H. 13 No, 178 January 13, 1965 CAPITAL MARKET DEVELOPMENTS ABROAD

Transcription

1 DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNOR# H. 13 No, 178 January 13, 1965 CAPITAL MARKET DEVELOPMENTS ABROAD \, < I, Nine Charts on Financial Markets Abroad II, Latest Figures Plotted in H,13 Chart Series, 1965 I, Nine Charts on Financial Markets Abroad Chart 1 International Money Market Yields for U.S. Dollar Investors Chart 2 Interest Arbitrage, United States/Canada Chart 3 Interest Arbitrage, New York/London Chart U Interest Arbitrage for German Commercial Banks Chart 5 Shortterm Interest Rates Chart 6 Longterm Bond Yields Chart 7 Industrial Stock Indices Chart8 Spot Exchange Rates Major Currencies Against U,S. Dollar Chart 9 3month Forward Exchange Rates OFFICIAL USE ONLY (Decontrolled after six months)

2 INTERNATIONAL MONEY MARKET YIELDS FOR U.S. DOLLAR INVESTORS 3MONTH EURO DOLLAR DEPOSIT VS. CERTIFICATE OF DEPOSIT _L. NEW YORK OFFER RATES ON SELECTED 3MONTH INVESTMENTS Friday figures CANADIAN FINAHC COMPANY dt 1964

3 INTEREST ARBITRAGE, UNITED STATES / CANADA Friday figures* P e r c e n l p e r a n ntf m 3 MONTH TREASURY BILL RATES RATE.DIFFERENTIAL AND FORWARD CANADIAN DOLLAR RATE DIFFERENTIAL WITH FORWARD EXCHANGE COVER (NET INCENTIVE) ' i 1! I I IN FAVOR Of CANADA IN FAV01 OF UNITED STATES I I II II 11 I I i I II IIJ I M i IJ II I I i IJ I 1J I l M 7 S D M 7 S D M J _ S D M i S D '965 Thuriday,figure* 1962, Friday thereafter.

4 INTEREST ARBITRAGE, NEW YORK/LONDON /, J M ONTH TREASURY BILL RATES 1 RATE DIFFERENTIAL AND FORWARD STERLING' 3MONTH A R ATE DIFFERENTIAL WITH FORWARD EXCHANGE COVER (NET INCENTIVE) x

5 INTEREST ARBITRAGE FOR GERMAN COMMERCIAL BANKS 3 MONTH TREASURY BILLS, INTERBANK LENDING RATE AND : EURO DOLLAR DEPOSIT RATES ] RATE DIFFERENTIAL AND FORWARD DEUTSCHE MARK SPREAD IN FAVOR OF FRANKFURT I r T. T T T T T. T T RATE DIFFERENTIAL WITH FORWARD EXCHANGE COVER (NET INCENTIVE) A INTERBANK LOAN RATE <1

6 SHORTTERM INTEREST RATES* I VI 4 \ J CANADA 3monlh treotury bill rotes for oil countries e*cept Jopon and Switzerland (3 month deposit rote) ~f" 3 month role for U S dollar deponh in London (Average rate on bonk loom ond ducoynu)

7 LONGTERM BOND YIELDS Per cent per an n J * / / X\ ' GERMANY O A, j y / II I! I! II 1! II II! 1 II i II i i ii ii ii i II i 11 II IIW^L_ J 1961 JUJ

8 INDUSTRIAL STOCK INDICES, Rati* s<ile 1962 New series Swiss Bonk C o<t>«r ot i o n indusiriol slock Japan. inde* of 225 indot*vi<a( ond other slocks wudbd on ihe Tokyo exchonge

9 SPOT EXCHANGE RATES MAJOR CURRENCIES AGAINST U.S. DOLLAR»«' Abo v«por Above par {dollar 1 T f\ ITALIA NLIRA i 1 i Ul /!_( r (\a J i/vx/j V JAPANE St YEN 1 1,, i i i i i i i i i i i i 1 H i i 1 1 M Tii IT IV Car^ Below

10 \0 3MONTH FORWARD EXCHANGE RATES Friday figures AGAINST U.S. DOLLARS Per cent per annum I SWISS FRANC AGAINST POUND STERLING tondo.n PREMIUM + SWISS FRANC AGAINST POUND STERLING LONDON I DUTCH GUILDER Digitized for FRASER I

11 H.13 No, 178 II, Latest Figures Plotted In H.13 Chart Series, 1965 January 13, 1965 \\ Chart 1 Per cent per annum Chart 5 Per cent per annum Upper panel (Wednesday Jan, 6 ) Euro$ deposit U.S. certif. of deposit Lover panels (Friday, Jan. 8 ) Treasury bills: U.S. U.K. W 6 L.15 _Mo (Friday, Jan, 8 except as noted) Treasury bills: U.S. U.K. Germany Canada Swiss 3month deposits * (Date: Dec, 15 ) ,Wi Canada am. Euro$ deposit (London) L,5o Finance Co. paper: U.S. Canada kx12 Japan: composite rate (Date: Sept, 25 ) Hirepurchase paper, U.K. Chart 2 (Friday, Jan, 8 ).<.00 Bonds: Chart 6 U.S. govt (Wed., Jan, 6 ht20 Treasury bills: Canada U.S. Spread favor Canada JlJJ 0,06 U.K. war loan (Thurs., Jan, 7 German Fed. Railway (Fri., Jan, 8 6.L2 6,36 Forward Canadian dollar Net incentive (Canada +) Chart 3 ro 0.20 Swiss Confederation (Fri., Dec, 11 Canadian govt. (Wed., Jan * 6 juou k,97 (Friday, Jan, 8 ) Treasury bill's: U.K. Spread favor U. K. Forward pound U.S. Net incentive (U.K. +) Digitized for FRASER Srhh 3J7 +2, ,06 Netherlands Government Perpetual (Thurses Dec,. 2h * Additional rates: (Mon,, Nov. 23 (MonOJU (Honcs Nov* 30 Dec, 7 ) For description and sources of data set special annex to H. 13 Number 164, September 53, ) 5,00 3,75 33B 3775