.20
28 May 2012 274.37 110.20
29 May 2012 265.97 110.80
30 May 2012 278.04 110.20
31 May 2012 281.64 111.21
1 June 2012 289.97 112.90
4 June 2012 290.70 114.14
5 June 2012 288.55 109.63
6 June 2012 272.69 104.97
7 June 2012 271.57 104.97
8 June 2012 271.22 107.95
11 June 2012 278.13 108.27
12 June 2012 280.55 108.27
13 June 2012 277.32 108.86
14 June 2012 269.97 108.86
15 June 2012 262.51 118.31
18 June 2012 268.21 118.15
19 June 2012 253.77 115.72
20 June 2012 255.88 113.87
21 June 2012 260.82 113.87
22 June 2012 249.70 113.43
25 June 2012 262.69 113.14
26 June 2012 261.75 113.29
27 June 2012 258.05 111.52
28 June 2012 264.24 112.32
29 June 2012 253.22 110.83
2 July 2012 244.77 110.16
3 July 2012 234.97 109.16
4 July 2012 234.78 109.16
5 July 2012 238.28 109.16
6 July 2012 244.14 109.84
9 July 2012 251.83 109.84
10 July 2012 251.73 110.02
11 July 2012 252.96 110.02
12 July 2012 248.73 109.61
13 July 2012 241.68 109.67
16 July 2012 243.18 107.44
17 July 2012 241.24 107.32
18 July 2012 236.42 106.69
19 July 2012 244.28 108.99
20 July 2012 255.16 111.06
23 July 2012 263.31 111.06
24 July 2012 271.27 111.88
25 July 2012 270.04 112.29
26 July 2012 258.22 110.44
27 July 2012 241.87 106.09
30 July 2012 241.04 107.63
31 July 2012 241.45 107.01
1 August 2012 238.71 110.35
2 August 2012 253.27 108.29
3 August 2012 236.78 107.45
6 August 2012 223.77 110.06
7 August 2012 227.13 105.35
8 August 2012 233.76 109.22
9 August 2012 232.64 109.50
10 August 2012 230.95 109.50
13 August 2012 228.19 109.50
14 August 2012 221.36 108.65
15 August 2012 223.45 108.65
16 August 2012 223.17 108.66
17 August 2012 224.08 108.65
20 August 2012 217.88 109.21
21 August 2012 211.71 108.37
22 August 2012 217.09 108.93
23 August 2012 222.80 109.78
24 August 2012 226.29 110.06
27 August 2012 223.28 106.59
28 August 2012 222.18 106.17
29 August 2012 218.09 106.19
30 August 2012 222.60 106.19
31 August 2012 216.18 106.19
3 September 2012 216.73 106.19
4 September 2012 209.06 104.50
5 September 2012 208.43 112.35
6 September 2012 188.88 104.51
7 September 2012 175.58 112.34
10 September 2012 176.37 104.88
11 September 2012 171.64 112.36
12 September 2012 165.77 112.36
13 September 2012 157.06 112.35
14 September 2012 146.59 102.63
17 September 2012 150.50 103.20
18 September 2012 154.52 104.33
19 September 2012 157.82 104.89
20 September 2012 167.66 104.50
21 September 2012 165.04 105.67
24 September 2012 173.03 108.07
25 September 2012 182.99 103.99
26 September 2012 186.76 104.21
27 September 2012 171.91 103.30
28 September 2012 170.88 103.41
1 October 2012 165.88 103.41
2 October 2012 165.77 103.21
3 October 2012 165.05 102.93
4 October 2012 157.78 102.01
5 October 2012 151.74 101.44
8 October 2012 152.37 101.44
9 October 2012 158.49 102.33
10 October 2012 160.95 102.80
11 October 2012 158.47 102.80
12 October 2012 157.88 102.51
15 October 2012 152.68 102.37
16 October 2012 145.13 99.53
17 October 2012 135.46 99.38
18 October 2012 140.89 100.73
19 October 2012 147.88 101.83
22 October 2012 150.10 102.67
23 October 2012 153.91 103.46
24 October 2012 151.93 103.85
25 October 2012 150.57 104.19
26 October 2012 154.75 104.05
29 October 2012 156.31 104.06
30 October 2012 156.32 104.07
31 October 2012 153.82 104.07
1 November 2012 149.51 103.59
2 November 2012 148.37 102.17
5 November 2012 150.79 101.45
6 November 2012 148.32 103.71
7 November 2012 156.28 103.70
8 November 2012 158.48 101.20
9 November 2012 158.41 103.71
12 November 2012 158.40 103.71
13 November 2012 153.24 101.95
14 November 2012 149.61 101.71
15 November 2012 154.40 101.95
16 November 2012 153.90 100.00
19 November 2012 146.12 101.23
20 November 2012 146.39 101.23
21 November 2012 145.38 101.23
22 November 2012 145.38 101.23
23 November 2012 143.72 101.23
26 November 2012 143.11 101.23
27 November 2012 142.96 101.23
28 November 2012 144.67 101.23
29 November 2012 142.15 101.23
30 November 2012 141.85 101.23
3 December 2012 140.06 103.71
4 December 2012 139.27 103.71
5 December 2012 137.09 103.71
6 December 2012 136.47 103.71
7 December 2012 136.35 103.71
10 December 2012 135.98 103.71
11 December 2012 131.95 103.71
12 December 2012 128.85 103.71
13 December 2012 126.08 103.71
14 December 2012 125.16 103.71
17 December 2012 123.18 103.10
18 December 2012 117.16 103.10
19 December 2012 117.60 101.78
20 December 2012 120.36 101.48
21 December 2012 124.77 101.47
24 December 2012 125.15 101.48
25 December 2012 125.15 101.80
26 December 2012 126.20 100.50
27 December 2012 129.00 97.98
28 December 2012 130.15 100.37
31 December 2012 129.97 99.28
1 January 2013 129.74 99.80
2 January 2013 116.79 98.69
3 January 2013 117.62 86.04
4 January 2013 116.15 97.73
7 January 2013 109.26 97.79
8 January 2013 110.13 97.79
9 January 2013 111.20 97.80
10 January 2013 110.65 97.81
11 January 2013 112.24 97.81
14 January 2013 117.34 97.81
15 January 2013 120.39 97.81
16 January 2013 119.55 97.81
17 January 2013 117.55 97.82
18 January 2013 118.25 97.81
21 January 2013 118.11 97.82
22 January 2013 116.14 97.78
23 January 2013 114.95 97.78
24 January 2013 113.62 97.79
25 January 2013 110.39 97.79
28 January 2013 109.53 97.79
29 January 2013 108.74 97.79
30 January 2013 111.06 97.31
31 January 2013 112.35 97.31
1 February 2013 110.43 97.31
4 February 2013 113.46 97.79
5 February 2013 113.62 97.79
6 February 2013 115.23 91.31
7 February 2013 119.45 91.31
8 February 2013 119.38 91.15
11 February 2013 118.80 90.86
12 February 2013 117.38 90.84
13 February 2013 113.88 85.74
14 February 2013 113.29 85.74
15 February 2013 113.05 85.88
18 February 2013 113.25 85.93
19 February 2013 112.83 85.95
20 February 2013 113.14 85.95
21 February 2013 116.25 85.96

Note: The data are daily and extend through February 21, 2013. Median spreads for six large bank holding companies and nine other banks.

Source: Markit.

Return to text

Figure 18. Government debt spreads for peripheral European economies, 2009-13

Percent

Period Greece Ireland Italy Portugal Spain
9 January 2009 2.16 1.47 1.29 0.99 0.82
16 January 2009 2.45 1.74 1.45 1.19 1.05
23 January 2009 2.77 2.46 1.52 1.44 1.19
30 January 2009 2.65 2.39 1.49 1.34 1.12
6 February 2009 2.40 2.13 1.24 1.16 1.03
13 February 2009 2.48 2.18 1.31 1.19 1.07
20 February 2009 2.80 2.56 1.49 1.53 1.22
27 February 2009 2.47 2.48 1.53 1.49 1.17
6 March 2009 2.70 2.64 1.54 1.66 1.12
13 March 2009 2.84 2.72 1.49 1.70 1.03
20 March 2009 2.79 2.70 1.33 1.54 1.01
27 March 2009 2.56 2.39 1.28 1.47 0.99
3 April 2009 2.65 2.28 1.32 1.50 1.02
10 April 2009 2.37 ND 1.20 1.37 0.91
17 April 2009 2.29 ND 1.16 1.36 0.89
24 April 2009 2.20 2.05 1.14 1.29 0.83
1 May 2009 2.15 ND 1.13 1.19 0.78
8 May 2009 1.89 1.84 0.92 0.93 0.67
15 May 2009 1.82 1.80 0.93 0.86 0.64
22 May 2009 1.72 1.83 0.89 0.81 0.68
29 May 2009 1.76 1.82 0.85 0.78 0.67
5 June 2009 1.87 1.99 0.88 0.86 0.75
12 June 2009 1.82 2.04 1.04 0.92 0.74
19 June 2009 1.74 2.06 1.09 0.96 0.79
26 June 2009 1.80 2.34 1.13 1.01 0.76
3 July 2009 ND ND ND ND ND
10 July 2009 1.67 2.19 1.14 1.03 0.77
17 July 2009 1.64 2.13 1.11 0.98 0.77
24 July 2009 1.39 1.90 0.93 0.79 0.62
31 July 2009 1.26 1.69 0.85 0.64 0.56
7 August 2009 1.16 1.61 0.79 0.60 0.54
14 August 2009 1.13 1.52 0.74 0.57 0.47
21 August 2009 1.26 1.60 0.82 0.64 0.52
28 August 2009 1.19 1.58 0.80 0.61 0.50
4 September 2009 1.35 1.72 0.87 0.71 0.60
11 September 2009 1.37 1.74 0.84 0.68 0.61
18 September 2009 1.21 1.63 0.74 0.59 0.54
25 September 2009 1.17 1.55 0.73 0.57 0.51
2 October 2009 1.30 1.61 0.84 0.64 0.59
9 October 2009 1.30 1.70 0.89 0.64 0.62
16 October 2009 1.32 1.65 0.90 0.63 0.61
23 October 2009 1.33 1.61 0.85 0.56 0.55
30 October 2009 1.37 1.59 0.83 0.55 0.54
6 November 2009 1.39 1.56 0.80 0.51 0.54
13 November 2009 1.36 1.52 0.73 0.45 0.50
20 November 2009 1.60 1.60 0.77 0.51 0.54
27 November 2009 1.83 1.72 0.83 0.57 0.58
4 December 2009 1.75 1.76 0.82 0.57 0.57
11 December 2009 2.20 1.87 0.83 0.69 0.63
18 December 2009 2.46 1.73 0.82 0.70 0.63
25 December 2009 2.50 ND 0.76 0.72 0.66
1 January 2010 2.38 ND 0.74 0.68 0.59
8 January 2010 2.27 1.56 0.72 0.67 0.60
15 January 2010 2.52 1.67 0.77 0.79 0.66
22 January 2010 2.84 1.70 0.84 1.01 0.77
29 January 2010 3.44 1.65 0.88 1.08 0.88
5 February 2010 3.50 1.69 0.89 1.43 0.91
12 February 2010 3.08 1.67 0.87 1.38 0.85
19 February 2010 3.18 1.62 0.84 1.19 0.79
26 February 2010 3.34 1.62 0.88 1.13 0.76
5 March 2010 2.99 1.52 0.84 0.94 0.73
12 March 2010 3.10 1.42 0.79 0.97 0.69
19 March 2010 3.09 1.38 0.81 1.15 0.74
26 March 2010 3.22 1.51 0.82 1.23 0.74
2 April 2010 3.37 ND 0.84 1.12 0.71
9 April 2010 3.92 ND 0.87 1.16 0.74
16 April 2010 3.88 1.46 0.84 1.26 0.71
23 April 2010 5.14 1.64 0.91 1.72 0.83
30 April 2010 6.42 2.14 1.03 2.45 1.04
7 May 2010 7.47 2.64 1.23 2.87 1.34
14 May 2010 4.58 1.95 1.00 1.67 1.00
21 May 2010 5.05 2.06 1.15 1.87 1.26
28 May 2010 5.06 2.32 1.37 2.02 1.51
4 June 2010 5.31 2.46 1.57 2.26 1.76
11 June 2010 5.58 2.73 1.60 2.62 1.98
18 June 2010 6.43 2.94 1.36 2.82 2.06
25 June 2010 7.43 2.94 1.37 3.02 1.82
2 July 2010 7.82 3.08 1.52 3.04 1.99
9 July 2010 7.61 2.89 1.45 2.79 2.06
16 July 2010 7.62 2.96 1.46 2.86 2.00
23 July 2010 7.78 2.94 1.36 2.84 1.69
30 July 2010 7.54 2.62 1.24 2.48 1.48
6 August 2010 7.57 2.55 1.26 2.50 1.52
13 August 2010 7.88 2.94 1.37 2.66 1.69
20 August 2010 8.35 3.17 1.47 2.86 1.76
27 August 2010 9.05 3.50 1.57 3.17 1.84
3 September 2010 9.12 3.67 1.58 3.28 1.81
10 September 2010 9.36 3.82 1.48 3.44 1.74
17 September 2010 9.05 3.71 1.47 3.43 1.75
24 September 2010 8.82 4.15 1.54 3.93 1.79
1 October 2010 8.33 4.40 1.64 4.10 1.88
8 October 2010 7.65 4.17 1.53 3.95 1.77
15 October 2010 6.68 4.06 1.45 3.78 1.70
22 October 2010 6.68 3.85 1.37 3.28 1.64
29 October 2010 7.56 4.10 1.36 3.29 1.62
5 November 2010 8.57 4.85 1.52 3.92 1.87
12 November 2010 9.02 5.60 1.67 4.43 2.06
19 November 2010 8.93 5.31 1.59 4.11 2.00
26 November 2010 9.20 5.81 1.65 4.26 2.34
3 December 2010 8.96 5.86 1.75 3.77 2.49
10 December 2010 8.73 4.95 1.59 3.13 2.31
17 December 2010 8.80 5.05 1.58 3.38 2.47
24 December 2010 9.08 ND 1.69 3.59 2.51
31 December 2010 9.41 ND 1.80 3.64 2.47
7 January 2011 9.69 5.91 1.81 3.88 2.49
14 January 2011 8.57 5.47 1.77 3.86 2.45
21 January 2011 8.24 5.35 1.63 3.81 2.25
28 January 2011 8.23 5.45 1.60 3.89 2.23
4 February 2011 7.78 5.37 1.40 3.76 1.98
11 February 2011 8.01 5.31 1.47 3.99 2.04
18 February 2011 8.50 5.49 1.53 4.19 2.14
25 February 2011 8.64 5.61 1.68 4.33 2.22
4 March 2011 8.85 5.64 1.62 4.26 2.14
11 March 2011 9.46 5.72 1.67 4.32 2.19
18 March 2011 9.20 5.79 1.56 4.30 2.05
25 March 2011 9.24 5.97 1.50 4.34 1.92
1 April 2011 9.40 6.08 1.46 4.85 1.90
8 April 2011 9.34 5.53 1.33 5.21 1.84
15 April 2011 9.72 5.29 1.27 5.34 1.85
22 April 2011 11.45 ND 1.49 6.02 2.23
29 April 2011 12.30 ND 1.52 6.34 2.17
6 May 2011 12.23 6.21 1.45 6.35 2.01
13 May 2011 12.43 ND 1.52 6.35 2.16
20 May 2011 12.82 6.33 1.57 6.03 2.26
27 May 2011 13.64 6.89 1.73 6.65 2.37
3 June 2011 13.16 6.90 1.72 6.70 2.31
10 June 2011 13.22 6.82 1.72 7.07 2.34
17 June 2011 14.43 7.34 1.85 7.82 2.59
24 June 2011 14.04 7.50 1.98 8.33 2.67
1 July 2011 13.47 7.61 1.96 8.25 2.57
8 July 2011 13.72 7.96 2.14 9.22 2.61
15 July 2011 14.37 9.25 2.92 10.02 3.22
22 July 2011 14.19 8.67 2.85 9.20 3.22
29 July 2011 12.11 7.45 3.08 8.25 3.35
5 August 2011 12.62 7.09 3.72 8.70 3.83
12 August 2011 13.02 6.71 2.83 8.16 2.76
19 August 2011 13.67 6.84 2.76 8.31 2.77
26 August 2011 15.50 ND 2.88 8.90 2.84
2 September 2011 15.79 6.14 3.01 8.31 2.90
9 September 2011 18.13 6.43 3.55 9.10 3.28
16 September 2011 21.71 6.43 3.76 9.45 3.51
23 September 2011 21.64 6.54 3.91 9.86 3.57
30 September 2011 21.22 5.80 3.66 9.62 3.17
7 October 2011 21.28 5.53 3.64 9.35 3.20
14 October 2011 21.87 5.64 3.58 9.42 2.98
21 October 2011 22.04 5.99 3.84 9.98 3.36
28 October 2011 21.91 5.82 3.82 10.09 3.36
4 November 2011 23.44 6.01 4.34 9.98 3.65
11 November 2011 26.19 6.10 5.01 9.84 3.97
18 November 2011 26.68 6.02 5.00 9.48 4.50
25 November 2011 27.08 6.40 4.88 9.66 4.54
2 December 2011 29.25 6.59 4.72 11.57 3.88
9 December 2011 31.72 6.32 3.99 10.97 3.33
16 December 2011 32.73 6.37 4.69 11.07 3.63
23 December 2011 33.07 6.29 4.89 11.21 3.32
30 December 2011 33.12 ND 5.13 11.40 3.34
6 January 2012 32.99 6.17 5.11 11.49 3.55
13 January 2012 33.11 5.97 5.08 10.91 3.52
20 January 2012 32.09 5.65 4.61 12.65 3.41
27 January 2012 31.66 5.35 4.16 12.72 3.37
3 February 2012 32.40 5.34 3.96 13.61 3.11
10 February 2012 31.40 5.11 3.63 11.38 3.21
17 February 2012 31.48 5.12 3.73 10.19 3.41
24 February 2012 32.05 5.07 3.57 10.57 3.17
2 March 2012 33.67 5.13 3.34 11.62 3.14
9 March 2012 34.76 5.20 3.12 12.09 3.26
16 March 2012 16.49 5.06 2.97 11.78 3.24
23 March 2012 16.72 4.99 3.01 10.84 3.37
30 March 2012 18.61 5.04 3.26 9.71 3.51
6 April 2012 ND ND ND ND ND
13 April 2012 ND ND 3.78 10.68 4.15
20 April 2012 19.44 5.17 3.85 10.58 4.22
27 April 2012 19.44 5.16 3.97 9.46 4.18
4 May 2012 18.78 ND 3.88 9.11 4.16
11 May 2012 22.21 5.28 3.95 9.68 4.39
18 May 2012 27.39 5.65 4.36 10.23 4.84
25 May 2012 28.41 5.76 4.25 10.93 4.80
1 June 2012 28.79 5.88 4.54 10.74 5.26
8 June 2012 28.12 5.86 4.40 10.31 4.97
15 June 2012 27.17 5.76 4.67 9.21 5.32
22 June 2012 25.25 5.61 4.32 8.69 5.27
29 June 2012 25.17 ND 4.56 8.44 5.24
6 July 2012 24.46 4.80 4.38 8.69 5.11
13 July 2012 24.17 4.94 4.68 9.18 5.47
20 July 2012 23.73 4.98 4.87 9.31 5.77
27 July 2012 26.23 4.97 5.00 9.90 5.96
3 August 2012 24.32 4.85 4.75 9.77 5.49
10 August 2012 23.07 4.79 4.50 8.68 5.42
17 August 2012 22.97 4.69 4.32 8.38 5.15
24 August 2012 22.55 4.67 4.25 7.93 4.85
31 August 2012 22.49 4.75 4.44 8.09 5.21
7 September 2012 20.59 4.62 3.99 7.38 4.83
14 September 2012 19.55 ND 3.47 6.58 4.09
21 September 2012 18.83 3.81 3.40 6.95 4.20
28 September 2012 18.08 3.86 3.61 7.36 4.38
5 October 2012 17.58 3.87 3.60 7.24 4.34
12 October 2012 16.81 3.75 3.58 6.69 4.27
19 October 2012 15.65 3.51 3.27 6.26 3.99
26 October 2012 15.43 3.52 3.28 6.24 4.01
2 November 2012 16.41 3.63 3.51 6.75 4.18
9 November 2012 16.30 3.75 3.57 7.21 4.36
16 November 2012 16.33 3.78 3.60 7.49 4.55
23 November 2012 15.37 ND 3.41 6.65 4.32
30 November 2012 14.92 3.55 3.23 6.36 4.03
7 December 2012 13.58 3.62 3.14 6.17 4.02
14 December 2012 11.90 3.83 3.35 6.02 4.10
21 December 2012 10.81 ND 3.06 5.63 3.89
28 December 2012 ND ND ND ND ND
4 January 2013 ND ND 2.94 ND 3.71
11 January 2013 10.00 3.36 2.71 4.84 3.50
18 January 2013 9.93 3.23 2.63 4.74 3.50
25 January 2013 8.84 3.15 2.60 4.40 3.52
1 February 2013 8.72 3.03 2.58 4.45 3.52
8 February 2013 9.28 3.06 2.91 4.89 3.79
15 February 2013 9.37 2.71 2.82 4.73 3.63

Note: The data are weekly. The last observation for each series is February 15, 2013. The spreads shown are the yields on 10-year bonds less the 10-year German bond yield.

Source: For Greece, Italy, Portugal, and Spain, Bloomberg; for Ireland, staff estimates using traded bond prices from Thomson Reuters and Bloomberg.

Return to text

Figure 19. U.S. dollar exchange rate against broad index and selected major currencies, 2010-13

December 31, 2009 = 100

Date Broad Euro Japanese yen
4 January 2010 99.43 99.40 99.43
5 January 2010 99.27 99.51 98.28
6 January 2010 99.14 99.50 99.41
7 January 2010 99.40 100.13 100.25
8 January 2010 99.18 99.83 99.59
11 January 2010 98.63 98.60 98.73
12 January 2010 98.98 98.68 97.71
13 January 2010 99.04 98.90 98.17
14 January 2010 98.90 98.99 97.80
15 January 2010 99.05 99.69 97.54
18 January 2010 ND ND ND
19 January 2010 99.26 100.44 97.91
20 January 2010 99.95 101.69 98.01
21 January 2010 99.92 101.60 96.96
22 January 2010 100.21 101.26 96.77
25 January 2010 100.18 101.31 96.82
26 January 2010 100.60 101.91 96.29
27 January 2010 100.56 101.99 96.06
28 January 2010 100.54 102.42 96.78
29 January 2010 101.01 103.33 97.10
1 February 2010 100.98 103.08 97.55
2 February 2010 100.67 102.70 97.11
3 February 2010 100.86 103.06 97.88
4 February 2010 101.32 104.16 95.73
5 February 2010 101.81 105.32 95.89
8 February 2010 101.56 104.62 95.96
9 February 2010 101.24 103.89 96.10
10 February 2010 101.38 104.45 96.56
11 February 2010 101.23 105.07 96.50
12 February 2010 101.19 105.19 96.69
15 February 2010 ND ND ND
16 February 2010 100.70 104.29 97.19
17 February 2010 100.91 105.20 97.54
18 February 2010 101.06 105.67 98.23
19 February 2010 101.14 105.86 98.78
22 February 2010 100.92 105.46 97.88
23 February 2010 101.13 105.87 96.73
24 February 2010 101.12 105.57 96.76
25 February 2010 101.47 106.35 95.46
26 February 2010 100.78 104.92 95.44
1 March 2010 100.88 106.04 95.92
2 March 2010 100.58 105.66 95.56
3 March 2010 100.10 104.38 95.00
4 March 2010 100.50 105.61 95.64
5 March 2010 100.37 105.32 97.03
8 March 2010 100.34 105.28 97.01
9 March 2010 100.29 105.49 96.57
10 March 2010 100.14 104.93 97.36
11 March 2010 100.15 104.81 97.34
12 March 2010 99.78 104.21 97.19
15 March 2010 100.07 104.98 97.17
16 March 2010 99.73 104.17 97.15
17 March 2010 99.59 104.32 97.14
18 March 2010 99.87 105.36 97.19
19 March 2010 100.14 105.93 97.23
22 March 2010 100.24 105.92 96.71
23 March 2010 100.12 105.89 96.95
24 March 2010 100.73 107.38 98.72
25 March 2010 100.69 107.40 99.58
26 March 2010 100.78 106.97 99.44
29 March 2010 100.40 106.44 99.54
30 March 2010 100.37 106.88 99.80
31 March 2010 100.03 105.96 100.34
1 April 2010 99.82 105.62 100.81
2 April 2010 100.04 106.27 101.54
5 April 2010 99.81 106.27 101.29
6 April 2010 99.87 107.13 100.78
7 April 2010 99.86 107.24 100.55
8 April 2010 99.84 107.28 100.09
9 April 2010 99.60 106.42 100.21
12 April 2010 99.38 105.48 100.14
13 April 2010 99.42 105.44 99.68
14 April 2010 99.09 104.87 99.92
15 April 2010 99.33 105.85 99.96
16 April 2010 99.61 106.27 98.87
19 April 2010 99.94 106.49 99.03
20 April 2010 99.56 106.59 100.21
21 April 2010 99.57 107.09 100.17
22 April 2010 99.83 107.78 99.92
23 April 2010 99.78 107.28 101.18
26 April 2010 99.63 107.47 101.05
27 April 2010 100.16 108.33 99.92
28 April 2010 100.56 109.15 101.06
29 April 2010 99.99 108.22 101.16
30 April 2010 99.92 107.74 101.25
3 May 2010 100.31 108.72 101.72
4 May 2010 100.86 109.93 101.61
5 May 2010 101.45 111.19 101.31
6 May 2010 102.31 112.95 99.08
7 May 2010 102.30 112.66 98.49
10 May 2010 101.33 111.44 100.33
11 May 2010 101.46 112.72 99.73
12 May 2010 101.56 113.37 99.84
13 May 2010 101.48 114.04 99.59
14 May 2010 102.29 115.67 98.78
17 May 2010 102.89 116.53 98.93
18 May 2010 102.55 115.97 99.40
19 May 2010 103.40 116.36 97.94
20 May 2010 103.86 115.86 96.77
21 May 2010 103.24 113.97 96.92
24 May 2010 103.58 115.52 97.22
25 May 2010 104.49 116.72 96.57
26 May 2010 104.13 117.24 96.99
27 May 2010 103.34 115.86 97.45
28 May 2010 103.25 115.87 97.56
31 May 2010 ND ND ND
1 June 2010 103.60 116.84 97.94
2 June 2010 103.62 117.42 99.07
3 June 2010 103.43 117.54 99.19
4 June 2010 104.10 119.45 98.66
7 June 2010 104.48 119.84 98.84
8 June 2010 104.32 119.48 98.09
9 June 2010 103.91 118.99 98.35
10 June 2010 103.53 118.34 97.81
11 June 2010 103.58 118.67 98.54
14 June 2010 102.86 116.74 98.62
15 June 2010 102.76 116.27 98.03
16 June 2010 102.62 116.30 98.18
17 June 2010 102.54 115.91 97.68
18 June 2010 102.33 115.95 97.54
21 June 2010 101.82 115.72 97.96
22 June 2010 102.12 116.49 97.32
23 June 2010 102.47 116.43 96.50
24 June 2010 102.59 116.63 96.05
25 June 2010 102.45 116.22 95.99
28 June 2010 102.27 116.37 95.86
29 June 2010 103.00 117.60 94.96
30 June 2010 102.94 116.61 95.07
1 July 2010 102.78 114.99 93.92
2 July 2010 102.61 113.95 94.21
5 July 2010 ND ND ND
6 July 2010 102.11 113.33 94.06
7 July 2010 102.17 113.80 93.64
8 July 2010 101.79 113.00 95.02
9 July 2010 101.68 113.40 95.06
12 July 2010 101.94 113.99 95.11
13 July 2010 101.41 112.68 94.80
14 July 2010 101.35 112.36 95.18
15 July 2010 101.23 111.16 93.91
16 July 2010 101.48 110.94 92.82
19 July 2010 101.60 110.56 93.22
20 July 2010 101.54 111.06 93.70
21 July 2010 101.44 111.81 93.79
22 July 2010 101.13 111.07 93.47
23 July 2010 101.16 111.33 93.80
26 July 2010 100.79 110.39 93.68
27 July 2010 100.78 110.39 94.41
28 July 2010 100.79 110.26 94.13
29 July 2010 100.63 109.71 93.33
30 July 2010 100.33 109.66 92.86
2 August 2010 99.85 108.79 92.84
3 August 2010 99.68 108.26 92.26
4 August 2010 99.78 108.92 92.67
5 August 2010 99.69 108.93 92.21
6 August 2010 99.63 107.91 91.59
9 August 2010 99.70 108.24 92.26
10 August 2010 100.22 109.45 92.26
11 August 2010 100.76 111.11 91.71
12 August 2010 100.89 111.39 92.21
13 August 2010 101.05 112.26 92.61
16 August 2010 100.81 111.64 91.67
17 August 2010 100.43 111.19 91.87
18 August 2010 100.37 111.34 91.65
19 August 2010 100.69 111.65 91.61
20 August 2010 101.16 112.97 92.00
23 August 2010 101.28 113.18 91.49
24 August 2010 101.38 113.07 90.42
25 August 2010 101.68 113.28 90.85
26 August 2010 101.31 112.70 90.90
27 August 2010 101.31 112.28 91.43
30 August 2010 101.54 112.97 90.96
31 August 2010 101.66 112.81 90.35
1 September 2010 101.09 111.86 90.76
2 September 2010 101.03 111.76 90.41
3 September 2010 100.66 111.23 90.73
6 September 2010 ND ND ND
7 September 2010 100.98 112.65 89.98
8 September 2010 100.74 112.61 90.08
9 September 2010 100.64 112.78 90.06
10 September 2010 100.59 112.58 90.38
13 September 2010 99.99 111.19 89.74
14 September 2010 99.55 110.13 89.22
15 September 2010 99.88 110.18 92.00
16 September 2010 99.86 109.58 92.09
17 September 2010 99.87 109.86 92.15
20 September 2010 99.67 109.62 92.11
21 September 2010 99.58 109.10 91.71
22 September 2010 98.98 107.08 90.64
23 September 2010 98.95 107.40 90.59
24 September 2010 98.54 106.35 90.50
27 September 2010 98.40 106.36 90.43
28 September 2010 98.26 105.51 90.05
29 September 2010 98.06 105.09 89.83
30 September 2010 98.24 105.37 89.74
1 October 2010 97.75 104.20 89.49
4 October 2010 97.91 104.70 89.53
5 October 2010 97.49 103.60 89.35
6 October 2010 97.07 102.93 88.96
7 October 2010 97.19 102.95 88.47
8 October 2010 97.01 102.94 87.95
11 October 2010 ND ND ND
12 October 2010 97.12 103.51 87.82
13 October 2010 96.68 102.64 87.89
14 October 2010 96.41 101.89 87.49
15 October 2010 96.55 102.39 87.37
18 October 2010 96.72 102.53 87.19
19 October 2010 97.38 103.65 87.67
20 October 2010 97.01 102.75 87.17
21 October 2010 96.99 102.57 87.19
22 October 2010 97.24 103.08 87.54
25 October 2010 96.77 102.47 86.60
26 October 2010 97.13 103.31 87.32
27 October 2010 97.67 103.95 87.61
28 October 2010 97.15 102.89 87.01
29 October 2010 96.98 103.15 86.46
1 November 2010 96.93 103.20 86.66
2 November 2010 96.59 102.18 86.81
3 November 2010 96.62 102.27 87.46
4 November 2010 95.90 100.76 86.60
5 November 2010 96.15 102.13 87.40
8 November 2010 96.50 102.91 87.17
9 November 2010 96.43 103.37 87.18
10 November 2010 96.77 104.40 88.67
11 November 2010 ND ND ND
12 November 2010 97.05 104.61 88.57
15 November 2010 97.33 105.27 89.06
16 November 2010 97.95 106.03 89.61
17 November 2010 97.80 105.73 89.33
18 November 2010 97.50 105.24 89.86
19 November 2010 97.55 104.97 89.70
22 November 2010 97.55 105.29 89.66
23 November 2010 98.29 107.05 89.02
24 November 2010 98.09 107.36 89.58
25 November 2010 ND ND ND
26 November 2010 98.69 108.22 90.33
29 November 2010 99.05 109.47 90.61
30 November 2010 98.99 109.94 89.77
1 December 2010 98.53 109.00 90.24
2 December 2010 98.14 108.35 89.74
3 December 2010 97.76 107.22 88.88
6 December 2010 97.87 107.96 88.85
7 December 2010 97.83 107.57 89.21
8 December 2010 98.22 108.23 90.42
9 December 2010 98.25 108.53 90.08
10 December 2010 98.16 108.23 90.11
13 December 2010 97.79 107.04 89.78
14 December 2010 97.64 107.00 89.73
15 December 2010 97.97 107.71 90.29
16 December 2010 98.25 108.53 90.49
17 December 2010 98.39 108.95 90.41
20 December 2010 98.49 109.20 89.94
21 December 2010 98.35 109.15 89.99
22 December 2010 98.24 109.50 89.77
23 December 2010 98.10 109.40 89.14
24 December 2010 ND ND ND
27 December 2010 97.97 109.02 89.07
28 December 2010 97.76 109.22 88.32
29 December 2010 97.54 108.72 87.99
30 December 2010 97.26 108.01 87.74
31 December 2010 ND ND ND
3 January 2011 96.71 107.19 87.62
4 January 2011 97.10 107.71 88.05
5 January 2011 97.32 108.81 89.41
6 January 2011 97.70 110.02 89.33
7 January 2011 97.80 110.72 89.21
10 January 2011 97.85 110.71 88.93
11 January 2011 97.64 110.43 89.56
12 January 2011 97.19 109.69 89.48
13 January 2011 96.70 107.24 88.87
14 January 2011 96.83 107.53 89.16
17 January 2011 ND ND ND
18 January 2011 96.60 106.96 88.81
19 January 2011 96.47 106.20 88.13
20 January 2011 96.91 106.61 89.19
21 January 2011 96.51 105.53 88.77
24 January 2011 96.33 104.97 88.57
25 January 2011 96.50 105.04 88.47
26 January 2011 96.29 104.70 88.39
27 January 2011 96.35 104.70 89.20
28 January 2011 96.58 105.33 88.13
31 January 2011 96.50 104.50 88.06
1 February 2011 95.95 103.91 87.54
2 February 2011 95.85 104.01 87.90
3 February 2011 96.02 104.97 87.54
4 February 2011 96.14 105.51 88.09
7 February 2011 96.11 105.72 88.53
8 February 2011 95.86 104.71 88.01
9 February 2011 96.19 104.70 88.60
10 February 2011 96.41 105.10 89.29
11 February 2011 96.63 106.01 89.73
14 February 2011 96.61 106.37 89.51
15 February 2011 96.65 106.21 90.02
16 February 2011 96.46 105.79 89.95
17 February 2011 96.18 105.29 89.44
18 February 2011 95.96 104.82 89.41
21 February 2011 ND ND ND
22 February 2011 96.23 104.91 89.11
23 February 2011 96.18 104.17 88.52
24 February 2011 96.01 103.90 87.74
25 February 2011 95.93 104.18 87.84
28 February 2011 95.73 103.91 88.03
1 March 2011 95.62 103.76 87.95
2 March 2011 95.52 103.34 87.69
3 March 2011 95.41 102.76 88.54
4 March 2011 95.26 102.50 88.47
7 March 2011 95.27 102.55 88.23
8 March 2011 95.41 103.02 88.84
9 March 2011 95.29 103.06 88.93
10 March 2011 95.64 103.68 89.15
11 March 2011 95.45 103.38 87.85
14 March 2011 95.29 102.55 87.72
15 March 2011 95.55 102.61 86.83
16 March 2011 95.72 102.94 86.13
17 March 2011 95.41 102.22 84.59
18 March 2011 95.29 101.35 87.17
21 March 2011 94.97 101.04 87.14
22 March 2011 94.83 100.84 87.02
23 March 2011 95.09 101.47 86.96
24 March 2011 94.81 100.93 86.83
25 March 2011 94.90 101.33 87.15
28 March 2011 95.05 101.62 87.74
29 March 2011 95.14 101.72 88.50
30 March 2011 94.97 101.68 89.15
31 March 2011 94.76 101.05 88.91
1 April 2011 94.55 100.82 90.30
4 April 2011 94.57 100.78 90.22
5 April 2011 94.50 100.72 90.94
6 April 2011 94.27 99.99 91.60
7 April 2011 94.30 100.31 91.30
8 April 2011 93.92 99.27 91.31
11 April 2011 93.87 99.16 90.87
12 April 2011 94.06 99.15 90.02
13 April 2011 93.97 99.00 89.80
14 April 2011 93.84 99.09 89.42
15 April 2011 93.76 99.23 89.31
18 April 2011 94.23 100.85 88.56
19 April 2011 93.83 100.09 88.54
20 April 2011 93.31 98.75 88.72
21 April 2011 92.95 98.27 87.89
22 April 2011 93.11 98.54 88.01
25 April 2011 93.15 98.33 88.02
26 April 2011 93.02 98.00 88.02
27 April 2011 92.99 97.77 88.74
28 April 2011 92.58 96.94 87.63
29 April 2011 92.32 96.70 87.35
2 May 2011 92.24 96.38 87.27
3 May 2011 92.35 96.35 87.04
4 May 2011 92.60 96.45 86.69
5 May 2011 93.19 98.28 86.08
6 May 2011 93.15 98.88 86.50
9 May 2011 93.51 100.22 86.66
10 May 2011 93.33 99.82 86.75
11 May 2011 93.40 100.44 86.79
12 May 2011 93.76 100.72 86.75
13 May 2011 94.08 101.35 86.76
16 May 2011 94.03 100.79 86.83
17 May 2011 94.31 101.25 87.44
18 May 2011 93.97 100.43 87.42
19 May 2011 93.94 100.55 87.86
20 May 2011 93.96 101.13 87.71
23 May 2011 94.57 102.26 87.89
24 May 2011 94.34 101.59 88.23
25 May 2011 94.31 101.63 88.05
26 May 2011 94.24 101.73 87.49
27 May 2011 93.64 100.31 86.75
30 May 2011 ND ND ND
31 May 2011 93.34 99.69 87.33
1 June 2011 93.27 99.31 86.83
2 June 2011 93.51 99.35 87.00
3 June 2011 93.10 98.14 86.36
6 June 2011 93.13 98.03 86.15
7 June 2011 93.05 97.66 86.17
8 June 2011 93.24 98.25 85.81
9 June 2011 93.27 98.61 86.02
10 June 2011 93.71 99.77 86.23
13 June 2011 93.74 99.75 86.12
14 June 2011 93.37 99.03 86.48
15 June 2011 94.00 100.78 86.71
16 June 2011 94.35 101.25 86.70
17 June 2011 93.87 100.04 86.06
20 June 2011 93.86 100.08 86.23
21 June 2011 93.52 99.53 86.11
22 June 2011 93.45 99.51 86.01
23 June 2011 94.09 101.17 86.43
24 June 2011 94.14 101.01 86.29
27 June 2011 94.18 100.35 86.90
28 June 2011 93.88 99.75 86.86
29 June 2011 93.46 99.33 86.81
30 June 2011 93.13 98.68 86.64
1 July 2011 93.01 98.79 86.82
4 July 2011 ND ND ND
5 July 2011 93.08 99.05 87.17
6 July 2011 93.32 100.02 86.91
7 July 2011 93.12 99.88 87.30
8 July 2011 93.24 100.57 86.64
11 July 2011 93.72 102.12 86.35
12 July 2011 93.80 102.27 85.44
13 July 2011 93.21 101.16 84.86
14 July 2011 93.16 101.06 84.99
15 July 2011 93.16 101.24 84.91
18 July 2011 93.59 102.07 84.98
19 July 2011 93.09 101.24 84.78
20 July 2011 92.92 101.01 84.62
21 July 2011 92.49 99.72 84.30
22 July 2011 92.50 99.76 84.27
25 July 2011 92.45 99.83 84.13
26 July 2011 92.11 98.88 83.84
27 July 2011 92.34 99.71 83.79
28 July 2011 92.45 100.20 83.66
29 July 2011 92.36 99.61 82.92
1 August 2011 92.63 100.92 82.58
2 August 2011 92.67 100.70 82.86
3 August 2011 92.70 100.08 82.58
4 August 2011 93.56 101.23 84.88
5 August 2011 93.74 101.23 84.31
8 August 2011 93.83 100.64 83.29
9 August 2011 94.05 100.63 82.90
10 August 2011 94.00 100.98 82.09
11 August 2011 93.91 100.72 82.38
12 August 2011 93.75 100.65 82.50
15 August 2011 93.33 99.17 82.43
16 August 2011 93.28 99.38 82.47
17 August 2011 93.13 99.28 82.14
18 August 2011 93.70 100.08 82.21
19 August 2011 93.43 99.47 82.14
22 August 2011 93.66 99.64 82.48
23 August 2011 93.49 99.31 82.28
24 August 2011 93.70 99.51 82.49
25 August 2011 93.81 99.67 83.13
26 August 2011 93.64 99.09 82.32
29 August 2011 93.41 98.77 82.68
30 August 2011 93.56 99.29 82.46
31 August 2011 93.32 99.49 82.19
1 September 2011 93.40 100.34 82.52
2 September 2011 93.72 100.91 82.50
5 September 2011 ND ND ND
6 September 2011 94.67 102.38 83.24
7 September 2011 94.47 101.95 83.14
8 September 2011 94.62 102.76 83.19
9 September 2011 95.43 104.87 83.06
12 September 2011 95.71 105.11 82.89
13 September 2011 95.79 104.77 82.60
14 September 2011 95.98 104.54 82.41
15 September 2011 95.64 103.42 82.40
16 September 2011 95.69 103.98 82.61
19 September 2011 96.53 105.10 82.17
20 September 2011 96.47 104.64 82.21
21 September 2011 96.94 104.43 82.06
22 September 2011 98.64 106.59 81.98
23 September 2011 98.26 106.02 81.97
26 September 2011 98.38 106.04 82.03
27 September 2011 97.50 105.34 82.29
28 September 2011 97.63 105.17 82.20
29 September 2011 97.90 105.08 82.38
30 September 2011 98.58 106.57 82.77
3 October 2011 99.06 107.91 82.36
4 October 2011 99.49 107.81 82.57
5 October 2011 98.85 107.53 82.57
6 October 2011 98.51 106.89 82.34
7 October 2011 97.81 106.07 82.48
10 October 2011 ND ND ND
11 October 2011 97.47 104.94 82.36
12 October 2011 96.91 103.82 83.05
13 October 2011 97.23 104.38 82.60
14 October 2011 96.80 103.40 83.11
17 October 2011 96.82 104.08 82.51
18 October 2011 97.16 104.47 82.46
19 October 2011 96.89 104.04 82.50
20 October 2011 97.68 104.83 82.63
21 October 2011 96.90 103.31 81.76
24 October 2011 96.46 102.87 81.76
25 October 2011 96.51 103.03 81.52
26 October 2011 96.64 103.57 81.70
27 October 2011 95.36 101.13 81.44
28 October 2011 95.19 101.19 81.35
31 October 2011 95.79 102.76 83.77
1 November 2011 97.28 104.80 84.10
2 November 2011 96.82 103.83 83.84
3 November 2011 96.86 104.28 83.76
4 November 2011 96.85 104.15 83.98
7 November 2011 96.92 104.28 83.86
8 November 2011 96.71 103.97 83.57
9 November 2011 97.21 105.41 83.55
10 November 2011 97.40 105.38 83.35
11 November 2011 ND ND ND
14 November 2011 97.25 105.19 82.75
15 November 2011 97.62 105.97 82.71
16 November 2011 97.64 106.12 82.75
17 November 2011 97.70 105.99 82.70
18 November 2011 97.90 106.00 82.65
21 November 2011 98.52 105.97 82.69
22 November 2011 98.54 106.16 82.80
23 November 2011 99.25 107.38 83.17
24 November 2011 ND ND ND
25 November 2011 99.67 108.22 83.43
28 November 2011 99.06 107.48 83.85
29 November 2011 98.77 107.41 83.65
30 November 2011 98.03 106.53 83.35
1 December 2011 97.76 106.27 83.37
2 December 2011 97.87 107.07 83.67
5 December 2011 97.64 106.45 83.55
6 December 2011 97.81 106.98 83.51
7 December 2011 97.77 107.07 83.47
8 December 2011 98.19 107.57 83.44
9 December 2011 98.15 107.21 83.35
12 December 2011 98.86 108.67 83.66
13 December 2011 99.07 109.45 83.65
14 December 2011 99.71 110.48 83.88
15 December 2011 99.40 110.14 83.66
16 December 2011 99.31 110.03 83.42
19 December 2011 99.37 110.10 83.76
20 December 2011 98.95 109.61 83.54
21 December 2011 99.03 109.91 83.80
22 December 2011 98.90 109.87 83.94
23 December 2011 98.89 109.91 83.94
26 December 2011 ND ND ND
27 December 2011 98.92 109.62 83.62
28 December 2011 99.32 110.88 83.78
29 December 2011 99.22 110.65 83.49
30 December 2011 98.90 110.48 82.70
2 January 2012 ND ND ND
3 January 2012 98.23 109.73 82.37
4 January 2012 98.50 110.84 82.38
5 January 2012 99.04 112.12 82.92
6 January 2012 99.17 112.65 82.79
9 January 2012 99.20 112.45 82.60
10 January 2012 98.72 112.13 82.55
11 January 2012 99.01 112.97 82.62
12 January 2012 98.68 111.81 82.47
13 January 2012 98.97 113.01 82.62
16 January 2012 ND ND ND
17 January 2012 98.47 112.50 82.51
18 January 2012 98.14 111.75 82.52
19 January 2012 97.79 110.78 82.97
20 January 2012 97.84 110.69 82.69
23 January 2012 97.46 109.95 82.64
24 January 2012 97.66 110.21 83.56
25 January 2012 97.74 110.43 83.94
26 January 2012 96.88 108.97 83.23
27 January 2012 96.73 108.64 82.38
30 January 2012 96.95 109.21 81.95
31 January 2012 97.00 109.80 82.02
1 February 2012 96.56 108.75 81.77
2 February 2012 96.31 108.85 81.79
3 February 2012 96.29 109.35 82.23
6 February 2012 96.25 109.15 82.23
7 February 2012 96.05 108.22 82.60
8 February 2012 96.08 108.14 82.62
9 February 2012 96.06 107.78 83.18
10 February 2012 96.54 108.68 83.34
13 February 2012 96.32 108.49 83.28
14 February 2012 96.64 109.00 84.22
15 February 2012 96.64 109.51 84.04
16 February 2012 96.79 109.32 84.63
17 February 2012 96.69 109.00 85.23
20 February 2012 ND ND ND
21 February 2012 96.47 108.13 85.66
22 February 2012 96.68 108.16 86.27
23 February 2012 96.55 107.69 86.17
24 February 2012 96.36 106.45 86.89
27 February 2012 96.42 106.88 86.40
28 February 2012 96.26 106.54 86.42
29 February 2012 96.21 107.28 87.13
1 March 2012 96.25 107.60 87.19
2 March 2012 96.59 108.56 87.62
5 March 2012 96.74 108.36 87.48
6 March 2012 97.28 109.29 86.87
7 March 2012 97.14 109.00 87.09
8 March 2012 96.73 108.12 87.56
9 March 2012 96.89 109.34 88.73
12 March 2012 97.14 109.06 88.32
13 March 2012 97.02 109.33 88.81
14 March 2012 97.43 110.03 90.01
15 March 2012 97.27 109.66 89.47
16 March 2012 97.02 108.81 89.54
19 March 2012 96.79 108.23 89.50
20 March 2012 97.11 108.40 89.84
21 March 2012 97.18 108.66 89.84
22 March 2012 97.29 108.63 88.63
23 March 2012 97.10 108.06 88.47
26 March 2012 96.83 107.53 89.00
27 March 2012 96.78 107.47 89.33
28 March 2012 97.08 107.76 88.89
29 March 2012 97.22 108.04 88.40
30 March 2012 96.94 107.48 88.54
2 April 2012 96.73 107.56 88.27
3 April 2012 96.66 107.46 88.29
4 April 2012 97.30 109.19 88.76
5 April 2012 97.36 109.71 88.45
6 April 2012 97.41 109.50 87.62
9 April 2012 97.45 109.51 87.41
10 April 2012 97.75 109.67 86.96
11 April 2012 97.65 109.37 86.89
12 April 2012 97.25 108.81 86.88
13 April 2012 97.51 109.56 87.01
16 April 2012 97.71 109.68 86.44
17 April 2012 97.25 109.21 86.72
18 April 2012 97.43 109.22 87.33
19 April 2012 97.58 109.14 87.63
20 April 2012 97.31 108.48 87.67
23 April 2012 97.58 109.16 87.19
24 April 2012 97.32 108.52 87.25
25 April 2012 97.27 108.49 87.38
26 April 2012 97.14 108.31 86.79
27 April 2012 96.84 108.18 86.46
30 April 2012 96.83 108.34 85.74
1 May 2012 96.82 108.36 86.13
2 May 2012 97.10 108.96 86.15
3 May 2012 97.18 109.01 86.33
4 May 2012 97.53 109.48 85.78
7 May 2012 97.58 109.81 85.82
8 May 2012 97.90 110.12 85.72
9 May 2012 98.26 110.64 85.56
10 May 2012 98.20 110.59 85.85
11 May 2012 98.23 110.78 85.80
14 May 2012 98.77 111.56 85.76
15 May 2012 99.04 112.24 86.04
16 May 2012 99.42 112.58 86.29
17 May 2012 99.46 112.77 85.15
18 May 2012 99.64 112.66 85.02
21 May 2012 99.59 112.24 85.21
22 May 2012 99.60 112.54 85.93
23 May 2012 100.38 114.03 85.23
24 May 2012 100.30 113.90 85.38
25 May 2012 100.47 114.49 85.56
28 May 2012 ND ND ND
29 May 2012 100.40 114.77 85.35
30 May 2012 100.83 115.53 84.80
31 May 2012 101.21 115.92 84.11
1 June 2012 101.23 115.39 84.02
4 June 2012 101.03 114.70 84.12
5 June 2012 101.12 115.24 84.41
6 June 2012 100.55 114.34 84.99
7 June 2012 100.30 114.04 85.59
8 June 2012 100.72 114.82 85.38
11 June 2012 100.56 114.62 85.41
12 June 2012 100.59 114.87 85.35
13 June 2012 100.36 113.78 85.25
14 June 2012 100.35 113.67 85.18
15 June 2012 100.06 113.45 84.50
18 June 2012 100.16 113.94 84.82
19 June 2012 99.60 112.92 84.79
20 June 2012 99.71 112.82 85.45
21 June 2012 100.18 113.87 86.14
22 June 2012 100.47 114.24 86.51
25 June 2012 100.72 114.84 85.41
26 June 2012 100.54 114.92 85.37
27 June 2012 100.41 115.05 85.76
28 June 2012 100.54 115.27 85.25
29 June 2012 99.45 113.14 85.74
2 July 2012 99.48 113.89 85.32
3 July 2012 99.20 113.57 85.70
4 July 2012 ND ND ND
5 July 2012 99.74 115.73 85.89
6 July 2012 100.23 116.68 85.53
9 July 2012 100.23 116.53 85.58
10 July 2012 100.08 116.95 85.35
11 July 2012 100.13 117.05 85.63
12 July 2012 100.46 117.49 85.18
13 July 2012 100.10 117.17 85.09
16 July 2012 99.93 116.83 84.66
17 July 2012 99.89 117.15 84.92
18 July 2012 99.64 116.89 84.65
19 July 2012 99.59 116.93 84.44
20 July 2012 99.90 117.71 84.33
23 July 2012 100.48 118.19 84.21
24 July 2012 100.80 118.82 84.00
25 July 2012 100.60 118.13 84.02
26 July 2012 99.92 116.71 84.06
27 July 2012 99.50 115.86 84.39
30 July 2012 99.61 117.00 84.01
31 July 2012 99.37 116.38 83.91
1 August 2012 99.41 116.53 84.00
2 August 2012 99.94 117.97 84.04
3 August 2012 99.15 115.67 84.44
6 August 2012 98.96 115.38 83.98
7 August 2012 99.04 115.38 84.56
8 August 2012 99.07 115.92 84.27
9 August 2012 99.13 116.73 84.49
10 August 2012 99.05 116.54 84.06
13 August 2012 99.13 116.15 84.16
14 August 2012 99.16 116.25 84.68
15 August 2012 99.23 116.63 84.76
16 August 2012 99.14 115.99 85.14
17 August 2012 99.27 116.38 85.41
20 August 2012 99.19 116.11 85.31
21 August 2012 98.87 114.91 85.34
22 August 2012 98.99 114.91 85.08
23 August 2012 98.65 113.90 84.29
24 August 2012 98.83 114.35 84.50
27 August 2012 98.87 114.53 84.52
28 August 2012 98.77 114.07 84.34
29 August 2012 98.95 114.31 84.57
30 August 2012 99.18 114.68 84.39
31 August 2012 98.74 113.94 84.12
3 September 2012 ND ND ND
4 September 2012 98.73 114.05 84.17
5 September 2012 98.70 113.72 84.16
6 September 2012 98.47 113.51 84.83
7 September 2012 97.93 112.00 83.95
10 September 2012 97.88 112.01 84.06
11 September 2012 97.63 111.46 83.56
12 September 2012 97.61 111.15 83.65
13 September 2012 97.53 111.00 83.17
14 September 2012 96.68 109.05 84.04
17 September 2012 96.83 109.20 84.53
18 September 2012 97.05 109.82 84.43
19 September 2012 97.00 109.70 84.23
20 September 2012 97.29 110.69 84.12
21 September 2012 97.07 110.33 83.98
24 September 2012 97.36 111.02 83.69
25 September 2012 97.14 110.71 83.70
26 September 2012 97.52 111.52 83.56
27 September 2012 97.27 111.33 83.39
28 September 2012 97.32 111.48 83.71
1 October 2012 97.19 111.10 83.80
2 October 2012 97.14 110.66 83.81
3 October 2012 97.35 111.02 84.41
4 October 2012 96.99 110.24 84.27
5 October 2012 96.79 109.75 84.51
8 October 2012 ND ND ND
9 October 2012 97.36 111.31 84.05
10 October 2012 97.37 111.20 84.08
11 October 2012 97.23 110.86 84.27
12 October 2012 97.15 110.71 84.13
15 October 2012 97.12 110.67 84.62
16 October 2012 97.01 109.94 84.79
17 October 2012 96.69 109.13 84.59
18 October 2012 96.83 109.35 85.13
19 October 2012 97.24 110.06 85.15
22 October 2012 97.22 109.71 85.78
23 October 2012 97.52 110.49 85.72
24 October 2012 97.56 110.71 85.75
25 October 2012 97.45 110.60 85.99
26 October 2012 97.56 110.77 85.55
29 October 2012 97.73 111.05 85.74
30 October 2012 97.49 110.42 85.50
31 October 2012 97.57 110.60 85.88
1 November 2012 97.54 110.78 86.10
2 November 2012 97.69 111.55 86.52
5 November 2012 97.89 112.06 86.13
6 November 2012 97.71 111.81 86.25
7 November 2012 97.85 112.33 85.79
8 November 2012 97.93 112.50 85.67
9 November 2012 98.07 112.72 85.37
12 November 2012 ND ND ND
13 November 2012 98.10 112.71 85.32
14 November 2012 98.15 112.50 86.16
15 November 2012 98.26 112.12 87.19
16 November 2012 98.39 112.72 87.32
19 November 2012 97.95 111.92 87.22
20 November 2012 97.94 111.85 87.80
21 November 2012 98.04 111.83 88.48
22 November 2012 ND ND ND
23 November 2012 97.66 110.59 88.46
26 November 2012 97.66 110.54 88.21
27 November 2012 97.65 110.76 88.34
28 November 2012 97.72 110.90 87.92
29 November 2012 97.60 110.65 88.16
30 November 2012 97.50 110.16 88.68
3 December 2012 97.41 109.69 88.35
4 December 2012 97.37 109.56 87.95
5 December 2012 97.34 109.60 88.53
6 December 2012 97.46 110.52 88.41
7 December 2012 97.45 110.74 88.49
10 December 2012 97.37 110.84 88.49
11 December 2012 97.26 110.31 88.55
12 December 2012 97.20 109.92 89.28
13 December 2012 97.20 109.60 89.75
14 December 2012 97.15 109.12 89.73
17 December 2012 97.06 108.83 89.92
18 December 2012 96.95 108.38 90.24
19 December 2012 96.92 108.08 90.59
20 December 2012 97.03 108.38 90.60
21 December 2012 97.37 108.86 90.35
24 December 2012 97.45 108.75 91.12
25 December 2012 ND ND ND
26 December 2012 97.48 108.35 91.99
27 December 2012 97.51 108.35 92.46
28 December 2012 97.45 108.41 92.52
31 December 2012 97.50 108.69 93.08
1 January 2013 ND ND ND
2 January 2013 97.11 108.62 93.58
3 January 2013 97.22 109.32 93.38
4 January 2013 97.52 109.85 94.69
7 January 2013 97.40 109.41 94.20
8 January 2013 97.46 109.67 93.80
9 January 2013 97.41 109.59 94.43
10 January 2013 97.06 108.41 94.71
11 January 2013 96.96 107.33 95.85
14 January 2013 96.90 107.20 95.98
15 January 2013 96.92 107.42 95.24
16 January 2013 96.98 107.72 95.23
17 January 2013 96.93 107.31 96.06
18 January 2013 97.25 107.74 96.58
21 January 2013 ND ND ND
22 January 2013 97.16 107.73 95.21
23 January 2013 97.20 107.69 95.02
24 January 2013 97.28 107.13 96.73
25 January 2013 97.47 106.51 97.81
28 January 2013 97.64 106.49 97.48
29 January 2013 97.34 106.29 97.39
30 January 2013 97.30 105.66 97.82
31 January 2013 97.23 105.51 98.07
1 February 2013 97.15 104.67 99.42
4 February 2013 97.43 105.95 99.45
5 February 2013 97.32 105.62 100.28
6 February 2013 97.47 105.94 100.52
7 February 2013 97.74 107.10 100.17
8 February 2013 97.76 107.23 99.61
11 February 2013 98.04 106.84 100.39
12 February 2013 97.87 106.56 100.06
13 February 2013 97.84 106.57 100.33
14 February 2013 97.93 107.48 100.02
15 February 2013 98.01 107.26 100.60
18 February 2013 ND ND ND
19 February 2013 98.06 107.06 100.49
20 February 2013 98.20 107.36 100.48
21 February 2013 98.57 108.54 99.87

Note: The data, which are in foreign currency units per dollar, are daily. The last observation for each series is February 21, 2013.

Source: Federal Reserve Board, Statistical Release H.10, "Foreign Exchange Rates."

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Figure 1. Aggregate Daylight Overdrafts, 2007-2011

Billions of dollars

Date Average daylight overdrafts Peak daylight overdrafts
2007:Q1 57 153
2007:Q2 57 149
2007:Q3 62 161
2007:Q4 66 170
2008:Q1 69 180
2008:Q2 71 187
2008:Q3 65 175
2008:Q4 40 131
2009:Q1 13 65
2009:Q2 10 52
2009:Q3 11 59
2009:Q4 6 46
2010:Q1 5 46
2010:Q2 6 58
2010:Q3 7 69
2010:Q4 7 64
2011:Q1 4 56
2011:Q2 1 35
2011:Q3 1 11
2011:Q4 1 15

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Last update: June 25, 2013