Accessible Version

Summary Part 1: Recent Economic and Financial Developments Part 2: Monetary Policy Part 3: Summary of Economic Projections Abbreviations

Accessible Version

Part 1: Recent Economic and Financial Developments

Figure 1. Net change in payroll employment

Monthly
Thousands of jobs

Period	Total nonfarm (3-month)	Total nonfarm (12-month)
January 2012	230.3	200.8
February 2012	273.7	204.9
March 2012	285.0	205.4
April 2012	194.3	185.6
May 2012	140.0	185.9
June 2012	84.7	172.3
July 2012	108.0	180.0
August 2012	131.7	184.0
September 2012	170.7	180.1
October 2012	172.3	176.3
November 2012	168.3	178.4
December 2012	184.3	181.2
January 2013	196.7	167.8
February 2013	237.0	169.3
March 2013	203.3	160.8
April 2013	202.3	169.8
May 2013	184.0	180.3
June 2013	199.0	189.3
July 2013	170.0	185.3
August 2013	176.0	191.3
September 2013	178.7	191.3
October 2013	218.7	196.9
November 2013	227.0	206.0
December 2013	186.3	191.8
January 2014	170.3	190.3
February 2014	137.3	181.1
March 2014	198.3	190.6
April 2014	248.3	201.8
May 2014	266.0	201.6
June 2014	290.7	213.5
July 2014	257.3	223.7
August 2014	246.3	219.2
September 2014	242.0	229.3
October 2014	252.3	232.1
November 2014	285.0	233.7
December 2014	271.0	250.5
January 2015	256.0	253.5
February 2015	243.3	260.2
March 2015	179.3	245.8
April 2015	208.3	243.5
May 2015	232.0	251.7
June 2015	263.0	238.8
July 2015	260.7	244.3
August 2015	195.0	238.8
September 2015	182.7	224.0
October 2015	198.0	230.8
November 2015	235.7	226.5
December 2015	284.7	227.4
January 2016	201.7	217.2
February 2016	200.7	215.8
March 2016	185.3	228.9
April 2016	225.7	221.5
May 2016	153.3	196.2
June 2016	169.3	205.5
July 2016	211.0	209.1
August 2016	251.0	210.2
September 2016	247.0	221.6
October 2016	177.7	204.0
November 2016	189.3	198.6
December 2016	171.0	193.2
January 2017	212.3	206.7
February 2017	202.7	199.1
March 2017	173.3	190.2
April 2017	160.3	190.3
May 2017	156.0	199.8
June 2017	190.0	195.3
July 2017	187.0	184.3
August 2017	206.7	188.7
September 2017	136.3	167.7
October 2017	155.0	178.7
November 2017	166.0	182.8
December 2017	218.0	179.4
January 2018	188.3	172.7
February 2018	225.0	188.4
March 2018	227.7	193.0
April 2018	236.0	191.6
May 2018	216.0	203.4
June 2018	242.7	206.2
July 2018	236.7	204.0
August 2018	240.7	211.9
September 2018	189.3	219.4
October 2018	222.3	220.8
November 2018	193.7	218.8
December 2018	233.3	223.3
January 2019	245.0	235.0
February 2019	198.3	212.2
March 2019	173.7	209.8
April 2019	144.3	212.1
May 2019	150.7	195.8

Note: The data are 3-month and 12-month moving averages.

Source: Bureau of Labor Statistics via Haver Analytics.

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Figure 2. Measures of labor underutilization

Monthly
Percent

Period	Unemployment rate	U-4	U-5	U-6
January 2007	4.6	4.9	5.6	8.4
February 2007	4.5	4.8	5.4	8.2
March 2007	4.4	4.6	5.3	8.0
April 2007	4.5	4.7	5.4	8.2
May 2007	4.4	4.7	5.3	8.2
June 2007	4.6	4.8	5.5	8.3
July 2007	4.7	4.9	5.5	8.4
August 2007	4.6	4.9	5.5	8.4
September 2007	4.7	4.8	5.5	8.4
October 2007	4.7	4.9	5.6	8.4
November 2007	4.7	4.9	5.5	8.4
December 2007	5.0	5.2	5.8	8.8
January 2008	5.0	5.3	6.0	9.2
February 2008	4.9	5.1	5.9	9.0
March 2008	5.1	5.3	5.9	9.1
April 2008	5.0	5.2	5.8	9.2
May 2008	5.4	5.7	6.3	9.7
June 2008	5.6	5.8	6.5	10.1
July 2008	5.8	6.1	6.7	10.5
August 2008	6.1	6.3	7.1	10.8
September 2008	6.1	6.4	7.1	11.0
October 2008	6.5	6.8	7.5	11.8
November 2008	6.8	7.2	8.0	12.6
December 2008	7.3	7.7	8.4	13.6
January 2009	7.8	8.3	9.1	14.2
February 2009	8.3	8.8	9.5	15.2
March 2009	8.7	9.1	9.9	15.8
April 2009	9.0	9.4	10.2	15.9
May 2009	9.4	9.8	10.6	16.5
June 2009	9.5	10.0	10.8	16.5
July 2009	9.5	9.9	10.8	16.4
August 2009	9.6	10.0	10.9	16.7
September 2009	9.8	10.2	11.0	16.7
October 2009	10.0	10.5	11.4	17.1
November 2009	9.9	10.4	11.2	17.1
December 2009	9.9	10.4	11.3	17.1
January 2010	9.8	10.4	11.3	16.7
February 2010	9.8	10.5	11.3	17.0
March 2010	9.9	10.5	11.2	17.1
April 2010	9.9	10.6	11.3	17.1
May 2010	9.6	10.3	10.9	16.6
June 2010	9.4	10.1	10.9	16.4
July 2010	9.4	10.1	11.0	16.4
August 2010	9.5	10.2	10.9	16.5
September 2010	9.5	10.2	10.9	16.8
October 2010	9.4	10.2	11.0	16.6
November 2010	9.8	10.5	11.2	16.9
December 2010	9.3	10.1	10.9	16.6
January 2011	9.1	9.7	10.8	16.2
February 2011	9.0	9.6	10.6	16.0
March 2011	9.0	9.5	10.4	15.9
April 2011	9.1	9.7	10.5	16.1
May 2011	9.0	9.5	10.3	15.8
June 2011	9.1	9.7	10.7	16.1
July 2011	9.0	9.6	10.6	15.9
August 2011	9.0	9.6	10.5	16.1
September 2011	9.0	9.7	10.5	16.4
October 2011	8.8	9.4	10.3	15.8
November 2011	8.6	9.3	10.1	15.5
December 2011	8.5	9.1	10.0	15.2
January 2012	8.3	8.9	9.9	15.2
February 2012	8.3	8.9	9.8	15.0
March 2012	8.2	8.7	9.6	14.5
April 2012	8.2	8.8	9.6	14.6
May 2012	8.2	8.7	9.6	14.7
June 2012	8.2	8.7	9.6	14.8
July 2012	8.2	8.7	9.6	14.8
August 2012	8.1	8.6	9.6	14.6
September 2012	7.8	8.3	9.3	14.8
October 2012	7.8	8.3	9.2	14.4
November 2012	7.7	8.3	9.2	14.4
December 2012	7.9	8.5	9.4	14.4
January 2013	8.0	8.5	9.4	14.6
February 2013	7.7	8.2	9.2	14.4
March 2013	7.5	8.0	8.9	13.8
April 2013	7.6	8.1	8.9	14.0
May 2013	7.5	8.0	8.8	13.8
June 2013	7.5	8.2	9.1	14.2
July 2013	7.3	7.9	8.7	13.8
August 2013	7.2	7.8	8.6	13.6
September 2013	7.2	7.7	8.6	13.5
October 2013	7.2	7.7	8.5	13.6
November 2013	6.9	7.4	8.2	13.1
December 2013	6.7	7.3	8.1	13.1
January 2014	6.6	7.1	8.1	12.7
February 2014	6.7	7.1	8.0	12.6
March 2014	6.7	7.1	7.9	12.6
April 2014	6.2	6.7	7.5	12.3
May 2014	6.3	6.7	7.6	12.2
June 2014	6.1	6.5	7.3	12.0
July 2014	6.2	6.6	7.5	12.1
August 2014	6.1	6.6	7.4	12.0
September 2014	5.9	6.4	7.3	11.7
October 2014	5.7	6.2	7.1	11.5
November 2014	5.8	6.2	7.1	11.4
December 2014	5.6	6.0	6.9	11.2
January 2015	5.7	6.1	7.0	11.3
February 2015	5.5	5.9	6.8	11.0
March 2015	5.4	5.9	6.7	10.8
April 2015	5.4	5.9	6.7	10.8
May 2015	5.6	5.9	6.7	10.9
June 2015	5.3	5.6	6.4	10.4
July 2015	5.2	5.6	6.4	10.3
August 2015	5.1	5.5	6.2	10.2
September 2015	5.0	5.4	6.2	10.0
October 2015	5.0	5.4	6.2	9.8
November 2015	5.1	5.4	6.1	10.0
December 2015	5.0	5.4	6.1	9.9
January 2016	4.9	5.3	6.1	9.8
February 2016	4.9	5.3	6.0	9.7
March 2016	5.0	5.3	6.0	9.8
April 2016	5.0	5.3	6.0	9.7
May 2016	4.8	5.1	5.8	9.9
June 2016	4.9	5.2	6.0	9.5
July 2016	4.8	5.2	6.0	9.7
August 2016	4.9	5.2	5.9	9.6
September 2016	5.0	5.3	6.0	9.7
October 2016	4.9	5.2	5.9	9.6
November 2016	4.7	5.0	5.8	9.4
December 2016	4.7	4.9	5.7	9.2
January 2017	4.7	5.1	5.8	9.3
February 2017	4.7	5.0	5.7	9.1
March 2017	4.4	4.7	5.4	8.7
April 2017	4.4	4.7	5.3	8.6
May 2017	4.4	4.6	5.2	8.5
June 2017	4.3	4.6	5.3	8.5
July 2017	4.3	4.6	5.3	8.5
August 2017	4.4	4.7	5.3	8.6
September 2017	4.2	4.5	5.1	8.3
October 2017	4.1	4.4	5.0	8.0
November 2017	4.2	4.4	5.0	8.0
December 2017	4.1	4.4	5.1	8.1
January 2018	4.1	4.4	5.1	8.2
February 2018	4.1	4.4	5.1	8.2
March 2018	4.0	4.3	4.9	7.9
April 2018	3.9	4.2	4.7	7.8
May 2018	3.8	4.0	4.6	7.7
June 2018	4.0	4.2	4.9	7.8
July 2018	3.9	4.2	4.7	7.5
August 2018	3.8	4.1	4.7	7.4
September 2018	3.7	3.9	4.6	7.5
October 2018	3.8	4.1	4.6	7.5
November 2018	3.7	4.0	4.7	7.6
December 2018	3.9	4.1	4.8	7.6
January 2019	4.0	4.3	4.9	8.1
February 2019	3.8	4.1	4.7	7.3
March 2019	3.8	4.1	4.6	7.3
April 2019	3.6	3.9	4.4	7.3
May 2019	3.6	3.8	4.4	7.1

Note: Unemployment rate measures total unemployed as a percentage of the labor force. U-4 measures total unemployed plus discouraged workers, as a percentage of the labor force plus discouraged workers. Discouraged workers are a subset of marginally attached workers who are not currently looking for work because they believe no jobs are available for them. U-5 measures total unemployed plus all marginally attached to the labor force, as a percentage of the labor force plus persons marginally attached to the labor force. Marginally attached workers are not in the labor force, want and are available for work, and have looked for a job in the past 12 months. U-6 measures total unemployed plus all marginally attached workers plus total employed part time for economic reasons, as a percentage of the labor force plus all marginally attached workers. The shaded bar indicates a period of business recession as defined by the National Bureau of Economic Research: December 2007-June 2009.

Source: Bureau of Labor Statistics via Haver Analytics.

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Figure 3. Labor force participation rates and employment-to-population ratio

Monthly
Percent

Period	Labor force participation rate	Employment-to-population ratio	Prime-age labor force participation rate
January 2005	65.84	62.38	82.70
February 2005	65.93	62.38	82.80
March 2005	65.88	62.45	82.60
April 2005	66.06	62.66	82.70
May 2005	66.14	62.75	82.90
June 2005	66.06	62.73	82.60
July 2005	66.08	62.80	82.80
August 2005	66.15	62.91	82.90
September 2005	66.15	62.82	82.90
October 2005	66.09	62.81	82.70
November 2005	66.05	62.72	82.70
December 2005	65.97	62.77	82.70
January 2006	66.01	62.91	82.80
February 2006	66.14	62.99	82.90
March 2006	66.15	63.05	83.00
April 2006	66.12	63.00	82.80
May 2006	66.13	63.08	82.80
June 2006	66.19	63.13	82.80
July 2006	66.13	62.99	83.00
August 2006	66.20	63.11	82.90
September 2006	66.11	63.12	82.90
October 2006	66.20	63.27	82.90
November 2006	66.29	63.30	83.00
December 2006	66.37	63.44	83.10
January 2007	66.40	63.31	83.40
February 2007	66.27	63.27	83.20
March 2007	66.25	63.33	83.20
April 2007	65.92	62.96	83.00
May 2007	65.95	63.03	83.00
June 2007	66.05	63.04	82.90
July 2007	65.98	62.90	82.90
August 2007	65.78	62.74	82.90
September 2007	66.00	62.91	82.80
October 2007	65.82	62.71	82.70
November 2007	66.04	62.93	82.90
December 2007	66.02	62.74	83.10
January 2008	66.23	62.93	83.30
February 2008	66.00	62.78	83.20
March 2008	66.06	62.70	83.30
April 2008	65.94	62.66	83.10
May 2008	66.11	62.51	83.10
June 2008	66.05	62.38	83.10
July 2008	66.05	62.23	83.10
August 2008	66.06	62.02	83.20
September 2008	65.95	61.90	83.10
October 2008	66.01	61.72	83.00
November 2008	65.85	61.36	83.00
December 2008	65.80	61.00	82.80
January 2009	65.69	60.56	82.80
February 2009	65.79	60.29	82.80
March 2009	65.56	59.85	82.60
April 2009	65.67	59.78	82.80
May 2009	65.72	59.57	82.90
June 2009	65.65	59.41	82.90
July 2009	65.50	59.31	82.80
August 2009	65.36	59.08	82.80
September 2009	65.09	58.74	82.50
October 2009	65.01	58.52	82.50
November 2009	65.00	58.57	82.40
December 2009	64.62	58.25	82.00
January 2010	64.81	58.45	82.40
February 2010	64.85	58.47	82.30
March 2010	64.92	58.51	82.40
April 2010	65.15	58.69	82.60
May 2010	64.88	58.63	82.30
June 2010	64.63	58.54	82.20
July 2010	64.61	58.51	81.90
August 2010	64.72	58.56	82.00
September 2010	64.61	58.49	82.00
October 2010	64.41	58.32	81.80
November 2010	64.56	58.25	82.00
December 2010	64.32	58.31	81.90
January 2011	64.21	58.34	81.70
February 2011	64.15	58.36	81.60
March 2011	64.17	58.43	81.70
April 2011	64.20	58.37	81.70
May 2011	64.13	58.34	81.70
June 2011	64.03	58.20	81.70
July 2011	63.96	58.21	81.40
August 2011	64.10	58.34	81.60
September 2011	64.20	58.39	81.50
October 2011	64.08	58.42	81.30
November 2011	64.10	58.57	81.50
December 2011	64.01	58.57	81.60
January 2012	63.72	58.44	81.50
February 2012	63.80	58.51	81.50
March 2012	63.79	58.55	81.50
April 2012	63.66	58.45	81.40
May 2012	63.74	58.53	81.40
June 2012	63.78	58.56	81.50
July 2012	63.67	58.47	81.40
August 2012	63.54	58.42	81.40
September 2012	63.65	58.68	81.50
October 2012	63.76	58.79	81.60
November 2012	63.62	58.70	81.20
December 2012	63.69	58.66	81.40
January 2013	63.66	58.57	81.10
February 2013	63.44	58.56	81.00
March 2013	63.27	58.50	81.00
April 2013	63.38	58.58	81.00
May 2013	63.39	58.64	81.20
June 2013	63.43	58.64	81.20
July 2013	63.31	58.70	81.20
August 2013	63.26	58.68	81.00
September 2013	63.24	58.67	81.00
October 2013	62.78	58.26	80.60
November 2013	62.97	58.60	81.00
December 2013	62.89	58.68	80.80
January 2014	62.92	58.79	80.90
February 2014	62.93	58.74	81.10
March 2014	63.10	58.91	81.10
April 2014	62.79	58.87	80.80
May 2014	62.87	58.89	80.70
June 2014	62.83	59.01	81.00
July 2014	62.90	59.03	80.80
August 2014	62.90	59.03	81.10
September 2014	62.81	59.08	80.80
October 2014	62.90	59.29	80.90
November 2014	62.89	59.24	80.90
December 2014	62.78	59.28	80.90
January 2015	62.89	59.33	81.00
February 2015	62.69	59.25	80.90
March 2015	62.63	59.23	80.80
April 2015	62.74	59.33	81.00
May 2015	62.93	59.41	81.00
June 2015	62.64	59.35	80.90
July 2015	62.58	59.32	80.70
August 2015	62.59	59.41	80.70
September 2015	62.37	59.23	80.60
October 2015	62.49	59.34	80.80
November 2015	62.56	59.39	80.90
December 2015	62.75	59.60	81.00
January 2016	62.75	59.68	81.20
February 2016	62.83	59.76	81.10
March 2016	62.93	59.80	81.40
April 2016	62.81	59.68	81.20
May 2016	62.68	59.67	81.10
June 2016	62.71	59.63	81.30
July 2016	62.75	59.72	81.20
August 2016	62.86	59.78	81.30
September 2016	62.89	59.77	81.50
October 2016	62.82	59.75	81.60
November 2016	62.71	59.77	81.40
December 2016	62.72	59.78	81.40
January 2017	62.85	59.87	81.50
February 2017	62.87	59.95	81.60
March 2017	62.90	60.12	81.60
April 2017	62.91	60.16	81.70
May 2017	62.77	60.02	81.60
June 2017	62.80	60.08	81.60
July 2017	62.86	60.14	81.80
August 2017	62.93	60.15	81.70
September 2017	63.07	60.42	81.80
October 2017	62.73	60.15	81.60
November 2017	62.76	60.15	81.80
December 2017	62.72	60.16	81.90
January 2018	62.75	60.16	81.80
February 2018	63.01	60.41	82.10
March 2018	62.87	60.35	82.00
April 2018	62.79	60.33	81.90
May 2018	62.79	60.41	81.80
June 2018	62.93	60.39	82.10
July 2018	62.91	60.49	82.10
August 2018	62.70	60.30	82.00
September 2018	62.74	60.42	81.80
October 2018	62.93	60.57	82.30
November 2018	62.94	60.61	82.20
December 2018	63.05	60.62	82.30
January 2019	63.21	60.68	82.60
February 2019	63.15	60.74	82.50
March 2019	63.03	60.63	82.50
April 2019	62.80	60.55	82.20
May 2019	62.83	60.56	82.10

Note: The data are monthly. The prime-age labor force participation rate is a percentage of the population aged 25 to 54. The labor force participation rate and the employment-to-population ratio are percentages of the population aged 16 and over.

Source: Bureau of Labor Statistics via Haver Analytics.

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How Have Lower-Educated Workers Fared since the Great Recession?: Figure A. Prime-age employment and wages by education, 2007–18

Employment-to-population ratios
Annual
Percentage point change from 2007

Period	High school or less	College plus
2007	0.00	0.00
2008	-1.42	-0.11
2009	-5.59	-2.01
2010	-6.19	-2.65
2011	-6.47	-2.39
2012	-5.95	-2.00
2013	-5.94	-1.97
2014	-4.83	-1.62
2015	-4.85	-1.21
2016	-4.06	-0.89
2017	-3.12	-0.66
2018	-2.27	-0.28

Source: Staff calculations using the Current Population Survey.

Real wages
Annual
Percent change from 2007

Period	High school or less	College plus
2007	0.00	0.00
2008	-0.68	0.12
2009	1.01	1.77
2010	-0.87	1.33
2011	-2.82	-1.32
2012	-3.26	-1.71
2013	-4.23	-1.51
2014	-3.74	-3.22
2015	-2.21	-0.30
2016	-1.01	1.57
2017	0.82	1.34
2018	1.35	1.43

Source: Staff calculations using the Current Population Survey.

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How Have Lower-Educated Workers Fared since the Great Recession?: Figure B. Response of EPOP by education to state-level recessions

Percentage points

Years relative to shock	High school or less	College plus	High school or less upper bound	High school or less lower bound	College plus upper bound	College plus lower bound
-1	0.00	0.00	0.00	0.00	0.00	0.00
0	-0.35	-0.05	-0.19	-0.51	0.06	-0.17
1	-0.44	-0.18	-0.22	-0.65	-0.04	-0.33
2	-0.50	-0.09	-0.21	-0.79	0.03	-0.22
3	-0.43	-0.08	-0.18	-0.68	0.03	-0.20
4	-0.44	-0.02	-0.15	-0.73	0.12	-0.17
5	-0.37	-0.02	-0.07	-0.66	0.18	-0.23
6	-0.18	-0.01	-0.01	-0.35	0.18	-0.21
7	-0.05	0.02	0.16	-0.27	0.21	-0.17
8	-0.00	0.04	0.23	-0.23	0.27	-0.20
9	-0.03	0.06	0.29	-0.35	0.32	-0.20
10	-0.04	0.18	0.23	-0.31	0.39	-0.04

Note: EPOP refers to the employment-to-population ratio. Shaded areas are 95 percent confidence bands. Data extend from 1978 through 2018.

Source: Tomaz Cajner, John Coglianese, and Joshua Montes (2019), "Cyclical Dynamics of the U.S. Labor Market," unpublished paper, Board of Governors of the Federal Reserve System, Division of Research and Statistics, March.

Return to text

Figure 4. Unemployment rate by race and ethnicity

Monthly
Percent

Period	White	Black or African American	Asian	Hispanic or Latino
January 2007	4.2	7.9	3.1	5.5
February 2007	4.1	8.0	2.6	5.1
March 2007	3.8	8.4	3.0	5.0
April 2007	4.0	8.3	3.5	5.6
May 2007	3.9	8.3	3.2	5.8
June 2007	4.1	8.5	2.7	5.5
July 2007	4.2	8.1	2.7	5.9
August 2007	4.2	7.6	3.5	5.5
September 2007	4.2	8.0	3.4	5.9
October 2007	4.1	8.5	3.8	5.7
November 2007	4.2	8.5	3.6	5.9
December 2007	4.4	9.0	3.7	6.3
January 2008	4.4	9.1	3.1	6.3
February 2008	4.4	8.4	2.9	6.2
March 2008	4.5	9.2	3.6	6.9
April 2008	4.4	8.6	3.5	7.1
May 2008	4.8	9.6	4.1	6.9
June 2008	5.0	9.4	4.2	7.6
July 2008	5.2	10.0	3.7	7.5
August 2008	5.4	10.6	4.5	8.0
September 2008	5.4	11.3	4.0	8.0
October 2008	5.9	11.4	3.9	8.8
November 2008	6.2	11.5	4.8	8.7
December 2008	6.7	12.1	5.1	9.4
January 2009	7.1	12.7	6.1	10.1
February 2009	7.6	13.7	6.7	11.3
March 2009	8.0	13.7	6.5	11.7
April 2009	8.1	15.0	6.8	11.4
May 2009	8.5	15.0	7.0	12.3
June 2009	8.7	14.8	7.9	12.1
July 2009	8.7	14.8	8.1	12.5
August 2009	8.9	14.8	7.6	13.0
September 2009	8.9	15.3	7.6	12.6
October 2009	9.2	15.8	7.6	12.8
November 2009	9.2	15.7	7.2	12.4
December 2009	9.0	16.1	8.4	12.8
January 2010	8.8	16.5	8.3	12.9
February 2010	8.9	16.1	8.2	12.7
March 2010	8.9	16.8	7.6	12.9
April 2010	9.0	16.6	7.0	12.5
May 2010	8.7	15.5	7.8	12.0
June 2010	8.6	15.2	7.4	12.3
July 2010	8.5	15.6	7.9	12.2
August 2010	8.6	15.9	7.3	12.0
September 2010	8.6	16.0	6.6	12.3
October 2010	8.6	15.6	7.2	12.3
November 2010	8.9	16.2	7.5	12.9
December 2010	8.5	15.5	7.2	12.9
January 2011	8.1	15.8	6.8	12.3
February 2011	8.1	15.5	6.7	11.8
March 2011	8.0	15.8	7.3	11.6
April 2011	8.1	16.5	6.5	11.9
May 2011	7.9	16.3	7.2	11.6
June 2011	8.1	16.2	6.5	11.5
July 2011	8.0	15.9	7.4	11.2
August 2011	7.9	16.4	7.2	11.2
September 2011	7.9	15.9	8.0	11.2
October 2011	7.9	14.6	7.4	11.3
November 2011	7.7	15.6	6.4	11.2
December 2011	7.5	15.4	6.8	11.1
January 2012	7.4	13.6	6.7	10.7
February 2012	7.4	14.0	6.2	10.9
March 2012	7.3	14.0	6.4	10.6
April 2012	7.4	13.3	5.4	10.3
May 2012	7.4	13.5	5.5	10.9
June 2012	7.3	14.5	6.1	10.9
July 2012	7.3	14.2	5.9	10.2
August 2012	7.2	13.8	5.9	10.1
September 2012	7.0	13.6	4.9	9.7
October 2012	6.9	14.1	4.9	10.0
November 2012	6.8	13.3	6.3	9.9
December 2012	6.9	14.0	6.6	9.6
January 2013	7.1	13.7	6.4	9.7
February 2013	6.8	13.8	6.0	9.7
March 2013	6.7	13.0	5.1	9.3
April 2013	6.7	13.3	5.3	9.0
May 2013	6.7	13.4	4.5	9.0
June 2013	6.6	14.2	4.7	9.1
July 2013	6.5	12.6	5.3	9.4
August 2013	6.4	12.8	5.1	9.2
September 2013	6.3	13.0	5.4	8.8
October 2013	6.3	12.8	5.4	9.1
November 2013	6.1	12.3	5.2	8.7
December 2013	5.9	11.9	4.3	8.3
January 2014	5.7	12.1	4.7	8.3
February 2014	5.8	11.8	5.9	8.2
March 2014	5.8	12.1	5.5	7.9
April 2014	5.3	11.6	5.9	7.2
May 2014	5.4	11.4	5.7	7.7
June 2014	5.3	11.0	4.7	7.8
July 2014	5.3	11.6	4.2	7.7
August 2014	5.3	11.4	4.5	7.4
September 2014	5.1	11.0	4.4	6.8
October 2014	4.9	10.6	5.1	6.8
November 2014	5.0	10.9	4.8	6.6
December 2014	4.7	10.6	4.4	6.4
January 2015	4.9	10.3	4.0	6.7
February 2015	4.7	10.1	4.0	6.8
March 2015	4.8	9.9	3.2	6.8
April 2015	4.7	9.8	4.4	6.8
May 2015	4.8	10.3	4.1	6.8
June 2015	4.6	9.6	3.8	6.8
July 2015	4.5	9.1	4.0	6.9
August 2015	4.4	9.4	3.4	6.6
September 2015	4.4	9.3	3.5	6.2
October 2015	4.4	8.9	3.5	6.3
November 2015	4.4	9.4	3.9	6.4
December 2015	4.4	8.5	4.1	6.2
January 2016	4.3	8.8	3.7	5.8
February 2016	4.2	8.6	3.8	5.4
March 2016	4.3	8.9	4.0	5.5
April 2016	4.4	8.9	3.8	6.1
May 2016	4.2	8.2	4.1	5.6
June 2016	4.3	8.7	3.5	5.9
July 2016	4.2	8.4	3.8	5.5
August 2016	4.4	8.0	4.2	5.6
September 2016	4.4	8.4	3.8	6.4
October 2016	4.4	8.3	3.4	5.7
November 2016	4.2	8.0	3.1	5.7
December 2016	4.2	7.9	2.7	5.9
January 2017	4.3	7.7	3.7	5.8
February 2017	4.0	8.0	3.5	5.5
March 2017	3.9	7.9	3.3	5.0
April 2017	3.8	7.9	3.2	5.1
May 2017	3.8	7.7	3.7	5.1
June 2017	3.8	7.1	3.6	4.9
July 2017	3.7	7.4	3.8	5.2
August 2017	3.8	7.6	4.0	5.1
September 2017	3.7	7.1	3.6	5.1
October 2017	3.5	7.3	3.0	4.9
November 2017	3.7	7.3	3.0	4.8
December 2017	3.7	6.7	2.5	4.9
January 2018	3.5	7.7	3.0	5.0
February 2018	3.7	6.8	3.0	4.9
March 2018	3.6	6.8	3.1	5.1
April 2018	3.5	6.5	2.8	4.8
May 2018	3.5	5.9	2.2	4.9
June 2018	3.5	6.5	3.2	4.6
July 2018	3.3	6.6	3.1	4.5
August 2018	3.4	6.3	3.0	4.7
September 2018	3.3	6.0	3.5	4.5
October 2018	3.3	6.2	3.1	4.4
November 2018	3.4	6.0	2.7	4.5
December 2018	3.4	6.6	3.3	4.4
January 2019	3.5	6.8	3.1	4.9
February 2019	3.3	7.0	3.1	4.3
March 2019	3.4	6.7	3.1	4.7
April 2019	3.1	6.7	2.2	4.2
May 2019	3.3	6.2	2.5	4.2

Note: Unemployment rate measures total unemployed as a percentage of the labor force. Persons whose ethnicity is identified as Hispanic or Latino may be of any race. The shaded bar indicates a period of business recession as defined by the National Bureau of Economic Research: December 2007-June 2009.

Source: Bureau of Labor Statistics via Haver Analytics.

Return to text

Figure 5. Prime-age labor force participation rate by race and ethnicity

Monthly
Percent

Period	White	Black or African American	Asian	Hispanic or Latino
January 2007	83.8	80.3	81.4	80.5
February 2007	83.8	80.3	81.5	80.5
March 2007	83.7	80.5	81.0	80.5
April 2007	83.6	80.6	80.2	80.4
May 2007	83.6	80.6	80.2	80.5
June 2007	83.6	80.2	80.6	80.5
July 2007	83.6	79.9	81.1	80.6
August 2007	83.6	79.7	81.3	80.7
September 2007	83.6	79.8	80.8	80.8
October 2007	83.7	79.7	80.5	80.6
November 2007	83.8	79.8	80.4	80.5
December 2007	83.9	79.6	80.7	80.5
January 2008	83.9	79.7	81.2	80.4
February 2008	83.8	79.9	81.4	80.3
March 2008	83.7	80.4	82.0	80.2
April 2008	83.6	80.6	82.5	80.3
May 2008	83.6	80.8	82.5	80.7
June 2008	83.6	80.7	82.4	80.9
July 2008	83.6	80.8	82.0	80.9
August 2008	83.7	80.9	81.8	80.7
September 2008	83.8	80.7	81.5	80.6
October 2008	83.8	80.5	81.4	80.6
November 2008	83.8	80.2	81.2	80.3
December 2008	83.8	80.1	81.1	80.2
January 2009	83.7	79.8	81.0	80.1
February 2009	83.7	79.7	81.2	80.2
March 2009	83.6	79.3	81.5	80.4
April 2009	83.6	79.1	81.8	80.4
May 2009	83.5	79.1	81.6	80.4
June 2009	83.5	79.2	81.6	80.1
July 2009	83.5	79.3	81.6	80.0
August 2009	83.5	79.2	81.6	79.9
September 2009	83.4	79.0	81.5	79.8
October 2009	83.3	78.7	81.3	79.8
November 2009	83.3	78.7	81.1	79.9
December 2009	83.2	78.8	81.0	79.9
January 2010	83.2	79.2	80.5	80.2
February 2010	83.2	79.3	80.2	80.3
March 2010	83.4	79.4	79.8	80.7
April 2010	83.4	79.2	80.3	80.4
May 2010	83.2	79.2	80.6	80.3
June 2010	83.0	79.1	80.6	80.2
July 2010	82.8	78.8	80.0	80.3
August 2010	82.8	78.5	79.5	80.3
September 2010	82.8	78.4	79.6	80.4
October 2010	82.8	78.5	79.8	80.6
November 2010	82.8	78.6	79.9	80.6
December 2010	82.7	78.7	79.7	80.4
January 2011	82.7	78.5	79.5	80.1
February 2011	82.7	78.2	79.4	79.5
March 2011	82.6	77.9	79.8	79.1
April 2011	82.6	77.8	79.7	79.1
May 2011	82.6	77.7	80.1	79.3
June 2011	82.5	77.6	79.9	79.4
July 2011	82.5	77.5	80.0	79.4
August 2011	82.5	77.5	79.8	79.7
September 2011	82.4	77.7	79.7	79.8
October 2011	82.3	77.8	80.0	79.8
November 2011	82.3	77.9	80.2	79.5
December 2011	82.2	78.1	80.4	79.6
January 2012	82.3	78.3	80.0	79.6
February 2012	82.3	78.3	79.2	79.6
March 2012	82.4	78.0	78.8	79.5
April 2012	82.3	77.8	78.4	79.4
May 2012	82.3	77.6	78.8	79.4
June 2012	82.3	77.6	79.1	79.4
July 2012	82.4	77.7	79.8	79.3
August 2012	82.3	78.3	80.1	79.3
September 2012	82.3	78.5	80.1	79.2
October 2012	82.3	79.0	79.7	79.4
November 2012	82.2	78.7	79.6	79.2
December 2012	82.2	78.6	79.8	79.1
January 2013	82.1	78.0	79.9	78.8
February 2013	82.0	77.8	80.0	78.8
March 2013	81.8	77.6	79.6	78.8
April 2013	81.8	77.6	79.4	78.5
May 2013	81.9	77.8	79.2	78.6
June 2013	81.9	78.0	79.4	78.6
July 2013	82.0	78.1	79.7	79.1
August 2013	81.9	77.8	80.2	78.9
September 2013	81.9	77.7	80.4	78.8
October 2013	81.7	77.5	80.4	78.4
November 2013	81.7	77.7	80.2	78.4
December 2013	81.7	77.5	79.8	78.5
January 2014	81.8	77.4	79.7	78.9
February 2014	81.8	77.6	79.4	79.0
March 2014	81.8	78.0	79.4	79.2
April 2014	81.8	78.1	79.1	79.2
May 2014	81.8	77.6	78.8	79.1
June 2014	81.8	77.6	78.0	79.1
July 2014	81.8	78.1	77.6	79.0
August 2014	81.8	78.6	77.5	79.0
September 2014	81.8	78.6	77.7	79.0
October 2014	81.8	78.2	77.9	79.1
November 2014	81.8	78.0	78.0	79.1
December 2014	81.8	78.1	78.4	79.0
January 2015	81.8	78.2	78.5	78.9
February 2015	81.8	78.4	78.6	78.8
March 2015	81.7	78.5	78.3	78.8
April 2015	81.6	79.0	78.4	78.9
May 2015	81.6	79.2	78.7	79.1
June 2015	81.7	79.1	78.7	79.0
July 2015	81.7	78.6	78.4	78.9
August 2015	81.6	78.4	77.4	78.7
September 2015	81.6	78.1	76.9	78.5
October 2015	81.7	78.2	76.3	78.4
November 2015	81.7	78.1	77.0	78.5
December 2015	81.8	78.2	77.6	78.6
January 2016	81.9	78.3	78.2	78.6
February 2016	81.9	78.5	78.4	78.5
March 2016	82.0	78.7	78.6	78.7
April 2016	82.0	78.6	79.1	78.5
May 2016	82.1	78.5	79.0	78.4
June 2016	82.1	78.4	78.8	78.2
July 2016	82.1	78.5	78.5	78.4
August 2016	82.2	78.7	78.2	79.1
September 2016	82.2	78.9	78.5	79.4
October 2016	82.3	79.2	78.7	79.6
November 2016	82.2	79.4	79.0	79.4
December 2016	82.2	79.5	78.8	79.1
January 2017	82.1	79.5	79.0	79.2
February 2017	82.2	79.4	79.3	79.3
March 2017	82.2	79.4	79.4	79.5
April 2017	82.3	79.5	79.4	79.5
May 2017	82.3	79.6	79.5	79.4
June 2017	82.3	79.7	79.6	79.3
July 2017	82.4	79.8	79.5	79.3
August 2017	82.4	79.8	79.5	79.3
September 2017	82.4	80.0	79.7	79.3
October 2017	82.3	79.9	79.8	79.1
November 2017	82.4	80.1	79.5	79.1
December 2017	82.5	80.1	79.2	79.1
January 2018	82.6	80.0	79.1	79.2
February 2018	82.6	80.1	79.1	79.4
March 2018	82.6	80.0	79.2	79.5
April 2018	82.6	80.0	79.3	79.8
May 2018	82.6	79.9	79.5	79.8
June 2018	82.7	79.9	79.9	79.9
July 2018	82.7	80.0	80.3	79.8
August 2018	82.7	80.0	80.6	79.7
September 2018	82.6	80.1	80.5	79.4
October 2018	82.7	80.3	80.3	79.5
November 2018	82.8	80.3	80.4	79.6
December 2018	83.1	80.3	80.1	80.1
January 2019	83.2	80.0	79.9	80.2
February 2019	83.3	79.9	79.7	80.2
March 2019	83.2	79.9	80.1	80.2
April 2019	83.1	79.9	80.0	79.9
May 2019	83.0	80.1	79.9	79.7

Note: The prime-age labor force participation rate is a percentage of the population aged 25 to 54. Persons whose ethnicity is identified as Hispanic or Latino may be of any race. The data are seasonally adjusted by Board staff and are 3-month moving averages. The shaded bar indicates a period of business recession as defined by the National Bureau of Economic Research: December 2007-June 2009.

Source: Bureau of Labor Statistics via Haver Analytics.

Return to text

Figure 6. Measures of change in hourly compensation

Quarterly
Percent change from year earlier

Period	Compensation per hour, business sector	Employment cost index, private sector
2003:Q1	2.32	3.63
2003:Q2	3.38	3.48
2003:Q3	4.15	3.90
2003:Q4	5.27	4.00
2004:Q1	4.61	3.83
2004:Q2	4.55	3.90
2004:Q3	5.02	3.76
2004:Q4	4.41	3.85
2005:Q1	5.05	3.48
2005:Q2	3.47	3.13
2005:Q3	3.01	2.90
2005:Q4	3.04	2.88
2006:Q1	4.54	2.65
2006:Q2	4.09	2.83
2006:Q3	2.92	3.02
2006:Q4	3.89	3.20
2007:Q1	4.28	3.17
2007:Q2	4.62	3.15
2007:Q3	4.91	3.12
2007:Q4	4.08	3.00
2008:Q1	2.53	3.17
2008:Q2	2.46	2.96
2008:Q3	2.89	2.84
2008:Q4	2.94	2.45
2009:Q1	-0.65	1.86
2009:Q2	1.62	1.48
2009:Q3	1.44	1.20
2009:Q4	1.05	1.19
2010:Q1	2.98	1.65
2010:Q2	1.58	1.92
2010:Q3	1.36	2.00
2010:Q4	1.23	2.09
2011:Q1	3.70	1.98
2011:Q2	2.11	2.33
2011:Q3	2.26	2.14
2011:Q4	0.52	2.22
2012:Q1	1.19	2.12
2012:Q2	2.27	1.84
2012:Q3	1.75	1.92
2012:Q4	5.87	1.83
2013:Q1	2.09	1.90
2013:Q2	2.29	1.89
2013:Q3	1.81	1.88
2013:Q4	-0.25	1.96
2014:Q1	3.39	1.70
2014:Q2	1.80	2.02
2014:Q3	2.54	2.27
2014:Q4	2.83	2.35
2015:Q1	1.71	2.75
2015:Q2	3.51	1.90
2015:Q3	3.69	1.89
2015:Q4	2.46	1.88
2016:Q1	1.30	1.79
2016:Q2	0.40	2.35
2016:Q3	0.48	2.26
2016:Q4	2.14	2.17
2017:Q1	3.10	2.31
2017:Q2	3.36	2.38
2017:Q3	4.18	2.52
2017:Q4	3.07	2.59
2018:Q1	3.22	2.81
2018:Q2	2.98	2.86
2018:Q3	2.38	2.92
2018:Q4	2.24	2.99
2019:Q1	1.54	2.81

Note: Business-sector compensation is on a 4-quarter percent change basis. For the private-sector employment cost index, change is over the 12 months ending in the last month of each quarter.

Source: Bureau of Labor Statistics via Haver Analytics.

Monthly
Percent change from year earlier

Period	Average hourly earnings, private sector	Atlanta Fed's Wage Growth Tracker
January 2003	ND	3.7
February 2003	ND	3.9
March 2003	ND	3.7
April 2003	ND	3.5
May 2003	ND	3.5
June 2003	ND	3.6
July 2003	ND	3.7
August 2003	ND	3.5
September 2003	ND	3.5
October 2003	ND	3.4
November 2003	ND	3.3
December 2003	ND	3.3
January 2004	ND	3.3
February 2004	ND	3.4
March 2004	ND	3.4
April 2004	ND	3.4
May 2004	ND	3.4
June 2004	ND	3.3
July 2004	ND	3.4
August 2004	ND	3.5
September 2004	ND	3.7
October 2004	ND	3.7
November 2004	ND	3.7
December 2004	ND	3.6
January 2005	ND	3.6
February 2005	ND	3.5
March 2005	ND	3.6
April 2005	ND	3.5
May 2005	ND	3.6
June 2005	ND	3.8
July 2005	ND	4.0
August 2005	ND	4.0
September 2005	ND	4.1
October 2005	ND	4.1
November 2005	ND	4.2
December 2005	ND	4.1
January 2006	ND	4.0
February 2006	ND	3.8
March 2006	ND	3.8
April 2006	ND	3.8
May 2006	ND	3.9
June 2006	ND	3.8
July 2006	ND	3.7
August 2006	ND	3.8
September 2006	ND	3.8
October 2006	ND	3.8
November 2006	ND	3.9
December 2006	ND	4.0
January 2007	ND	4.2
February 2007	ND	4.1
March 2007	3.44	4.3
April 2007	3.08	4.1
May 2007	3.48	4.1
June 2007	3.56	4.0
July 2007	3.25	4.2
August 2007	3.35	4.3
September 2007	3.14	4.4
October 2007	3.08	4.3
November 2007	3.07	4.3
December 2007	2.97	4.1
January 2008	2.91	3.9
February 2008	2.80	3.9
March 2008	3.04	4.0
April 2008	2.84	4.1
May 2008	3.07	4.1
June 2008	2.77	4.1
July 2008	3.05	4.1
August 2008	3.33	4.0
September 2008	3.23	4.0
October 2008	3.27	4.0
November 2008	3.60	4.0
December 2008	3.59	3.8
January 2009	3.63	3.6
February 2009	3.43	3.4
March 2009	3.28	3.3
April 2009	3.42	3.2
May 2009	2.93	3.3
June 2009	2.83	3.1
July 2009	2.69	2.9
August 2009	2.44	2.5
September 2009	2.44	2.3
October 2009	2.53	2.1
November 2009	2.19	2.1
December 2009	1.91	1.7
January 2010	2.05	1.6
February 2010	2.09	1.7
March 2010	1.81	1.9
April 2010	1.76	1.9
May 2010	1.90	1.6
June 2010	1.76	1.7
July 2010	1.85	1.8
August 2010	1.75	2.0
September 2010	1.84	1.9
October 2010	1.93	1.7
November 2010	1.65	1.7
December 2010	1.79	1.7
January 2011	1.92	1.9
February 2011	1.87	1.9
March 2011	1.87	1.9
April 2011	1.91	1.9
May 2011	2.04	2.0
June 2011	2.13	2.0
July 2011	2.30	2.1
August 2011	1.99	2.2
September 2011	1.94	2.1
October 2011	2.07	2.2
November 2011	2.02	2.0
December 2011	1.98	2.0
January 2012	1.71	1.9
February 2012	1.79	1.9
March 2012	2.10	2.0
April 2012	2.09	2.2
May 2012	1.78	2.1
June 2012	2.00	2.3
July 2012	1.77	2.1
August 2012	1.86	2.1
September 2012	2.03	2.1
October 2012	1.51	2.1
November 2012	1.90	2.3
December 2012	2.24	2.3
January 2013	2.24	2.3
February 2013	2.15	2.3
March 2013	1.93	2.2
April 2013	2.05	2.2
May 2013	2.14	2.2
June 2013	2.13	2.1
July 2013	2.00	2.3
August 2013	2.26	2.3
September 2013	2.04	2.4
October 2013	2.25	2.2
November 2013	2.24	2.0
December 2013	1.85	2.2
January 2014	1.89	2.3
February 2014	2.27	2.5
March 2014	2.10	2.4
April 2014	1.93	2.3
May 2014	2.09	2.3
June 2014	1.96	2.3
July 2014	2.04	2.4
August 2014	2.16	2.4
September 2014	2.08	2.6
October 2014	2.03	2.8
November 2014	2.03	2.9
December 2014	1.99	2.9
January 2015	2.19	3.0
February 2015	1.93	3.0
March 2015	2.22	3.2
April 2015	2.26	3.3
May 2015	2.34	3.3
June 2015	2.25	3.2
July 2015	2.17	3.2
August 2015	2.20	3.1
September 2015	2.28	3.0
October 2015	2.52	2.9
November 2015	2.43	3.1
December 2015	2.47	3.1
January 2016	2.55	3.1
February 2016	2.42	3.2
March 2016	2.45	3.2
April 2016	2.61	3.4
May 2016	2.40	3.5
June 2016	2.60	3.6
July 2016	2.76	3.4
August 2016	2.55	3.3
September 2016	2.63	3.6
October 2016	2.66	3.9
November 2016	2.61	3.9
December 2016	2.65	3.5
January 2017	2.40	3.2
February 2017	2.72	3.2
March 2017	2.55	3.4
April 2017	2.47	3.5
May 2017	2.54	3.4
June 2017	2.50	3.2
July 2017	2.57	3.3
August 2017	2.57	3.4
September 2017	2.83	3.6
October 2017	2.32	3.4
November 2017	2.47	3.2
December 2017	2.74	2.9
January 2018	2.81	3.0
February 2018	2.57	2.9
March 2018	2.80	3.3
April 2018	2.79	3.3
May 2018	2.94	3.2
June 2018	2.93	3.2
July 2018	2.85	3.3
August 2018	3.18	3.5
September 2018	2.98	3.5
October 2018	3.32	3.7
November 2018	3.31	3.9
December 2018	3.34	3.8
January 2019	3.18	3.7
February 2019	3.40	3.4
March 2019	3.24	3.5
April 2019	3.23	3.6
May 2019	3.11	3.7

Note: For private-sector average hourly earnings, the data are 12-month percent changes and begin in March 2007; for the Atlanta Fed's Wage Growth Tracker, the data are shown as a 3-month moving average of the 12-month percent change.

Source: Bureau of Labor Statistics; Federal Reserve Bank of Atlanta, Wage Growth Tracker; all via Haver Analytics.

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Figure 7. Change in business-sector output per hour

Percent, annual rate

Period	Percent change
1948-1973	3.21
1974-1995	1.59
1996-2000	3.19
2001-2007	2.67
2008-2017	1.33
2018	1.77
2019	2.42

Note: Changes are measured from Q4 of the year immediately preceding the period through Q4 of the final year of the period except 2019 changes, which are calculated from 2018:Q1 to 2019:Q1.

Source: Bureau of Labor Statistics via Haver Analytics.

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Figure 8. Change in the price index for personal consumption expenditures

Monthly
12-month percent change

Period	Total	Excluding food and energy	Trimmed mean
January 2012	2.63	2.13	2.10
February 2012	2.58	2.10	2.03
March 2012	2.35	2.11	2.02
April 2012	2.06	2.04	2.00
May 2012	1.63	1.89	1.93
June 2012	1.59	1.88	1.90
July 2012	1.45	1.82	1.85
August 2012	1.54	1.67	1.79
September 2012	1.70	1.72	1.80
October 2012	1.99	1.91	1.78
November 2012	1.72	1.80	1.70
December 2012	1.65	1.71	1.62
January 2013	1.47	1.59	1.58
February 2013	1.60	1.55	1.62
March 2013	1.28	1.48	1.57
April 2013	1.07	1.41	1.43
May 2013	1.25	1.42	1.40
June 2013	1.53	1.49	1.50
July 2013	1.62	1.51	1.55
August 2013	1.43	1.57	1.54
September 2013	1.16	1.55	1.52
October 2013	1.03	1.52	1.53
November 2013	1.25	1.58	1.61
December 2013	1.46	1.63	1.66
January 2014	1.47	1.52	1.63
February 2014	1.14	1.45	1.56
March 2014	1.48	1.58	1.60
April 2014	1.77	1.69	1.76
May 2014	1.85	1.74	1.81
June 2014	1.76	1.69	1.78
July 2014	1.80	1.77	1.81
August 2014	1.63	1.69	1.76
September 2014	1.62	1.71	1.76
October 2014	1.43	1.58	1.74
November 2014	1.23	1.52	1.72
December 2014	0.84	1.46	1.68
January 2015	0.17	1.34	1.58
February 2015	0.27	1.39	1.64
March 2015	0.28	1.35	1.62
April 2015	0.14	1.32	1.63
May 2015	0.24	1.28	1.61
June 2015	0.33	1.30	1.63
July 2015	0.27	1.22	1.61
August 2015	0.30	1.28	1.67
September 2015	0.13	1.29	1.67
October 2015	0.15	1.22	1.62
November 2015	0.31	1.26	1.60
December 2015	0.41	1.25	1.58
January 2016	0.97	1.47	1.69
February 2016	0.75	1.55	1.71
March 2016	0.68	1.48	1.70
April 2016	0.96	1.56	1.71
May 2016	0.89	1.60	1.75
June 2016	0.86	1.58	1.72
July 2016	0.85	1.69	1.75
August 2016	1.00	1.78	1.77
September 2016	1.25	1.72	1.78
October 2016	1.49	1.86	1.88
November 2016	1.46	1.78	1.89
December 2016	1.74	1.85	1.96
January 2017	2.05	1.90	2.02
February 2017	2.18	1.87	1.97
March 2017	1.86	1.64	1.90
April 2017	1.78	1.64	1.86
May 2017	1.61	1.59	1.82
June 2017	1.51	1.62	1.81
July 2017	1.48	1.50	1.74
August 2017	1.54	1.41	1.72
September 2017	1.77	1.48	1.73
October 2017	1.71	1.58	1.73
November 2017	1.87	1.61	1.76
December 2017	1.81	1.64	1.78
January 2018	1.75	1.63	1.79
February 2018	1.85	1.66	1.80
March 2018	2.07	1.96	1.86
April 2018	2.05	1.89	1.84
May 2018	2.25	1.98	1.91
June 2018	2.28	1.95	1.97
July 2018	2.36	2.04	2.03
August 2018	2.21	1.95	2.02
September 2018	1.99	1.96	1.99
October 2018	2.02	1.84	1.95
November 2018	1.84	1.93	2.00
December 2018	1.76	1.95	1.97
January 2019	1.37	1.79	1.85
February 2019	1.31	1.65	1.89
March 2019	1.48	1.54	1.92
April 2019	1.56	1.62	2.02
May 2019	1.52	1.60	1.99

Source: For trimmed mean, Federal Reserve Bank of Dallas; for all else, Bureau of Economic Analysis; all via Haver Analytics.

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Figure 9. Spot and futures prices for crude oil

Series: Spot price and 24-month-ahead futures contracts

Horizon: January 1, 2014, to July 1, 2019

Description: A line chart with two curves over January 1, 2014, to July 1, 2019. Units are dollars per barrel, and data are weekly. The Brent spot price curve starts at about 110, increases to about 115 by mid-2014, decreases to about 30 by early 2016, increases to about 85 by late 2018, decreases to about 50 by early 2019, increases to a little above 70 around the start of the second quarter, decreases to just over 60, and ends at around 65. The 24-month-ahead futures contracts curve, following a similar pattern, starts at around 100, decreases to about 40 by early 2016, increases to about 75 by late 2018, decreases to about 55 by early 2019, increases to about 65 around the start of the second quarter, decreases to just under 60, and ends at slightly above 60.

Note: The data are weekly averages of daily data. The weekly data begin on Thursdays and extend through July 1, 2019.

Source: ICE Brent Futures via Bloomberg.

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Figure 10. Nonfuel import prices and industrial metals indexes

Monthly
January 2014 = 100

Period	Nonfuel import prices	Industrial metals
January 2014	100.00	100.00
February 2014	100.00	98.33
March 2014	100.34	95.89
April 2014	100.34	98.90
May 2014	100.34	100.23
June 2014	100.25	101.31
July 2014	100.34	106.34
August 2014	100.34	106.53
September 2014	100.17	104.33
October 2014	100.08	101.23
November 2014	99.83	102.29
December 2014	99.75	97.77
January 2015	99.08	91.10
February 2015	98.91	90.33
March 2015	98.49	90.09
April 2015	98.16	92.20
May 2015	98.16	95.08
June 2015	97.99	88.40
July 2015	97.74	83.67
August 2015	97.40	78.54
September 2015	97.15	78.83
October 2015	96.90	77.98
November 2015	96.65	73.01
December 2015	96.31	72.05
January 2016	96.23	70.26
February 2016	96.14	72.82
March 2016	96.06	75.95
April 2016	96.14	76.31
May 2016	96.40	74.94
June 2016	96.23	75.92
July 2016	96.56	79.82
August 2016	96.56	79.59
September 2016	96.56	79.14
October 2016	96.56	80.66
November 2016	96.48	88.34
December 2016	96.48	89.97
January 2017	96.40	91.53
February 2017	96.73	95.17
March 2017	96.90	94.66
April 2017	97.15	92.84
May 2017	97.23	91.40
June 2017	97.32	91.57
July 2017	97.23	95.48
August 2017	97.49	102.56
September 2017	97.82	105.05
October 2017	97.90	108.19
November 2017	97.90	107.82
December 2017	97.74	107.69
January 2018	98.24	112.95
February 2018	98.66	112.51
March 2018	98.74	108.09
April 2018	98.83	110.99
May 2018	98.99	111.84
June 2018	98.74	111.93
July 2018	98.58	101.00
August 2018	98.41	98.87
September 2018	98.41	97.55
October 2018	98.49	99.23
November 2018	98.32	95.93
December 2018	98.32	94.66
January 2019	98.07	93.64
February 2019	98.16	97.54
March 2019	97.99	98.98
April 2019	97.90	98.31
May 2019	97.65	93.02
June 2019	ND	91.30

Note: The data for nonfuel import prices are monthly. The data for industrial metals are a monthly average of daily data and extend through June 28, 2019.

Source: For nonfuel import prices, Bureau of Labor Statistics; for industrial metals, S&P GSCI Industrial Metals Spot Index via Haver Analytics.

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Figure 11. Median inflation expectations

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	2.27
2009:Q3	2.15
2009:Q4	2.10
2010:Q1	2.10
2010:Q2	2.15
2010:Q3	2.10
2010:Q4	2.00
2011:Q1	2.10
2011:Q2	2.27
2011:Q3	2.25
2011:Q4	2.15
2012:Q1	2.15
2012:Q2	2.20
2012:Q3	2.20
2012:Q4	2.10
2013:Q1	2.00
2013:Q2	2.00
2013:Q3	2.00
2013:Q4	2.00
2014:Q1	2.00
2014:Q2	2.00
2014:Q3	2.00
2014:Q4	2.00
2015:Q1	2.00
2015:Q2	1.98
2015:Q3	2.00
2015:Q4	1.90
2016:Q1	1.97
2016:Q2	2.00
2016:Q3	2.00
2016:Q4	2.00
2017:Q1	2.10
2017:Q2	2.09
2017:Q3	2.00
2017:Q4	2.00
2018:Q1	2.00
2018:Q2	2.00
2018:Q3	2.00
2018:Q4	2.00
2019:Q1	2.00
2019:Q2	2.00

Note: The SPF data for inflation expectations for personal consumption expenditures are quarterly and extend from 2007:Q1 through 2019:Q2.

Source: Federal Reserve Bank of Philadelphia, Survey of Professional Forecasters (SPF).

Michigan survey expectations for next 5 to 10 years

Period	Percent
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
March 2013	2.8
April 2013	2.9
May 2013	2.9
June 2013	2.9
July 2013	2.8
August 2013	2.9
September 2013	3.0
October 2013	2.8
November 2013	2.9
December 2013	2.7
January 2014	2.9
February 2014	2.9
March 2014	2.9
April 2014	2.9
May 2014	2.8
June 2014	2.9
July 2014	2.7
August 2014	2.9
September 2014	2.8
October 2014	2.8
November 2014	2.6
December 2014	2.8
January 2015	2.8
February 2015	2.7
March 2015	2.8
April 2015	2.6
May 2015	2.8
June 2015	2.6
July 2015	2.8
August 2015	2.7
September 2015	2.7
October 2015	2.5
November 2015	2.6
December 2015	2.6
January 2016	2.7
February 2016	2.5
March 2016	2.7
April 2016	2.5
May 2016	2.5
June 2016	2.6
July 2016	2.6
August 2016	2.5
September 2016	2.6
October 2016	2.4
November 2016	2.6
December 2016	2.3
January 2017	2.6
February 2017	2.5
March 2017	2.4
April 2017	2.4
May 2017	2.4
June 2017	2.5
July 2017	2.6
August 2017	2.5
September 2017	2.5
October 2017	2.5
November 2017	2.4
December 2017	2.4
January 2018	2.5
February 2018	2.5
March 2018	2.5
April 2018	2.5
May 2018	2.5
June 2018	2.6
July 2018	2.4
August 2018	2.6
September 2018	2.5
October 2018	2.4
November 2018	2.6
December 2018	2.5
January 2019	2.6
February 2019	2.3
March 2019	2.5
April 2019	2.3
May 2019	2.6
June 2019	2.3

Note: The Michigan survey data are monthly and extend through June 2019.

Source: University of Michigan Surveys of Consumers.

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Figure 12. 5-to-10-year-forward inflation compensation

Series: Inflation swaps and TIPS breakeven rates

Horizon: January 7, 2011, to June 28, 2019

Description: A line chart with two curves over January 7, 2011, to June 28, 2019. Units for both series are percent, and data are weekly averages of daily data. The inflation swaps curve starts at about 3, decreases to about 2.25 by late 2014, decreases further to about 1.75 in mid-2016, wavers between about 2 and 2.5 until 2019, and ends at around 2. The TIPS breakeven rates curve falls below the inflation swaps series but maintains the same general trend over the time period.

Note: The data are weekly averages of daily data and extend through June 28, 2019. TIPS is Treasury Inflation-Protected Securities.

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

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Figure 13. Change in real gross domestic product and gross domestic income

Percent, annual rate

Period	Gross domestic product	Gross domestic income	Private domestic final purchases
2012	1.47	2.88	2.60
2013	2.61	1.50	2.60
2014	2.70	3.95	4.33
2015	2.00	1.38	2.65
2016	1.88	1.22	2.69
2017	2.47	2.25	3.29
2018	2.97	2.45	2.98
2019:Q1	3.13	1.00	1.34

Source: Bureau of Economic Analysis via Haver Analytics.

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Figure 14. Change in real private nonresidential fixed investment

Percent, annual rate

Period	Structures	Equipment and intangible capital
2012	3.96	6.13
2013	6.70	5.05
2014	8.81	5.61
2015	-10.73	2.61
2016	2.48	1.57
2017	2.85	7.27
2018	4.90	7.62
2019:Q1	4.33	4.48

Source: Bureau of Economic Analysis via Haver Analytics.

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Figure 15. Private housing starts and permits

Monthly
Millions of units, annual rate

Period	Multifamily starts	Single-family starts	Single-family permits
January 2007	0.28	1.13	1.17
February 2007	0.29	1.19	1.14
March 2007	0.29	1.20	1.15
April 2007	0.29	1.20	1.06
May 2007	0.29	1.13	1.04
June 2007	0.32	1.13	1.00
July 2007	0.31	1.04	0.98
August 2007	0.37	0.96	0.92
September 2007	0.25	0.94	0.86
October 2007	0.39	0.88	0.82
November 2007	0.36	0.83	0.80
December 2007	0.23	0.81	0.74
January 2008	0.31	0.77	0.71
February 2008	0.38	0.72	0.66
March 2008	0.28	0.73	0.64
April 2008	0.33	0.68	0.66
May 2008	0.29	0.68	0.63
June 2008	0.40	0.65	0.61
July 2008	0.31	0.62	0.57
August 2008	0.24	0.61	0.54
September 2008	0.28	0.54	0.53
October 2008	0.24	0.54	0.47
November 2008	0.19	0.46	0.42
December 2008	0.16	0.40	0.36
January 2009	0.13	0.36	0.34
February 2009	0.22	0.36	0.38
March 2009	0.15	0.35	0.36
April 2009	0.09	0.39	0.39
May 2009	0.13	0.41	0.43
June 2009	0.10	0.48	0.46
July 2009	0.09	0.51	0.49
August 2009	0.10	0.49	0.49
September 2009	0.08	0.51	0.48
October 2009	0.06	0.48	0.47
November 2009	0.09	0.50	0.48
December 2009	0.10	0.48	0.51
January 2010	0.10	0.51	0.50
February 2010	0.08	0.53	0.51
March 2010	0.09	0.54	0.54
April 2010	0.12	0.57	0.48
May 2010	0.13	0.46	0.44
June 2010	0.09	0.45	0.43
July 2010	0.12	0.43	0.41
August 2010	0.18	0.42	0.40
September 2010	0.15	0.45	0.40
October 2010	0.11	0.44	0.41
November 2010	0.09	0.45	0.42
December 2010	0.11	0.43	0.45
January 2011	0.20	0.43	0.42
February 2011	0.13	0.39	0.38
March 2011	0.17	0.43	0.40
April 2011	0.14	0.42	0.40
May 2011	0.15	0.41	0.41
June 2011	0.17	0.44	0.41
July 2011	0.19	0.43	0.42
August 2011	0.16	0.42	0.43
September 2011	0.23	0.42	0.43
October 2011	0.17	0.44	0.44
November 2011	0.25	0.47	0.45
December 2011	0.17	0.52	0.46
January 2012	0.21	0.52	0.46
February 2012	0.24	0.47	0.49
March 2012	0.22	0.47	0.48
April 2012	0.25	0.50	0.49
May 2012	0.19	0.52	0.49
June 2012	0.23	0.52	0.50
July 2012	0.22	0.52	0.52
August 2012	0.22	0.54	0.52
September 2012	0.25	0.59	0.56
October 2012	0.30	0.61	0.57
November 2012	0.26	0.57	0.57
December 2012	0.36	0.62	0.58
January 2013	0.28	0.60	0.59
February 2013	0.31	0.65	0.61
March 2013	0.39	0.62	0.61
April 2013	0.25	0.59	0.62
May 2013	0.32	0.61	0.62
June 2013	0.23	0.61	0.63
July 2013	0.29	0.59	0.62
August 2013	0.29	0.63	0.63
September 2013	0.27	0.58	0.63
October 2013	0.33	0.60	0.62
November 2013	0.40	0.70	0.64
December 2013	0.36	0.65	0.61
January 2014	0.32	0.57	0.62
February 2014	0.35	0.59	0.61
March 2014	0.32	0.65	0.62
April 2014	0.40	0.65	0.62
May 2014	0.36	0.65	0.63
June 2014	0.31	0.60	0.65
July 2014	0.43	0.66	0.65
August 2014	0.34	0.64	0.65
September 2014	0.36	0.66	0.66
October 2014	0.38	0.70	0.65
November 2014	0.34	0.66	0.66
December 2014	0.35	0.72	0.67
January 2015	0.39	0.71	0.66
February 2015	0.30	0.59	0.63
March 2015	0.34	0.63	0.66
April 2015	0.45	0.74	0.68
May 2015	0.38	0.71	0.70
June 2015	0.50	0.70	0.70
July 2015	0.38	0.76	0.70
August 2015	0.40	0.74	0.72
September 2015	0.47	0.75	0.71
October 2015	0.35	0.71	0.72
November 2015	0.39	0.78	0.73
December 2015	0.39	0.77	0.72
January 2016	0.35	0.77	0.73
February 2016	0.37	0.84	0.73
March 2016	0.36	0.76	0.73
April 2016	0.39	0.77	0.75
May 2016	0.39	0.74	0.74
June 2016	0.43	0.77	0.75
July 2016	0.46	0.78	0.72
August 2016	0.44	0.72	0.75
September 2016	0.28	0.78	0.75
October 2016	0.45	0.87	0.78
November 2016	0.33	0.83	0.78
December 2016	0.47	0.82	0.82
January 2017	0.42	0.80	0.80
February 2017	0.41	0.88	0.83
March 2017	0.35	0.83	0.83
April 2017	0.33	0.83	0.80
May 2017	0.33	0.79	0.78
June 2017	0.38	0.86	0.81
July 2017	0.35	0.84	0.82
August 2017	0.29	0.87	0.80
September 2017	0.33	0.84	0.83
October 2017	0.38	0.88	0.85
November 2017	0.35	0.95	0.86
December 2017	0.37	0.85	0.88
January 2018	0.45	0.88	0.87
February 2018	0.39	0.91	0.89
March 2018	0.44	0.89	0.85
April 2018	0.38	0.89	0.86
May 2018	0.40	0.94	0.84
June 2018	0.33	0.85	0.85
July 2018	0.32	0.86	0.87
August 2018	0.39	0.89	0.83
September 2018	0.36	0.88	0.85
October 2018	0.35	0.87	0.85
November 2018	0.40	0.80	0.85
December 2018	0.33	0.81	0.83
January 2019	0.33	0.97	0.82
February 2019	0.36	0.79	0.82
March 2019	0.37	0.83	0.82
April 2019	0.41	0.88	0.79
May 2019	0.45	0.82	0.81

Source: U.S. Census Bureau via Haver Analytics.

Return to text

Figure 16. New and existing home sales

Monthly
Millions, annual rate

Period	Existing home sales	New home sales
January 2007	5.74	0.89
February 2007	5.79	0.83
March 2007	5.46	0.83
April 2007	5.29	0.89
May 2007	5.27	0.84
June 2007	5.12	0.79
July 2007	5.07	0.78
August 2007	4.87	0.70
September 2007	4.58	0.69
October 2007	4.43	0.73
November 2007	4.46	0.64
December 2007	4.41	0.62
January 2008	4.17	0.63
February 2008	4.12	0.59
March 2008	4.16	0.54
April 2008	4.11	0.54
May 2008	4.14	0.50
June 2008	4.09	0.49
July 2008	4.15	0.48
August 2008	4.19	0.44
September 2008	4.27	0.43
October 2008	4.09	0.39
November 2008	3.77	0.39
December 2008	4.01	0.38
January 2009	3.82	0.34
February 2009	3.97	0.37
March 2009	3.86	0.34
April 2009	3.90	0.34
May 2009	4.00	0.38
June 2009	4.10	0.39
July 2009	4.37	0.41
August 2009	4.45	0.42
September 2009	4.62	0.39
October 2009	5.02	0.40
November 2009	5.44	0.38
December 2009	4.40	0.35
January 2010	4.19	0.35
February 2010	4.27	0.34
March 2010	4.49	0.38
April 2010	4.82	0.42
May 2010	4.88	0.28
June 2010	4.45	0.31
July 2010	3.45	0.28
August 2010	3.68	0.28
September 2010	3.84	0.32
October 2010	3.83	0.29
November 2010	4.02	0.29
December 2010	4.27	0.33
January 2011	4.42	0.31
February 2011	4.16	0.27
March 2011	4.26	0.30
April 2011	4.17	0.31
May 2011	4.14	0.31
June 2011	4.23	0.30
July 2011	4.15	0.30
August 2011	4.38	0.30
September 2011	4.33	0.30
October 2011	4.34	0.32
November 2011	4.39	0.33
December 2011	4.35	0.34
January 2012	4.48	0.34
February 2012	4.58	0.37
March 2012	4.52	0.35
April 2012	4.59	0.35
May 2012	4.60	0.37
June 2012	4.47	0.36
July 2012	4.53	0.37
August 2012	4.76	0.38
September 2012	4.71	0.39
October 2012	4.79	0.36
November 2012	4.96	0.39
December 2012	4.89	0.40
January 2013	4.98	0.45
February 2013	5.06	0.45
March 2013	5.07	0.44
April 2013	5.09	0.44
May 2013	5.14	0.43
June 2013	5.11	0.47
July 2013	5.27	0.38
August 2013	5.26	0.38
September 2013	5.14	0.40
October 2013	5.04	0.44
November 2013	4.92	0.45
December 2013	4.86	0.43
January 2014	4.76	0.44
February 2014	4.78	0.42
March 2014	4.75	0.41
April 2014	4.79	0.40
May 2014	4.90	0.45
June 2014	4.94	0.42
July 2014	4.98	0.40
August 2014	4.97	0.46
September 2014	5.00	0.47
October 2014	5.12	0.48
November 2014	4.99	0.44
December 2014	5.09	0.50
January 2015	4.92	0.52
February 2015	5.08	0.54
March 2015	5.25	0.48
April 2015	5.17	0.50
May 2015	5.25	0.50
June 2015	5.36	0.48
July 2015	5.44	0.50
August 2015	5.36	0.52
September 2015	5.41	0.46
October 2015	5.28	0.48
November 2015	4.78	0.51
December 2015	5.44	0.55
January 2016	5.43	0.51
February 2016	5.26	0.52
March 2016	5.34	0.53
April 2016	5.47	0.56
May 2016	5.44	0.56
June 2016	5.47	0.56
July 2016	5.37	0.63
August 2016	5.40	0.59
September 2016	5.47	0.57
October 2016	5.56	0.58
November 2016	5.51	0.57
December 2016	5.52	0.56
January 2017	5.64	0.59
February 2017	5.52	0.60
March 2017	5.59	0.63
April 2017	5.53	0.59
May 2017	5.59	0.60
June 2017	5.50	0.62
July 2017	5.47	0.56
August 2017	5.44	0.57
September 2017	5.40	0.64
October 2017	5.48	0.63
November 2017	5.64	0.72
December 2017	5.57	0.66
January 2018	5.40	0.63
February 2018	5.61	0.64
March 2018	5.51	0.65
April 2018	5.43	0.63
May 2018	5.40	0.65
June 2018	5.39	0.62
July 2018	5.39	0.61
August 2018	5.35	0.60
September 2018	5.18	0.61
October 2018	5.22	0.56
November 2018	5.21	0.62
December 2018	5.00	0.56
January 2019	4.93	0.64
February 2019	5.48	0.67
March 2019	5.21	0.71
April 2019	5.21	0.68
May 2019	5.34	0.63

Note: Data are monthly. New home sales includes only single-family sales. Existing home sales includes single-family, condo, townhome, and co-op sales.

Source: For new home sales, U.S. Census Bureau; for existing home sales, National Association of Realtors; all via Haver Analytics.

Return to text

Figure 17. Mortgage rates and housing affordability

Monthly

Period	Housing affordability index
January 2010	166.43
February 2010	166.08
March 2010	167.13
April 2010	165.46
May 2010	169.05
June 2010	171.01
July 2010	174.63
August 2010	177.57
September 2010	177.49
October 2010	176.75
November 2010	177.05
December 2010	174.30
January 2011	177.40
February 2011	178.51
March 2011	178.49
April 2011	181.92
May 2011	180.16
June 2011	184.52
July 2011	191.39
August 2011	188.61
September 2011	188.82
October 2011	194.59
November 2011	188.78
December 2011	190.81
January 2012	190.68
February 2012	191.23
March 2012	198.41
April 2012	190.13
May 2012	192.36
June 2012	194.04
July 2012	196.99
August 2012	197.62
September 2012	198.05
October 2012	199.53
November 2012	198.53
December 2012	200.81
January 2013	199.30
February 2013	194.78
March 2013	188.29
April 2013	185.17
May 2013	184.88
June 2013	179.61
July 2013	170.46
August 2013	164.90
September 2013	165.54
October 2013	164.15
November 2013	167.31
December 2013	164.05
January 2014	162.31
February 2014	164.14
March 2014	166.59
April 2014	166.53
May 2014	165.07
June 2014	165.44
July 2014	165.29
August 2014	164.84
September 2014	166.53
October 2014	164.18
November 2014	165.74
December 2014	165.88
January 2015	171.05
February 2015	170.22
March 2015	169.41
April 2015	168.76
May 2015	168.12
June 2015	167.43
July 2015	165.91
August 2015	165.30
September 2015	165.28
October 2015	165.34
November 2015	164.61
December 2015	160.09
January 2016	163.29
February 2016	165.93
March 2016	170.14
April 2016	167.44
May 2016	168.40
June 2016	168.51
July 2016	170.87
August 2016	170.92
September 2016	168.69
October 2016	168.16
November 2016	167.32
December 2016	162.66
January 2017	156.09
February 2017	155.16
March 2017	160.02
April 2017	161.44
May 2017	163.40
June 2017	159.79
July 2017	160.23
August 2017	159.70
September 2017	158.79
October 2017	159.04
November 2017	157.66
December 2017	157.96
January 2018	155.69
February 2018	152.98
March 2018	150.79
April 2018	148.51
May 2018	147.63
June 2018	147.97
July 2018	147.48
August 2018	146.38
September 2018	146.31
October 2018	143.55
November 2018	141.48
December 2018	144.35
January 2019	146.69
February 2019	148.69
March 2019	151.32
April 2019	153.85

Note: The housing affordability index data are monthly through April 2019. At an index value of 100, a median-income family has exactly enough income to qualify for a median-priced home mortgage. Housing affordability is seasonally adjusted by Board staff.

Source: National Association of Realtors via Haver Analytics.

Weekly

Period	Mortgage rates (percent)
7 January 2010	5.09
14 January 2010	5.06
21 January 2010	4.99
28 January 2010	4.98
4 February 2010	5.01
11 February 2010	4.97
18 February 2010	4.93
25 February 2010	5.05
4 March 2010	4.97
11 March 2010	4.95
18 March 2010	4.96
25 March 2010	4.99
1 April 2010	5.08
8 April 2010	5.21
15 April 2010	5.07
22 April 2010	5.07
29 April 2010	5.06
6 May 2010	5.00
13 May 2010	4.93
20 May 2010	4.84
27 May 2010	4.78
3 June 2010	4.79
10 June 2010	4.72
17 June 2010	4.75
24 June 2010	4.69
1 July 2010	4.58
8 July 2010	4.57
15 July 2010	4.57
22 July 2010	4.56
29 July 2010	4.54
5 August 2010	4.49
12 August 2010	4.44
19 August 2010	4.42
26 August 2010	4.36
2 September 2010	4.32
9 September 2010	4.35
16 September 2010	4.37
23 September 2010	4.37
30 September 2010	4.32
7 October 2010	4.27
14 October 2010	4.19
21 October 2010	4.21
28 October 2010	4.23
4 November 2010	4.24
11 November 2010	4.17
18 November 2010	4.39
25 November 2010	4.40
2 December 2010	4.46
9 December 2010	4.61
16 December 2010	4.83
23 December 2010	4.81
30 December 2010	4.86
6 January 2011	4.77
13 January 2011	4.71
20 January 2011	4.74
27 January 2011	4.80
3 February 2011	4.81
10 February 2011	5.05
17 February 2011	5.00
24 February 2011	4.95
3 March 2011	4.87
10 March 2011	4.88
17 March 2011	4.76
24 March 2011	4.81
31 March 2011	4.86
7 April 2011	4.87
14 April 2011	4.91
21 April 2011	4.80
28 April 2011	4.78
5 May 2011	4.71
12 May 2011	4.63
19 May 2011	4.61
26 May 2011	4.60
2 June 2011	4.55
9 June 2011	4.49
16 June 2011	4.50
23 June 2011	4.50
30 June 2011	4.51
7 July 2011	4.60
14 July 2011	4.51
21 July 2011	4.52
28 July 2011	4.55
4 August 2011	4.39
11 August 2011	4.32
18 August 2011	4.15
25 August 2011	4.22
1 September 2011	4.22
8 September 2011	4.12
15 September 2011	4.09
22 September 2011	4.09
29 September 2011	4.01
6 October 2011	3.94
13 October 2011	4.12
20 October 2011	4.11
27 October 2011	4.10
3 November 2011	4.00
10 November 2011	3.99
17 November 2011	4.00
24 November 2011	3.98
1 December 2011	4.00
8 December 2011	3.99
15 December 2011	3.94
22 December 2011	3.91
29 December 2011	3.95
5 January 2012	3.91
12 January 2012	3.89
19 January 2012	3.88
26 January 2012	3.98
2 February 2012	3.87
9 February 2012	3.87
16 February 2012	3.87
23 February 2012	3.95
1 March 2012	3.90
8 March 2012	3.88
15 March 2012	3.92
22 March 2012	4.08
29 March 2012	3.99
5 April 2012	3.98
12 April 2012	3.88
19 April 2012	3.90
26 April 2012	3.88
3 May 2012	3.84
10 May 2012	3.83
17 May 2012	3.79
24 May 2012	3.78
31 May 2012	3.75
7 June 2012	3.67
14 June 2012	3.71
21 June 2012	3.66
28 June 2012	3.66
5 July 2012	3.62
12 July 2012	3.56
19 July 2012	3.53
26 July 2012	3.49
2 August 2012	3.55
9 August 2012	3.59
16 August 2012	3.62
23 August 2012	3.66
30 August 2012	3.59
6 September 2012	3.55
13 September 2012	3.55
20 September 2012	3.49
27 September 2012	3.40
4 October 2012	3.36
11 October 2012	3.39
18 October 2012	3.37
25 October 2012	3.41
1 November 2012	3.39
8 November 2012	3.40
15 November 2012	3.34
22 November 2012	3.31
29 November 2012	3.32
6 December 2012	3.34
13 December 2012	3.32
20 December 2012	3.37
27 December 2012	3.35
3 January 2013	3.34
10 January 2013	3.40
17 January 2013	3.38
24 January 2013	3.42
31 January 2013	3.53
7 February 2013	3.53
14 February 2013	3.53
21 February 2013	3.56
28 February 2013	3.51
7 March 2013	3.52
14 March 2013	3.63
21 March 2013	3.54
28 March 2013	3.57
4 April 2013	3.54
11 April 2013	3.43
18 April 2013	3.41
25 April 2013	3.40
2 May 2013	3.35
9 May 2013	3.42
16 May 2013	3.51
23 May 2013	3.59
30 May 2013	3.81
6 June 2013	3.91
13 June 2013	3.98
20 June 2013	3.93
27 June 2013	4.46
4 July 2013	4.29
11 July 2013	4.51
18 July 2013	4.37
25 July 2013	4.31
1 August 2013	4.39
8 August 2013	4.40
15 August 2013	4.40
22 August 2013	4.58
29 August 2013	4.51
5 September 2013	4.57
12 September 2013	4.57
19 September 2013	4.50
26 September 2013	4.32
3 October 2013	4.22
10 October 2013	4.23
17 October 2013	4.28
24 October 2013	4.13
31 October 2013	4.10
7 November 2013	4.16
14 November 2013	4.35
21 November 2013	4.22
28 November 2013	4.29
5 December 2013	4.46
12 December 2013	4.42
19 December 2013	4.47
26 December 2013	4.48
2 January 2014	4.53
9 January 2014	4.51
16 January 2014	4.41
23 January 2014	4.39
30 January 2014	4.32
6 February 2014	4.23
13 February 2014	4.28
20 February 2014	4.33
27 February 2014	4.37
6 March 2014	4.28
13 March 2014	4.37
20 March 2014	4.32
27 March 2014	4.40
3 April 2014	4.41
10 April 2014	4.34
17 April 2014	4.27
24 April 2014	4.33
1 May 2014	4.29
8 May 2014	4.21
15 May 2014	4.20
22 May 2014	4.14
29 May 2014	4.12
5 June 2014	4.14
12 June 2014	4.20
19 June 2014	4.17
26 June 2014	4.14
3 July 2014	4.12
10 July 2014	4.15
17 July 2014	4.13
24 July 2014	4.13
31 July 2014	4.12
7 August 2014	4.14
14 August 2014	4.12
21 August 2014	4.10
28 August 2014	4.10
4 September 2014	4.10
11 September 2014	4.12
18 September 2014	4.23
25 September 2014	4.20
2 October 2014	4.19
9 October 2014	4.12
16 October 2014	3.97
23 October 2014	3.92
30 October 2014	3.98
6 November 2014	4.02
13 November 2014	4.01
20 November 2014	3.99
27 November 2014	3.97
4 December 2014	3.89
11 December 2014	3.93
18 December 2014	3.80
25 December 2014	3.83
1 January 2015	3.87
8 January 2015	3.73
15 January 2015	3.66
22 January 2015	3.63
29 January 2015	3.66
5 February 2015	3.59
12 February 2015	3.69
19 February 2015	3.76
26 February 2015	3.80
5 March 2015	3.75
12 March 2015	3.86
19 March 2015	3.78
26 March 2015	3.69
2 April 2015	3.70
9 April 2015	3.66
16 April 2015	3.67
23 April 2015	3.65
30 April 2015	3.68
7 May 2015	3.80
14 May 2015	3.85
21 May 2015	3.84
28 May 2015	3.87
4 June 2015	3.87
11 June 2015	4.04
18 June 2015	4.00
25 June 2015	4.02
2 July 2015	4.08
9 July 2015	4.04
16 July 2015	4.09
23 July 2015	4.04
30 July 2015	3.98
6 August 2015	3.91
13 August 2015	3.94
20 August 2015	3.93
27 August 2015	3.84
3 September 2015	3.89
10 September 2015	3.90
17 September 2015	3.91
24 September 2015	3.86
1 October 2015	3.85
8 October 2015	3.76
15 October 2015	3.82
22 October 2015	3.79
29 October 2015	3.76
5 November 2015	3.87
12 November 2015	3.98
19 November 2015	3.97
26 November 2015	3.95
3 December 2015	3.93
10 December 2015	3.95
17 December 2015	3.97
24 December 2015	3.96
31 December 2015	4.01
7 January 2016	3.97
14 January 2016	3.92
21 January 2016	3.81
28 January 2016	3.79
4 February 2016	3.72
11 February 2016	3.65
18 February 2016	3.65
25 February 2016	3.62
3 March 2016	3.64
10 March 2016	3.68
17 March 2016	3.73
24 March 2016	3.71
31 March 2016	3.71
7 April 2016	3.59
14 April 2016	3.58
21 April 2016	3.59
28 April 2016	3.66
5 May 2016	3.61
12 May 2016	3.57
19 May 2016	3.58
26 May 2016	3.64
2 June 2016	3.66
9 June 2016	3.60
16 June 2016	3.54
23 June 2016	3.56
30 June 2016	3.48
7 July 2016	3.41
14 July 2016	3.42
21 July 2016	3.45
28 July 2016	3.48
4 August 2016	3.43
11 August 2016	3.45
18 August 2016	3.43
25 August 2016	3.43
1 September 2016	3.46
8 September 2016	3.44
15 September 2016	3.50
22 September 2016	3.48
29 September 2016	3.42
6 October 2016	3.42
13 October 2016	3.47
20 October 2016	3.52
27 October 2016	3.47
3 November 2016	3.54
10 November 2016	3.57
17 November 2016	3.94
24 November 2016	4.03
1 December 2016	4.08
8 December 2016	4.13
15 December 2016	4.16
22 December 2016	4.30
29 December 2016	4.32
5 January 2017	4.20
12 January 2017	4.12
19 January 2017	4.09
26 January 2017	4.19
2 February 2017	4.19
9 February 2017	4.17
16 February 2017	4.15
23 February 2017	4.16
2 March 2017	4.10
9 March 2017	4.21
16 March 2017	4.30
23 March 2017	4.23
30 March 2017	4.14
6 April 2017	4.10
13 April 2017	4.08
20 April 2017	3.97
27 April 2017	4.03
4 May 2017	4.02
11 May 2017	4.05
18 May 2017	4.02
25 May 2017	3.95
1 June 2017	3.94
8 June 2017	3.89
15 June 2017	3.91
22 June 2017	3.90
29 June 2017	3.88
6 July 2017	3.96
13 July 2017	4.03
20 July 2017	3.96
27 July 2017	3.92
3 August 2017	3.93
10 August 2017	3.90
17 August 2017	3.89
24 August 2017	3.86
31 August 2017	3.82
7 September 2017	3.78
14 September 2017	3.78
21 September 2017	3.83
28 September 2017	3.83
5 October 2017	3.85
12 October 2017	3.91
19 October 2017	3.88
26 October 2017	3.94
2 November 2017	3.94
9 November 2017	3.90
16 November 2017	3.95
23 November 2017	3.92
30 November 2017	3.90
7 December 2017	3.94
14 December 2017	3.93
21 December 2017	3.94
28 December 2017	3.99
4 January 2018	3.95
11 January 2018	3.99
18 January 2018	4.04
25 January 2018	4.15
1 February 2018	4.22
8 February 2018	4.32
15 February 2018	4.38
22 February 2018	4.40
1 March 2018	4.43
8 March 2018	4.46
15 March 2018	4.44
22 March 2018	4.45
29 March 2018	4.44
5 April 2018	4.40
12 April 2018	4.42
19 April 2018	4.47
26 April 2018	4.58
3 May 2018	4.55
10 May 2018	4.55
17 May 2018	4.61
24 May 2018	4.66
31 May 2018	4.56
7 June 2018	4.54
14 June 2018	4.62
21 June 2018	4.57
28 June 2018	4.55
5 July 2018	4.52
12 July 2018	4.53
19 July 2018	4.52
26 July 2018	4.54
2 August 2018	4.60
9 August 2018	4.59
16 August 2018	4.53
23 August 2018	4.51
30 August 2018	4.52
6 September 2018	4.54
13 September 2018	4.60
20 September 2018	4.65
27 September 2018	4.72
4 October 2018	4.71
11 October 2018	4.90
18 October 2018	4.85
25 October 2018	4.86
1 November 2018	4.83
8 November 2018	4.94
15 November 2018	4.94
22 November 2018	4.81
29 November 2018	4.81
6 December 2018	4.75
13 December 2018	4.63
20 December 2018	4.62
27 December 2018	4.55
3 January 2019	4.51
10 January 2019	4.45
17 January 2019	4.45
24 January 2019	4.45
31 January 2019	4.46
7 February 2019	4.41
14 February 2019	4.37
21 February 2019	4.35
28 February 2019	4.35
7 March 2019	4.41
14 March 2019	4.31
21 March 2019	4.28
28 March 2019	4.06
4 April 2019	4.08
11 April 2019	4.12
18 April 2019	4.17
25 April 2019	4.20
2 May 2019	4.14
9 May 2019	4.10
16 May 2019	4.07
23 May 2019	4.06
30 May 2019	3.99
6 June 2019	3.82
13 June 2019	3.82
20 June 2019	3.84
27 June 2019	3.73

Note: The mortgage rate data are weekly through June 27, 2019.

Source: Freddie Mac Primary Mortgage Market Survey.

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Figure 18. Change in real personal consumption expenditures and disposable personal income

Percent, annual rate

Period	Personal consumption expenditures	Disposable personal income
2013	1.87	-2.49
2014	3.76	5.15
2015	3.02	3.11
2016	2.77	1.59
2017	2.70	2.78
2018	2.57	3.01
2019:H1	2.38	1.66

Note: The values for 2019:H1 are the annualized May/Q4 changes.

Source: Department of Commerce, Bureau of Economic Analysis via Haver Analytics.

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Figure 19. Personal saving rate

Monthly
Percent

Period	Personal saving rate
January 2006	4.20
February 2006	4.20
March 2006	4.20
April 2006	4.00
May 2006	3.80
June 2006	4.00
July 2006	3.40
August 2006	3.60
September 2006	3.60
October 2006	3.60
November 2006	3.90
December 2006	3.70
January 2007	3.70
February 2007	4.10
March 2007	4.40
April 2007	4.20
May 2007	4.00
June 2007	3.80
July 2007	3.70
August 2007	3.40
September 2007	3.50
October 2007	3.40
November 2007	3.10
December 2007	3.60
January 2008	3.70
February 2008	4.10
March 2008	4.00
April 2008	3.40
May 2008	7.80
June 2008	5.50
July 2008	4.40
August 2008	3.80
September 2008	4.70
October 2008	5.50
November 2008	6.40
December 2008	6.40
January 2009	6.20
February 2009	5.50
March 2009	5.90
April 2009	6.80
May 2009	8.20
June 2009	6.70
July 2009	6.00
August 2009	4.90
September 2009	5.90
October 2009	5.40
November 2009	5.90
December 2009	5.90
January 2010	6.10
February 2010	5.80
March 2010	5.70
April 2010	6.40
May 2010	7.00
June 2010	6.90
July 2010	6.80
August 2010	6.90
September 2010	6.70
October 2010	6.60
November 2010	6.60
December 2010	7.10
January 2011	7.40
February 2011	7.60
March 2011	7.00
April 2011	6.90
May 2011	6.90
June 2011	7.20
July 2011	7.30
August 2011	7.20
September 2011	6.80
October 2011	6.80
November 2011	7.00
December 2011	7.80
January 2012	8.00
February 2012	8.00
March 2012	8.50
April 2012	8.70
May 2012	8.80
June 2012	9.10
July 2012	8.20
August 2012	8.00
September 2012	8.20
October 2012	8.80
November 2012	9.70
December 2012	12.00
January 2013	6.30
February 2013	5.80
March 2013	5.90
April 2013	6.40
May 2013	6.70
June 2013	6.80
July 2013	6.60
August 2013	6.70
September 2013	6.80
October 2013	6.30
November 2013	6.20
December 2013	6.40
January 2014	7.10
February 2014	7.30
March 2014	7.40
April 2014	7.40
May 2014	7.40
June 2014	7.40
July 2014	7.50
August 2014	7.20
September 2014	7.40
October 2014	7.20
November 2014	7.30
December 2014	7.60
January 2015	7.70
February 2015	7.90
March 2015	7.40
April 2015	7.60
May 2015	7.50
June 2015	7.60
July 2015	7.60
August 2015	7.70
September 2015	7.70
October 2015	7.60
November 2015	7.20
December 2015	7.30
January 2016	7.70
February 2016	7.20
March 2016	7.50
April 2016	7.00
May 2016	6.60
June 2016	6.20
July 2016	6.40
August 2016	6.30
September 2016	6.30
October 2016	6.40
November 2016	6.40
December 2016	6.30
January 2017	6.70
February 2017	7.20
March 2017	7.00
April 2017	6.70
May 2017	6.90
June 2017	6.60
July 2017	6.70
August 2017	6.80
September 2017	6.60
October 2017	6.50
November 2017	6.20
December 2017	6.20
January 2018	7.00
February 2018	7.40
March 2018	7.20
April 2018	6.80
May 2018	6.60
June 2018	6.50
July 2018	6.40
August 2018	6.40
September 2018	6.40
October 2018	6.20
November 2018	6.00
December 2018	7.40
January 2019	6.80
February 2019	7.10
March 2019	6.20
April 2019	6.10
May 2019	6.10

Source: Bureau of Economic Analysis via Haver Analytics.

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Figure 20. Prices of existing single-family houses

Monthly
Percent change from year earlier

Period	S&P/Case-Shiller national index	Zillow index	CoreLogic price index
January 2008	-6.37	-3.20	-11.18
February 2008	-7.28	-4.00	-12.34
March 2008	-7.84	-4.85	-13.01
April 2008	-8.13	-5.79	-13.62
May 2008	-8.17	-6.73	-13.74
June 2008	-8.26	-7.45	-13.78
July 2008	-8.44	-7.93	-14.10
August 2008	-8.85	-8.42	-14.48
September 2008	-9.61	-8.95	-15.30
October 2008	-10.35	-9.25	-16.09
November 2008	-10.90	-9.56	-16.59
December 2008	-12.00	-9.76	-17.41
January 2009	-12.69	-9.83	-17.88
February 2009	-12.75	-9.85	-17.42
March 2009	-12.74	-9.87	-16.58
April 2009	-12.18	-9.90	-15.29
May 2009	-11.29	-9.89	-13.52
June 2009	-10.06	-9.89	-11.74
July 2009	-9.04	-9.65	-10.19
August 2009	-8.29	-9.30	-8.82
September 2009	-7.59	-8.89	-7.58
October 2009	-6.65	-8.46	-5.91
November 2009	-5.21	-7.85	-3.90
December 2009	-3.85	-7.18	-2.22
January 2010	-2.93	-6.48	-1.38
February 2010	-3.10	-5.66	-1.39
March 2010	-1.99	-5.13	-0.21
April 2010	-1.05	-4.82	0.89
May 2010	-0.78	-4.21	1.06
June 2010	-1.40	-3.24	0.66
July 2010	-2.12	-2.90	-0.21
August 2010	-2.83	-2.85	-1.23
September 2010	-3.36	-2.93	-2.15
October 2010	-3.67	-3.12	-2.82
November 2010	-4.14	-3.37	-3.59
December 2010	-4.12	-3.93	-3.67
January 2011	-4.10	-4.72	-3.59
February 2011	-3.72	-5.45	-3.54
March 2011	-4.05	-5.71	-4.33
April 2011	-4.30	-5.62	-4.53
May 2011	-4.32	-5.70	-4.42
June 2011	-3.91	-6.07	-3.89
July 2011	-3.54	-6.22	-3.04
August 2011	-3.17	-6.06	-2.31
September 2011	-3.07	-5.84	-1.61
October 2011	-3.30	-5.50	-1.33
November 2011	-3.64	-5.20	-1.31
December 2011	-3.90	-4.73	-0.95
January 2012	-3.52	-4.19	-0.33
February 2012	-2.72	-3.63	0.63
March 2012	-1.39	-3.06	1.95
April 2012	-0.48	-2.42	2.75
May 2012	0.27	-1.77	3.43
June 2012	0.87	-1.12	3.82
July 2012	1.37	-0.40	4.17
August 2012	2.07	0.27	4.73
September 2012	3.00	1.00	5.36
October 2012	4.02	1.54	6.05
November 2012	5.35	2.01	7.02
December 2012	6.45	2.61	7.84
January 2013	7.57	3.29	8.68
February 2013	8.33	3.77	9.31
March 2013	8.90	4.30	9.92
April 2013	9.02	4.76	9.95
May 2013	9.08	5.08	9.78
June 2013	9.27	5.47	9.39
July 2013	9.72	5.99	9.44
August 2013	10.16	6.30	9.61
September 2013	10.62	6.54	9.94
October 2013	10.84	6.78	10.15
November 2013	10.70	6.89	10.09
December 2013	10.71	6.86	9.92
January 2014	10.45	6.96	9.90
February 2014	10.15	6.93	9.88
March 2014	8.96	6.77	9.03
April 2014	7.97	6.59	8.06
May 2014	7.04	6.49	7.08
June 2014	6.26	6.20	6.35
July 2014	5.58	5.90	5.75
August 2014	5.06	5.74	5.34
September 2014	4.74	5.46	5.11
October 2014	4.61	5.18	5.15
November 2014	4.59	5.10	5.11
December 2014	4.52	4.95	5.01
January 2015	4.33	4.87	5.05
February 2015	4.24	4.85	5.14
March 2015	4.29	4.83	5.26
April 2015	4.30	4.80	5.30
May 2015	4.35	4.84	5.28
June 2015	4.36	5.06	5.25
July 2015	4.42	5.16	5.12
August 2015	4.48	5.07	5.11
September 2015	4.68	5.06	5.30
October 2015	4.90	5.22	5.39
November 2015	5.12	5.37	5.48
December 2015	5.23	5.47	5.67
January 2016	5.30	5.51	5.74
February 2016	5.19	5.55	5.68
March 2016	5.06	5.70	5.64
April 2016	5.02	5.79	5.60
May 2016	4.95	5.87	5.40
June 2016	4.90	5.95	5.16
July 2016	4.91	5.98	5.18
August 2016	5.01	6.23	5.19
September 2016	5.12	6.66	5.27
October 2016	5.15	6.91	5.40
November 2016	5.22	6.93	5.56
December 2016	5.33	7.07	5.53
January 2017	5.53	7.26	5.55
February 2017	5.60	7.50	5.74
March 2017	5.66	7.52	5.79
April 2017	5.67	7.69	5.74
May 2017	5.70	7.81	5.80
June 2017	5.74	7.65	5.92
July 2017	5.78	7.66	5.95
August 2017	5.87	7.66	6.02
September 2017	5.95	7.50	6.07
October 2017	6.04	7.30	6.13
November 2017	6.11	7.26	6.19
December 2017	6.24	7.27	6.18
January 2018	6.25	7.28	6.12
February 2018	6.47	7.49	6.39
March 2018	6.51	7.60	6.64
April 2018	6.46	7.49	6.62
May 2018	6.30	7.49	6.45
June 2018	6.18	7.60	6.15
July 2018	5.96	7.51	5.88
August 2018	5.70	7.51	5.58
September 2018	5.46	7.56	5.33
October 2018	5.31	7.77	5.17
November 2018	4.98	7.97	4.77
December 2018	4.56	8.13	4.36
January 2019	4.16	8.03	4.08
February 2019	3.87	7.58	3.83
March 2019	3.65	6.97	3.42
April 2019	3.54	6.27	3.29
May 2019	ND	5.39	3.60

Note: The data for the S&P/Case-Shiller index extend through April 2019.

Source: CoreLogic Home Price Index; Zillow; S&P/Case-Shiller U.S. National Home Price Index. The S&P/Case-Shiller Index is a product of S&P Dow Jones Indices LLC and/or its affiliates. (For Dow Jones Indices licensing information, see the note on the Contents page: For figures 20 and 34, note that the S&P 500 Index and the Dow Jones Bank Index are products of S&P Dow Jones Indices LLC and/or its affiliates and have been licensed for use by the Board. Copyright © 2019 S&P Dow Jones Indices LLC, a division of S&P Global, and/or its affiliates. All rights reserved. Redistribution, reproduction, and/or photocopying in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC's indices please visit www.spdji.com. S&P® is a registered trademark of Standard & Poor's Financial Services LLC, and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent, and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.)

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Figure 21. Wealth-to-income ratio

Quarterly
Ratio

Period	Ratio
1999:Q1	5.78
1999:Q2	5.90
1999:Q3	5.82
1999:Q4	6.08
2000:Q1	6.08
2000:Q2	5.95
2000:Q3	5.96
2000:Q4	5.83
2001:Q1	5.65
2001:Q2	5.80
2001:Q3	5.54
2001:Q4	5.79
2002:Q1	5.71
2002:Q2	5.56
2002:Q3	5.42
2002:Q4	5.50
2003:Q1	5.47
2003:Q2	5.63
2003:Q3	5.63
2003:Q4	5.83
2004:Q1	6.01
2004:Q2	6.01
2004:Q3	6.08
2004:Q4	6.22
2005:Q1	6.36
2005:Q2	6.45
2005:Q3	6.55
2005:Q4	6.58
2006:Q1	6.65
2006:Q2	6.57
2006:Q3	6.57
2006:Q4	6.64
2007:Q1	6.62
2007:Q2	6.58
2007:Q3	6.55
2007:Q4	6.39
2008:Q1	6.10
2008:Q2	5.79
2008:Q3	5.61
2008:Q4	5.32
2009:Q1	5.25
2009:Q2	5.28
2009:Q3	5.47
2009:Q4	5.49
2010:Q1	5.54
2010:Q2	5.40
2010:Q3	5.51
2010:Q4	5.62
2011:Q1	5.61
2011:Q2	5.63
2011:Q3	5.43
2011:Q4	5.53
2012:Q1	5.58
2012:Q2	5.54
2012:Q3	5.74
2012:Q4	5.64
2013:Q1	6.09
2013:Q2	6.14
2013:Q3	6.30
2013:Q4	6.44
2014:Q1	6.42
2014:Q2	6.44
2014:Q3	6.38
2014:Q4	6.45
2015:Q1	6.54
2015:Q2	6.48
2015:Q3	6.34
2015:Q4	6.44
2016:Q1	6.45
2016:Q2	6.52
2016:Q3	6.62
2016:Q4	6.62
2017:Q1	6.66
2017:Q2	6.73
2017:Q3	6.80
2017:Q4	6.88
2018:Q1	6.83
2018:Q2	6.89
2018:Q3	6.94
2018:Q4	6.59
2019:Q1	6.85

Note: The series is the ratio of household net worth to disposable personal income.

Source: For net worth, Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States"; for income, Bureau of Economic Analysis via Haver Analytics.

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Figure 22. Indexes of consumer sentiment

Monthly

Period	Conference Board (Index)	Michigan survey (Index)
January 2000	144.7	112.0
February 2000	140.8	111.3
March 2000	137.1	107.1
April 2000	137.7	109.2
May 2000	144.7	110.7
June 2000	139.2	106.4
July 2000	143.0	108.3
August 2000	140.8	107.3
September 2000	142.5	106.8
October 2000	135.8	105.8
November 2000	132.6	107.6
December 2000	128.6	98.4
January 2001	115.7	94.7
February 2001	109.2	90.6
March 2001	116.9	91.5
April 2001	109.9	88.4
May 2001	116.1	92.0
June 2001	118.9	92.6
July 2001	116.3	92.4
August 2001	114.0	91.5
September 2001	97.0	81.8
October 2001	85.3	82.7
November 2001	84.9	83.9
December 2001	94.6	88.8
January 2002	97.8	93.0
February 2002	95.0	90.7
March 2002	110.7	95.7
April 2002	108.5	93.0
May 2002	110.3	96.9
June 2002	106.3	92.4
July 2002	97.4	88.1
August 2002	94.5	87.6
September 2002	93.7	86.1
October 2002	79.6	80.6
November 2002	84.9	84.2
December 2002	80.7	86.7
January 2003	78.8	82.4
February 2003	64.8	79.9
March 2003	61.4	77.6
April 2003	81.0	86.0
May 2003	83.6	92.1
June 2003	83.5	89.7
July 2003	77.0	90.9
August 2003	81.7	89.3
September 2003	77.0	87.7
October 2003	81.7	89.6
November 2003	92.5	93.7
December 2003	94.8	92.6
January 2004	97.7	103.8
February 2004	88.5	94.4
March 2004	88.5	95.8
April 2004	93.0	94.2
May 2004	93.1	90.2
June 2004	102.8	95.6
July 2004	105.7	96.7
August 2004	98.7	95.9
September 2004	96.7	94.2
October 2004	92.9	91.7
November 2004	92.6	92.8
December 2004	102.7	97.1
January 2005	105.1	95.5
February 2005	104.4	94.1
March 2005	103.0	92.6
April 2005	97.5	87.7
May 2005	103.1	86.9
June 2005	106.2	96.0
July 2005	103.6	96.5
August 2005	105.5	89.1
September 2005	87.5	76.9
October 2005	85.2	74.2
November 2005	98.3	81.6
December 2005	103.8	91.5
January 2006	106.8	91.2
February 2006	102.7	86.7
March 2006	107.5	88.9
April 2006	109.8	87.4
May 2006	104.7	79.1
June 2006	105.4	84.9
July 2006	107.0	84.7
August 2006	100.2	82.0
September 2006	105.9	85.4
October 2006	105.1	93.6
November 2006	105.3	92.1
December 2006	110.0	91.7
January 2007	110.2	96.9
February 2007	111.2	91.3
March 2007	108.2	88.4
April 2007	106.3	87.1
May 2007	108.5	88.3
June 2007	105.3	85.3
July 2007	111.9	90.4
August 2007	105.6	83.4
September 2007	99.5	83.4
October 2007	95.2	80.9
November 2007	87.8	76.1
December 2007	90.6	75.5
January 2008	87.3	78.4
February 2008	76.4	70.8
March 2008	65.9	69.5
April 2008	62.8	62.6
May 2008	58.1	59.8
June 2008	51.0	56.4
July 2008	51.9	61.2
August 2008	58.5	63.0
September 2008	61.4	70.3
October 2008	38.8	57.6
November 2008	44.7	55.3
December 2008	38.6	60.1
January 2009	37.4	61.2
February 2009	25.3	56.3
March 2009	26.9	57.3
April 2009	40.8	65.1
May 2009	54.8	68.7
June 2009	49.3	70.8
July 2009	47.4	66.0
August 2009	54.5	65.7
September 2009	53.4	73.5
October 2009	48.7	70.6
November 2009	50.6	67.4
December 2009	53.6	72.5
January 2010	56.5	74.4
February 2010	46.4	73.6
March 2010	52.3	73.6
April 2010	57.7	72.2
May 2010	62.7	73.6
June 2010	54.3	76.0
July 2010	51.0	67.8
August 2010	53.2	68.9
September 2010	48.6	68.2
October 2010	49.9	67.7
November 2010	57.8	71.6
December 2010	63.4	74.5
January 2011	64.8	74.2
February 2011	72.0	77.5
March 2011	63.8	67.5
April 2011	66.0	69.8
May 2011	61.7	74.3
June 2011	57.6	71.5
July 2011	59.2	63.7
August 2011	45.2	55.8
September 2011	46.4	59.5
October 2011	40.9	60.8
November 2011	55.2	63.7
December 2011	64.8	69.9
January 2012	61.5	75.0
February 2012	71.6	75.3
March 2012	69.5	76.2
April 2012	68.7	76.4
May 2012	64.4	79.3
June 2012	62.7	73.2
July 2012	65.4	72.3
August 2012	61.3	74.3
September 2012	68.4	78.3
October 2012	73.1	82.6
November 2012	71.5	82.7
December 2012	66.7	72.9
January 2013	58.4	73.8
February 2013	68.0	77.6
March 2013	61.9	78.6
April 2013	69.0	76.4
May 2013	74.3	84.5
June 2013	82.1	84.1
July 2013	81.0	85.1
August 2013	81.8	82.1
September 2013	80.2	77.5
October 2013	72.4	73.2
November 2013	72.0	75.1
December 2013	77.5	82.5
January 2014	79.4	81.2
February 2014	78.3	81.6
March 2014	83.9	80.0
April 2014	81.7	84.1
May 2014	82.2	81.9
June 2014	86.4	82.5
July 2014	90.3	81.8
August 2014	93.4	82.5
September 2014	89.0	84.6
October 2014	94.1	86.9
November 2014	91.0	88.8
December 2014	93.1	93.6
January 2015	103.8	98.1
February 2015	98.8	95.4
March 2015	101.4	93.0
April 2015	94.3	95.9
May 2015	94.6	90.7
June 2015	99.8	96.1
July 2015	91.0	93.1
August 2015	101.3	91.9
September 2015	102.6	87.2
October 2015	99.1	90.0
November 2015	92.6	91.3
December 2015	96.3	92.6
January 2016	97.8	92.0
February 2016	94.0	91.7
March 2016	96.1	91.0
April 2016	94.7	89.0
May 2016	92.4	94.7
June 2016	97.4	93.5
July 2016	96.7	90.0
August 2016	101.8	89.8
September 2016	103.5	91.2
October 2016	100.8	87.2
November 2016	109.4	93.8
December 2016	113.3	98.2
January 2017	111.6	98.5
February 2017	116.1	96.3
March 2017	124.9	96.9
April 2017	119.4	97.0
May 2017	117.6	97.1
June 2017	117.3	95.0
July 2017	120.0	93.4
August 2017	120.4	96.8
September 2017	120.6	95.1
October 2017	126.2	100.7
November 2017	128.6	98.5
December 2017	123.1	95.9
January 2018	124.3	95.7
February 2018	130.0	99.7
March 2018	127.0	101.4
April 2018	125.6	98.8
May 2018	128.8	98.0
June 2018	127.1	98.2
July 2018	127.9	97.9
August 2018	134.7	96.2
September 2018	135.3	100.1
October 2018	137.9	98.6
November 2018	136.4	97.5
December 2018	126.6	98.3
January 2019	121.7	91.2
February 2019	131.4	93.8
March 2019	124.2	98.4
April 2019	129.2	97.2
May 2019	131.3	100.0
June 2019	121.5	98.2

Note: The data are monthly and extend through June 2019. The Conference Board data are indexed to 100 in 1985; the Michigan survey data are indexed to 100 in 1966.

Source: University of Michigan Surveys of Consumers; Conference Board.

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Figure 23. Changes in household debt

Quarterly
Percent change from year earlier

Period	Mortgages	Consumer credit	Sum
2007:Q1	9.81	5.65	8.97
2007:Q2	8.38	5.88	7.89
2007:Q3	7.67	6.32	7.40
2007:Q4	7.20	6.11	6.98
2008:Q1	5.92	6.53	6.04
2008:Q2	4.04	5.69	4.36
2008:Q3	2.19	3.45	2.44
2008:Q4	0.75	1.31	0.86
2009:Q1	0.31	-0.92	0.07
2009:Q2	0.40	-2.95	-0.26
2009:Q3	0.43	-3.44	-0.34
2009:Q4	0.88	-3.58	-0.01
2010:Q1	-0.32	-3.67	-0.97
2010:Q2	-0.76	-2.91	-1.18
2010:Q3	-1.18	-2.29	-1.39
2010:Q4	-1.50	-1.10	-1.42
2011:Q1	-0.89	0.76	-0.57
2011:Q2	-0.91	2.36	-0.28
2011:Q3	-0.73	3.29	0.06
2011:Q4	-0.68	4.15	0.33
2012:Q1	-0.76	4.45	0.33
2012:Q2	-0.74	5.27	0.53
2012:Q3	-0.65	5.57	0.70
2012:Q4	-0.74	5.77	0.69
2013:Q1	-0.66	6.23	0.85
2013:Q2	-0.56	6.09	0.93
2013:Q3	-0.16	6.32	1.32
2013:Q4	0.06	6.10	1.47
2014:Q1	0.00	6.29	1.48
2014:Q2	0.11	6.90	1.73
2014:Q3	0.02	7.03	1.71
2014:Q4	0.21	7.15	1.92
2015:Q1	0.29	7.09	1.97
2015:Q2	0.79	7.18	2.39
2015:Q3	1.10	7.13	2.64
2015:Q4	1.33	7.06	2.81
2016:Q1	1.59	7.18	3.04
2016:Q2	1.78	6.82	3.11
2016:Q3	2.13	6.72	3.36
2016:Q4	2.34	6.84	3.52
2017:Q1	2.87	6.43	3.81
2017:Q2	2.99	5.94	3.78
2017:Q3	3.04	5.03	3.58
2017:Q4	3.28	5.04	3.76
2018:Q1	3.09	4.63	3.50
2018:Q2	3.14	4.42	3.49
2018:Q3	3.18	4.93	3.66
2018:Q4	2.95	4.74	3.44
2019:Q1	2.79	5.03	3.40

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

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Figure 24. Selected components of net debt financing for nonfinancial businesses

Billions of dollars, monthly rate

Period	Bank loans	Bonds	Commercial paper	Sum
2007	19.70	9.87	0.94	30.52
2008	15.22	9.68	0.64	25.54
2009	-27.53	17.79	-6.09	-15.83
2010	-8.48	15.05	2.04	8.62
2011	10.08	13.58	2.78	26.44
2012	13.71	27.24	1.17	42.12
2013	6.27	23.30	1.18	30.75
2014	15.38	23.99	3.13	42.50
2015	13.81	34.78	-0.25	48.33
2016	10.03	22.59	0.15	32.77
2017	6.77	22.90	2.16	31.82
2018	14.33	10.30	-0.85	23.78
2019:Q1	8.49	25.27	8.93	42.69

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

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Figure 25. Change in real imports and exports of goods and services

Percent, annual rate

Period	Imports	Exports
2015	3.36	-1.57
2016	3.07	0.78
2017	5.41	4.68
2018	3.35	2.30
2019:Q1	-1.90	5.42

Source: Bureau of Economic Analysis via Haver Analytics.

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Figure 26. U.S. trade and current account balances

Annual
Percent of nominal GDP

Period	Trade	Current account
2001	-3.5	-3.68
2002	-3.9	-4.12
2003	-4.4	-4.53
2004	-5.1	-5.17
2005	-5.5	-5.72
2006	-5.6	-5.83
2007	-5.0	-4.92
2008	-4.9	-4.63
2009	-2.7	-2.58
2010	-3.4	-2.88
2011	-3.7	-2.87
2012	-3.5	-2.64
2013	-2.9	-2.08
2014	-2.9	-2.08
2015	-2.9	-2.24
2016	-2.8	-2.29
2017	-3.0	-2.26
2018	-3.1	-2.40
2019:Q1	-2.9	-2.48

Note: GDP is gross domestic product. The dots refer to the current account and trade balances in the first quarter of 2019.

Source: Bureau of Economic Analysis via Haver Analytics.

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Figure 27. Change in real government expenditures on consumption and investment

Percent, annual rate

Period	Federal	State and local
2012	-2.58	-1.73
2013	-6.13	0.16
2014	-1.23	1.14
2015	1.23	2.79
2016	0.18	1.36
2017	1.27	-0.52
2018	2.73	0.84
2019:Q1	-0.05	4.61

Note: The federal value for 2019:Q1 is -0.05.

Source: Bureau of Economic Analysis via Haver Analytics.

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Figure 28. Federal receipts and expenditures

Annual
Percent of nominal GDP

Period	Expenditures	Receipts
1997	18.95	18.69
1998	18.50	19.28
1999	17.95	19.28
2000	17.68	20.02
2001	17.70	18.91
2002	18.56	17.11
2003	19.14	15.80
2004	19.07	15.63
2005	19.26	16.78
2006	19.47	17.65
2007	19.09	17.97
2008	20.23	17.12
2009	24.37	14.59
2010	23.30	14.57
2011	23.39	14.95
2012	21.96	15.26
2013	20.81	16.71
2014	20.23	17.43
2015	20.41	17.96
2016	20.77	17.62
2017	20.66	17.21
2018	20.31	16.46
2019	20.82	16.12

Note: Through 2018, receipts and expenditures are for fiscal years (October to September); gross domestic product (GDP) is for the four quarters ending in Q3. For 2019, receipts and expenditures are for the 12 months ending in May; GDP is the average of 2018:Q4 and 2019:Q1. Receipts and expenditures are on a unified-budget basis.

Source: Office of Management and Budget via Haver Analytics.

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Figure 29. Federal government debt held by the public

Quarterly
Percent of nominal GDP

Period	Percent of nominal GDP
1969:Q1	29.09
1969:Q2	27.40
1969:Q3	27.29
1969:Q4	27.54
1970:Q1	27.38
1970:Q2	26.39
1970:Q3	26.61
1970:Q4	27.37
1971:Q1	26.42
1971:Q2	26.08
1971:Q3	26.36
1971:Q4	27.13
1972:Q1	26.57
1972:Q2	25.35
1972:Q3	25.26
1972:Q4	25.44
1973:Q1	25.14
1973:Q2	24.02
1973:Q3	23.61
1973:Q4	23.37
1974:Q1	23.36
1974:Q2	22.38
1974:Q3	22.23
1974:Q4	22.32
1975:Q1	23.31
1975:Q2	23.83
1975:Q3	24.39
1975:Q4	25.13
1976:Q1	25.66
1976:Q2	25.72
1976:Q3	26.21
1976:Q4	26.47
1977:Q1	26.64
1977:Q2	25.72
1977:Q3	25.88
1977:Q4	26.27
1978:Q1	26.74
1978:Q2	25.37
1978:Q3	25.32
1978:Q4	25.07
1979:Q1	24.98
1979:Q2	24.18
1979:Q3	23.96
1979:Q4	24.12
1980:Q1	24.18
1980:Q2	24.34
1980:Q3	24.81
1980:Q4	24.60
1981:Q1	24.60
1981:Q2	24.23
1981:Q3	24.05
1981:Q4	24.99
1982:Q1	26.03
1982:Q2	25.86
1982:Q3	27.30
1982:Q4	28.84
1983:Q1	29.86
1983:Q2	30.29
1983:Q3	30.65
1983:Q4	30.75
1984:Q1	31.11
1984:Q2	31.09
1984:Q3	31.82
1984:Q4	32.88
1985:Q1	33.25
1985:Q2	33.82
1985:Q3	34.18
1985:Q4	35.77
1986:Q1	36.10
1986:Q2	36.93
1986:Q3	37.68
1986:Q4	38.77
1987:Q1	38.84
1987:Q2	38.82
1987:Q3	38.65
1987:Q4	38.93
1988:Q1	39.24
1988:Q2	38.74
1988:Q3	38.81
1988:Q4	38.98
1989:Q1	38.88
1989:Q2	38.35
1989:Q3	38.46
1989:Q4	39.17
1990:Q1	39.33
1990:Q2	39.38
1990:Q3	40.07
1990:Q4	41.60
1991:Q1	42.23
1991:Q2	42.30
1991:Q3	43.30
1991:Q4	44.32
1992:Q1	44.94
1992:Q2	45.18
1992:Q3	45.67
1992:Q4	46.11
1993:Q1	46.66
1993:Q2	47.02
1993:Q3	47.18
1993:Q4	47.57
1994:Q1	47.61
1994:Q2	46.85
1994:Q3	46.82
1994:Q4	46.84
1995:Q1	47.30
1995:Q2	47.27
1995:Q3	46.90
1995:Q4	46.79
1996:Q1	47.24
1996:Q2	45.98
1996:Q3	45.91
1996:Q4	45.78
1997:Q1	45.80
1997:Q2	44.14
1997:Q3	43.53
1997:Q4	43.40
1998:Q1	43.20
1998:Q2	41.80
1998:Q3	40.79
1998:Q4	40.37
1999:Q1	39.92
1999:Q2	38.34
1999:Q3	37.53
1999:Q4	37.18
2000:Q1	36.52
2000:Q2	33.80
2000:Q3	33.04
2000:Q4	32.43
2001:Q1	32.55
2001:Q2	30.68
2001:Q3	31.33
2001:Q4	31.70
2002:Q1	31.79
2002:Q2	31.68
2002:Q3	32.21
2002:Q4	32.85
2003:Q1	33.09
2003:Q2	33.65
2003:Q3	33.83
2003:Q4	34.26
2004:Q1	34.96
2004:Q2	34.75
2004:Q3	34.89
2004:Q4	35.09
2005:Q1	35.73
2005:Q2	34.98
2005:Q3	34.91
2005:Q4	35.26
2006:Q1	35.70
2006:Q2	34.78
2006:Q3	34.80
2006:Q4	34.80
2007:Q1	35.45
2007:Q2	34.25
2007:Q3	34.61
2007:Q4	34.88
2008:Q1	36.32
2008:Q2	35.61
2008:Q3	39.09
2008:Q4	43.68
2009:Q1	47.42
2009:Q2	49.91
2009:Q3	52.29
2009:Q4	53.34
2010:Q1	56.24
2010:Q2	57.78
2010:Q3	59.78
2010:Q4	61.56
2011:Q1	63.08
2011:Q2	62.82
2011:Q3	64.94
2011:Q4	66.16
2012:Q1	67.72
2012:Q2	68.40
2012:Q3	69.37
2012:Q4	70.86
2013:Q1	71.99
2013:Q2	71.59
2013:Q3	71.10
2013:Q4	72.30
2014:Q1	73.74
2014:Q2	72.11
2014:Q3	72.11
2014:Q4	72.97
2015:Q1	72.81
2015:Q2	71.72
2015:Q3	71.54
2015:Q4	74.46
2016:Q1	75.60
2016:Q2	74.70
2016:Q3	75.35
2016:Q4	76.01
2017:Q1	74.93
2017:Q2	74.15
2017:Q3	74.87
2017:Q4	74.65
2018:Q1	76.91
2018:Q2	75.72
2018:Q3	76.24
2018:Q4	77.11
2019:Q1	76.89

Note: The data for gross domestic product (GDP) are at an annual rate. Federal debt held by the public equals federal debt less Treasury securities held in federal employee defined benefit retirement accounts, evaluated at the end of the quarter.

Source: For GDP, Bureau of Economic Analysis via Haver Analytics; for federal debt, Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

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Figure 30. Market-implied federal funds rate path

Quarterly
Percent

Period	July 1, 2019	Dec. 28, 2018
2019:Q1	ND	2.41
2019:Q2	2.42	2.42
2019:Q3	1.92	2.41
2019:Q4	1.66	2.38
2020:Q1	1.53	2.31
2020:Q2	1.45	2.24
2020:Q3	1.38	2.19
2020:Q4	1.33	2.16
2021:Q1	1.31	2.16
2021:Q2	1.32	2.17
2021:Q3	1.33	2.19
2021:Q4	1.36	2.21
2022:Q1	1.40	2.23
2022:Q2	1.44	2.26
2022:Q3	1.49	2.28
2022:Q4	1.53	2.30
2023:Q1	1.57	ND

Note: The federal funds rate path is implied by quotes on overnight index swaps–-a derivative contract tied to the effective federal funds rate. The implied path as of July 1, 2019, is compared with that as of December 28, 2018. The path is estimated with a spline approach, assuming a term premium of 0 basis points. The July 1, 2019, path extends through March 2023 and the December 28, 2018, path through December 2022.

Source: Bloomberg; Federal Reserve Board staff estimates.

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Figure 31. Yields on nominal Treasury securities

Daily
Percent

Date	2-year	5-year	10-year
5 January 2004	1.95	3.39	4.41
6 January 2004	1.84	3.26	4.29
7 January 2004	1.84	3.25	4.27
8 January 2004	1.85	3.24	4.27
9 January 2004	1.68	3.05	4.11
12 January 2004	1.68	3.04	4.11
13 January 2004	1.63	2.98	4.05
14 January 2004	1.65	2.96	4.01
15 January 2004	1.67	2.97	3.99
16 January 2004	1.70	3.03	4.04
19 January 2004	ND	ND	ND
20 January 2004	1.69	3.05	4.08
21 January 2004	1.69	3.02	4.05
22 January 2004	1.66	2.96	3.99
23 January 2004	1.71	3.06	4.09
26 January 2004	1.75	3.13	4.16
27 January 2004	1.70	3.07	4.11
28 January 2004	1.87	3.22	4.22
29 January 2004	1.88	3.22	4.22
30 January 2004	1.84	3.17	4.16
2 February 2004	1.83	3.18	4.18
3 February 2004	1.78	3.12	4.13
4 February 2004	1.80	3.15	4.15
5 February 2004	1.85	3.21	4.20
6 February 2004	1.77	3.12	4.12
9 February 2004	1.76	3.08	4.09
10 February 2004	1.82	3.13	4.13
11 February 2004	1.73	3.03	4.05
12 February 2004	1.75	3.07	4.10
13 February 2004	1.70	3.01	4.05
16 February 2004	ND	ND	ND
17 February 2004	1.70	3.02	4.05
18 February 2004	1.72	3.03	4.05
19 February 2004	1.70	3.02	4.05
20 February 2004	1.75	3.08	4.10
23 February 2004	1.69	3.03	4.05
24 February 2004	1.69	3.01	4.04
25 February 2004	1.67	2.98	4.02
26 February 2004	1.69	3.01	4.05
27 February 2004	1.66	3.01	3.99
1 March 2004	1.67	2.98	4.00
2 March 2004	1.74	3.04	4.05
3 March 2004	1.74	3.06	4.07
4 March 2004	1.73	3.02	4.04
5 March 2004	1.57	2.81	3.85
8 March 2004	1.52	2.74	3.78
9 March 2004	1.51	2.68	3.73
10 March 2004	1.54	2.71	3.74
11 March 2004	1.52	2.72	3.74
12 March 2004	1.54	2.73	3.78
15 March 2004	1.56	2.74	3.78
16 March 2004	1.51	2.65	3.70
17 March 2004	1.53	2.66	3.71
18 March 2004	1.55	2.72	3.76
19 March 2004	1.56	2.75	3.80
22 March 2004	1.52	2.69	3.74
23 March 2004	1.52	2.69	3.73
24 March 2004	1.50	2.68	3.73
25 March 2004	1.51	2.70	3.75
26 March 2004	1.59	2.81	3.85
29 March 2004	1.63	2.86	3.91
30 March 2004	1.63	2.86	3.91
31 March 2004	1.60	2.80	3.86
1 April 2004	1.65	2.87	3.91
2 April 2004	1.86	3.15	4.15
5 April 2004	1.91	3.24	4.24
6 April 2004	1.86	3.19	4.19
7 April 2004	1.87	3.19	4.19
8 April 2004	1.88	3.22	4.21
9 April 2004	ND	ND	ND
12 April 2004	1.91	3.26	4.25
13 April 2004	2.01	3.37	4.35
14 April 2004	2.13	3.44	4.40
15 April 2004	2.10	3.45	4.42
16 April 2004	2.03	3.39	4.37
19 April 2004	2.07	3.42	4.39
20 April 2004	2.11	3.45	4.43
21 April 2004	2.22	3.52	4.45
22 April 2004	2.15	3.46	4.40
23 April 2004	2.29	3.58	4.48
26 April 2004	2.28	3.57	4.46
27 April 2004	2.21	3.52	4.43
28 April 2004	2.30	3.60	4.50
29 April 2004	2.34	3.66	4.55
30 April 2004	2.31	3.63	4.53
3 May 2004	2.34	3.63	4.53
4 May 2004	2.32	3.66	4.56
5 May 2004	2.34	3.71	4.61
6 May 2004	2.39	3.72	4.63
7 May 2004	2.64	3.96	4.79
10 May 2004	2.61	3.95	4.81
11 May 2004	2.61	3.94	4.79
12 May 2004	2.62	3.96	4.83
13 May 2004	2.67	4.01	4.85
14 May 2004	2.59	3.92	4.79
17 May 2004	2.51	3.83	4.70
18 May 2004	2.58	3.87	4.74
19 May 2004	2.61	3.93	4.79
20 May 2004	2.55	3.86	4.72
21 May 2004	2.60	3.91	4.76
24 May 2004	2.59	3.90	4.75
25 May 2004	2.58	3.89	4.73
26 May 2004	2.52	3.81	4.67
27 May 2004	2.46	3.74	4.60
28 May 2004	2.54	3.81	4.66
31 May 2004	ND	ND	ND
1 June 2004	2.60	3.86	4.71
2 June 2004	2.65	3.91	4.74
3 June 2004	2.63	3.89	4.71
4 June 2004	2.70	3.97	4.78
7 June 2004	2.67	3.95	4.78
8 June 2004	2.73	3.96	4.78
9 June 2004	2.79	4.01	4.82
10 June 2004	2.81	4.00	4.81
11 June 2004	ND	ND	ND
14 June 2004	2.97	4.10	4.89
15 June 2004	2.77	3.90	4.69
16 June 2004	2.84	3.96	4.74
17 June 2004	2.81	3.93	4.71
18 June 2004	2.81	3.94	4.72
21 June 2004	2.80	3.91	4.70
22 June 2004	2.80	3.92	4.72
23 June 2004	2.78	3.90	4.71
24 June 2004	2.74	3.85	4.66
25 June 2004	2.74	3.85	4.66
28 June 2004	2.86	3.97	4.76
29 June 2004	2.83	3.92	4.70
30 June 2004	2.70	3.81	4.62
1 July 2004	2.64	3.74	4.57
2 July 2004	2.54	3.62	4.48
5 July 2004	ND	ND	ND
6 July 2004	2.56	3.65	4.49
7 July 2004	2.56	3.67	4.50
8 July 2004	2.55	3.65	4.49
9 July 2004	2.55	3.64	4.49
12 July 2004	2.53	3.62	4.46
13 July 2004	2.58	3.66	4.50
14 July 2004	2.62	3.68	4.50
15 July 2004	2.64	3.69	4.50
16 July 2004	2.54	3.56	4.38
19 July 2004	2.56	3.57	4.38
20 July 2004	2.67	3.68	4.47
21 July 2004	2.71	3.72	4.50
22 July 2004	2.69	3.71	4.48
23 July 2004	2.69	3.69	4.45
26 July 2004	2.75	3.73	4.49
27 July 2004	2.82	3.85	4.62
28 July 2004	2.78	3.82	4.61
29 July 2004	2.75	3.80	4.60
30 July 2004	2.68	3.71	4.50
2 August 2004	2.66	3.68	4.48
3 August 2004	2.66	3.67	4.45
4 August 2004	2.66	3.66	4.45
5 August 2004	2.64	3.64	4.43
6 August 2004	2.40	3.40	4.24
9 August 2004	2.45	3.45	4.28
10 August 2004	2.55	3.52	4.32
11 August 2004	2.54	3.51	4.30
12 August 2004	2.52	3.47	4.27
13 August 2004	2.47	3.42	4.22
16 August 2004	2.51	3.45	4.26
17 August 2004	2.44	3.39	4.21
18 August 2004	2.44	3.41	4.23
19 August 2004	2.43	3.39	4.22
20 August 2004	2.46	3.42	4.24
23 August 2004	2.50	3.46	4.28
24 August 2004	2.50	3.46	4.28
25 August 2004	2.51	3.46	4.26
26 August 2004	2.48	3.42	4.22
27 August 2004	2.48	3.43	4.23
30 August 2004	2.47	3.40	4.19
31 August 2004	2.41	3.33	4.13
1 September 2004	2.41	3.32	4.13
2 September 2004	2.46	3.40	4.20
3 September 2004	2.61	3.52	4.30
6 September 2004	ND	ND	ND
7 September 2004	2.58	3.48	4.26
8 September 2004	2.50	3.40	4.18
9 September 2004	2.50	3.41	4.22
10 September 2004	2.50	3.40	4.19
13 September 2004	2.50	3.38	4.16
14 September 2004	2.47	3.35	4.15
15 September 2004	2.51	3.39	4.18
16 September 2004	2.44	3.29	4.08
17 September 2004	2.53	3.35	4.14
20 September 2004	2.46	3.28	4.07
21 September 2004	2.49	3.28	4.05
22 September 2004	2.50	3.26	4.00
23 September 2004	2.57	3.30	4.02
24 September 2004	2.62	3.33	4.04
27 September 2004	2.59	3.29	4.01
28 September 2004	2.55	3.28	4.02
29 September 2004	2.61	3.37	4.10
30 September 2004	2.63	3.38	4.14
1 October 2004	2.63	3.44	4.21
4 October 2004	2.65	3.44	4.19
5 October 2004	2.65	3.44	4.18
6 October 2004	2.70	3.51	4.23
7 October 2004	2.72	3.53	4.26
8 October 2004	2.61	3.39	4.15
11 October 2004	ND	ND	ND
12 October 2004	2.56	3.35	4.12
13 October 2004	2.53	3.32	4.09
14 October 2004	2.48	3.26	4.03
15 October 2004	2.53	3.31	4.07
18 October 2004	2.55	3.31	4.07
19 October 2004	2.57	3.32	4.07
20 October 2004	2.53	3.26	4.01
21 October 2004	2.57	3.29	4.01
22 October 2004	2.55	3.26	4.00
25 October 2004	2.54	3.25	3.99
26 October 2004	2.54	3.26	4.01
27 October 2004	2.63	3.37	4.11
28 October 2004	2.59	3.34	4.09
29 October 2004	2.56	3.30	4.05
1 November 2004	2.61	3.36	4.11
2 November 2004	2.60	3.34	4.10
3 November 2004	2.60	3.35	4.09
4 November 2004	2.63	3.37	4.10
5 November 2004	2.80	3.51	4.21
8 November 2004	2.80	3.51	4.22
9 November 2004	2.80	3.53	4.22
10 November 2004	2.82	3.56	4.25
11 November 2004	ND	ND	ND
12 November 2004	2.86	3.53	4.20
15 November 2004	2.89	3.53	4.20
16 November 2004	2.91	3.56	4.21
17 November 2004	2.85	3.47	4.14
18 November 2004	2.86	3.48	4.12
19 November 2004	2.95	3.57	4.20
22 November 2004	2.95	3.56	4.18
23 November 2004	2.98	3.58	4.19
24 November 2004	3.01	3.61	4.20
25 November 2004	ND	ND	ND
26 November 2004	3.03	3.64	4.24
29 November 2004	3.07	3.72	4.34
30 November 2004	3.02	3.72	4.36
1 December 2004	3.01	3.72	4.38
2 December 2004	3.04	3.75	4.40
3 December 2004	2.94	3.61	4.27
6 December 2004	2.93	3.59	4.24
7 December 2004	2.95	3.60	4.23
8 December 2004	2.91	3.53	4.14
9 December 2004	2.93	3.54	4.19
10 December 2004	2.95	3.52	4.16
13 December 2004	2.98	3.54	4.16
14 December 2004	2.99	3.53	4.14
15 December 2004	2.97	3.48	4.09
16 December 2004	3.01	3.58	4.19
17 December 2004	3.03	3.59	4.21
20 December 2004	3.06	3.59	4.21
21 December 2004	3.05	3.57	4.18
22 December 2004	3.04	3.57	4.21
23 December 2004	3.02	3.58	4.23
24 December 2004	ND	ND	ND
27 December 2004	3.07	3.65	4.30
28 December 2004	3.08	3.66	4.31
29 December 2004	3.12	3.69	4.33
30 December 2004	3.10	3.64	4.27
31 December 2004	3.08	3.63	4.24
3 January 2005	3.10	3.64	4.23
4 January 2005	3.20	3.72	4.29
5 January 2005	3.22	3.73	4.29
6 January 2005	3.18	3.71	4.29
7 January 2005	3.20	3.73	4.29
10 January 2005	3.23	3.75	4.29
11 January 2005	3.24	3.73	4.26
12 January 2005	3.22	3.72	4.25
13 January 2005	3.21	3.68	4.20
14 January 2005	3.24	3.71	4.23
17 January 2005	ND	ND	ND
18 January 2005	3.26	3.72	4.21
19 January 2005	3.26	3.73	4.20
20 January 2005	3.21	3.68	4.17
21 January 2005	3.16	3.65	4.16
24 January 2005	3.20	3.65	4.14
25 January 2005	3.23	3.71	4.20
26 January 2005	3.27	3.73	4.21
27 January 2005	3.28	3.75	4.22
28 January 2005	3.25	3.69	4.16
31 January 2005	3.29	3.71	4.14
1 February 2005	3.29	3.71	4.15
2 February 2005	3.32	3.73	4.15
3 February 2005	3.34	3.76	4.18
4 February 2005	3.29	3.68	4.09
7 February 2005	3.31	3.67	4.07
8 February 2005	3.33	3.68	4.05
9 February 2005	3.24	3.58	4.00
10 February 2005	3.29	3.65	4.07
11 February 2005	3.34	3.70	4.10
14 February 2005	3.38	3.70	4.08
15 February 2005	3.37	3.71	4.10
16 February 2005	3.41	3.78	4.16
17 February 2005	3.38	3.78	4.19
18 February 2005	3.45	3.86	4.27
21 February 2005	ND	ND	ND
22 February 2005	3.46	3.88	4.29
23 February 2005	3.46	3.87	4.27
24 February 2005	3.52	3.91	4.29
25 February 2005	3.54	3.91	4.27
28 February 2005	3.59	4.00	4.36
1 March 2005	3.59	4.02	4.38
2 March 2005	3.57	4.00	4.38
3 March 2005	3.59	4.02	4.39
4 March 2005	3.57	3.97	4.32
7 March 2005	3.61	3.99	4.31
8 March 2005	3.62	4.05	4.38
9 March 2005	3.66	4.16	4.52
10 March 2005	3.68	4.13	4.48
11 March 2005	3.73	4.22	4.56
14 March 2005	3.75	4.20	4.52
15 March 2005	3.75	4.22	4.54
16 March 2005	3.72	4.18	4.52
17 March 2005	3.70	4.14	4.47
18 March 2005	3.72	4.18	4.51
21 March 2005	3.72	4.18	4.53
22 March 2005	3.86	4.31	4.63
23 March 2005	3.84	4.30	4.61
24 March 2005	3.88	4.30	4.60
25 March 2005	ND	ND	ND
28 March 2005	3.90	4.33	4.64
29 March 2005	3.87	4.30	4.60
30 March 2005	3.86	4.26	4.56
31 March 2005	3.80	4.18	4.50
1 April 2005	3.75	4.13	4.46
4 April 2005	3.74	4.13	4.47
5 April 2005	3.75	4.15	4.48
6 April 2005	3.70	4.09	4.44
7 April 2005	3.72	4.13	4.49
8 April 2005	3.77	4.17	4.50
11 April 2005	3.75	4.13	4.45
12 April 2005	3.71	4.05	4.38
13 April 2005	3.66	4.03	4.38
14 April 2005	3.60	3.99	4.37
15 April 2005	3.54	3.90	4.27
18 April 2005	3.55	3.90	4.27
19 April 2005	3.50	3.85	4.21
20 April 2005	3.52	3.86	4.22
21 April 2005	3.65	3.97	4.32
22 April 2005	3.62	3.92	4.26
25 April 2005	3.64	3.94	4.26
26 April 2005	3.67	3.96	4.28
27 April 2005	3.64	3.92	4.25
28 April 2005	3.59	3.85	4.19
29 April 2005	3.66	3.90	4.21
2 May 2005	3.64	3.88	4.21
3 May 2005	3.68	3.90	4.21
4 May 2005	3.63	3.87	4.20
5 May 2005	3.58	3.82	4.19
6 May 2005	3.73	3.95	4.28
9 May 2005	3.76	3.99	4.29
10 May 2005	3.69	3.93	4.23
11 May 2005	3.68	3.91	4.21
12 May 2005	3.66	3.87	4.18
13 May 2005	3.61	3.83	4.12
16 May 2005	3.61	3.83	4.13
17 May 2005	3.61	3.82	4.12
18 May 2005	3.56	3.77	4.07
19 May 2005	3.64	3.84	4.11
20 May 2005	3.69	3.88	4.13
23 May 2005	3.65	3.83	4.07
24 May 2005	3.61	3.78	4.04
25 May 2005	3.61	3.81	4.08
26 May 2005	3.64	3.82	4.08
27 May 2005	3.64	3.82	4.08
30 May 2005	ND	ND	ND
31 May 2005	3.60	3.76	4.00
1 June 2005	3.50	3.63	3.91
2 June 2005	3.52	3.65	3.89
3 June 2005	3.57	3.73	3.98
6 June 2005	3.59	3.73	3.96
7 June 2005	3.57	3.70	3.92
8 June 2005	3.60	3.73	3.95
9 June 2005	3.64	3.76	3.98
10 June 2005	3.71	3.84	4.05
13 June 2005	3.71	3.87	4.09
14 June 2005	3.71	3.89	4.13
15 June 2005	3.72	3.90	4.12
16 June 2005	3.70	3.87	4.09
17 June 2005	3.72	3.88	4.09
20 June 2005	3.72	3.88	4.11
21 June 2005	3.71	3.84	4.06
22 June 2005	3.62	3.72	3.95
23 June 2005	3.63	3.74	3.96
24 June 2005	3.59	3.69	3.92
27 June 2005	3.60	3.69	3.90
28 June 2005	3.65	3.76	3.97
29 June 2005	3.65	3.77	3.99
30 June 2005	3.66	3.72	3.94
1 July 2005	3.76	3.84	4.06
4 July 2005	ND	ND	ND
5 July 2005	3.79	3.90	4.11
6 July 2005	3.77	3.86	4.08
7 July 2005	3.71	3.83	4.05
8 July 2005	3.78	3.89	4.11
11 July 2005	3.81	3.91	4.11
12 July 2005	3.82	3.94	4.15
13 July 2005	3.84	3.96	4.17
14 July 2005	3.86	3.98	4.19
15 July 2005	3.86	3.98	4.18
18 July 2005	3.89	4.01	4.22
19 July 2005	3.88	3.99	4.20
20 July 2005	3.90	3.99	4.17
21 July 2005	3.96	4.09	4.28
22 July 2005	3.92	4.04	4.23
25 July 2005	3.95	4.06	4.25
26 July 2005	3.95	4.06	4.24
27 July 2005	3.99	4.09	4.27
28 July 2005	3.96	4.04	4.20
29 July 2005	4.02	4.12	4.28
1 August 2005	4.04	4.16	4.32
2 August 2005	4.06	4.17	4.34
3 August 2005	4.02	4.13	4.30
4 August 2005	4.04	4.15	4.32
5 August 2005	4.11	4.24	4.40
8 August 2005	4.16	4.28	4.42
9 August 2005	4.13	4.25	4.41
10 August 2005	4.13	4.24	4.40
11 August 2005	4.10	4.18	4.32
12 August 2005	4.05	4.11	4.24
15 August 2005	4.08	4.15	4.27
16 August 2005	4.03	4.10	4.23
17 August 2005	4.07	4.15	4.28
18 August 2005	4.01	4.08	4.21
19 August 2005	4.03	4.08	4.21
22 August 2005	4.03	4.08	4.22
23 August 2005	4.01	4.07	4.20
24 August 2005	3.99	4.06	4.19
25 August 2005	4.00	4.06	4.18
26 August 2005	4.06	4.09	4.20
29 August 2005	4.06	4.08	4.20
30 August 2005	3.97	4.03	4.16
31 August 2005	3.84	3.87	4.02
1 September 2005	3.72	3.85	4.02
2 September 2005	3.75	3.85	4.03
5 September 2005	ND	ND	ND
6 September 2005	3.80	3.89	4.09
7 September 2005	3.87	3.93	4.15
8 September 2005	3.87	3.94	4.15
9 September 2005	3.88	3.94	4.14
12 September 2005	3.92	3.98	4.18
13 September 2005	3.88	3.93	4.14
14 September 2005	3.90	3.96	4.17
15 September 2005	3.90	3.99	4.22
16 September 2005	3.97	4.05	4.26
19 September 2005	3.93	4.02	4.25
20 September 2005	4.00	4.06	4.26
21 September 2005	3.96	4.01	4.19
22 September 2005	3.95	3.99	4.19
23 September 2005	4.02	4.07	4.25
26 September 2005	4.07	4.11	4.30
27 September 2005	4.08	4.13	4.30
28 September 2005	4.09	4.11	4.26
29 September 2005	4.13	4.14	4.29
30 September 2005	4.18	4.18	4.34
3 October 2005	4.21	4.25	4.39
4 October 2005	4.22	4.24	4.38
5 October 2005	4.21	4.23	4.36
6 October 2005	4.20	4.23	4.37
7 October 2005	4.18	4.23	4.35
10 October 2005	ND	ND	ND
11 October 2005	4.22	4.27	4.39
12 October 2005	4.24	4.32	4.45
13 October 2005	4.24	4.32	4.48
14 October 2005	4.27	4.34	4.48
17 October 2005	4.29	4.36	4.50
18 October 2005	4.27	4.34	4.49
19 October 2005	4.25	4.32	4.47
20 October 2005	4.27	4.33	4.46
21 October 2005	4.22	4.26	4.39
24 October 2005	4.25	4.32	4.45
25 October 2005	4.34	4.41	4.54
26 October 2005	4.38	4.46	4.60
27 October 2005	4.36	4.43	4.57
28 October 2005	4.40	4.46	4.58
31 October 2005	4.40	4.45	4.57
1 November 2005	4.42	4.47	4.58
2 November 2005	4.43	4.50	4.61
3 November 2005	4.47	4.55	4.65
4 November 2005	4.47	4.56	4.66
7 November 2005	4.47	4.55	4.65
8 November 2005	4.43	4.49	4.57
9 November 2005	4.49	4.55	4.64
10 November 2005	4.44	4.49	4.55
11 November 2005	ND	ND	ND
14 November 2005	4.50	4.54	4.61
15 November 2005	4.47	4.51	4.56
16 November 2005	4.42	4.43	4.49
17 November 2005	4.37	4.39	4.46
18 November 2005	4.40	4.43	4.50
21 November 2005	4.39	4.39	4.46
22 November 2005	4.32	4.34	4.43
23 November 2005	4.36	4.38	4.47
24 November 2005	ND	ND	ND
25 November 2005	4.33	4.34	4.43
28 November 2005	4.33	4.32	4.41
29 November 2005	4.40	4.40	4.48
30 November 2005	4.42	4.42	4.49
1 December 2005	4.45	4.45	4.52
2 December 2005	4.43	4.45	4.52
5 December 2005	4.47	4.50	4.57
6 December 2005	4.42	4.42	4.49
7 December 2005	4.42	4.43	4.52
8 December 2005	4.37	4.36	4.47
9 December 2005	4.43	4.44	4.54
12 December 2005	4.45	4.46	4.56
13 December 2005	4.43	4.44	4.54
14 December 2005	4.37	4.36	4.45
15 December 2005	4.37	4.38	4.47
16 December 2005	4.37	4.36	4.45
19 December 2005	4.38	4.37	4.45
20 December 2005	4.42	4.40	4.47
21 December 2005	4.43	4.42	4.49
22 December 2005	4.40	4.38	4.44
23 December 2005	4.37	4.32	4.38
26 December 2005	ND	ND	ND
27 December 2005	4.35	4.30	4.34
28 December 2005	4.37	4.32	4.38
29 December 2005	4.38	4.33	4.37
30 December 2005	4.41	4.35	4.39
2 January 2006	ND	ND	ND
3 January 2006	4.34	4.30	4.37
4 January 2006	4.31	4.28	4.36
5 January 2006	4.32	4.29	4.36
6 January 2006	4.36	4.32	4.38
9 January 2006	4.36	4.32	4.38
10 January 2006	4.41	4.36	4.43
11 January 2006	4.44	4.39	4.46
12 January 2006	4.39	4.35	4.42
13 January 2006	4.34	4.28	4.36
16 January 2006	ND	ND	ND
17 January 2006	4.33	4.27	4.34
18 January 2006	4.33	4.28	4.34
19 January 2006	4.37	4.31	4.38
20 January 2006	4.37	4.31	4.37
23 January 2006	4.35	4.30	4.36
24 January 2006	4.37	4.32	4.40
25 January 2006	4.46	4.41	4.49
26 January 2006	4.49	4.44	4.53
27 January 2006	4.51	4.45	4.52
30 January 2006	4.52	4.46	4.54
31 January 2006	4.54	4.47	4.53
1 February 2006	4.59	4.51	4.57
2 February 2006	4.59	4.51	4.57
3 February 2006	4.59	4.50	4.54
6 February 2006	4.62	4.51	4.55
7 February 2006	4.61	4.52	4.57
8 February 2006	4.64	4.55	4.56
9 February 2006	4.66	4.55	4.54
10 February 2006	4.69	4.59	4.59
13 February 2006	4.68	4.58	4.58
14 February 2006	4.69	4.61	4.62
15 February 2006	4.71	4.60	4.61
16 February 2006	4.69	4.59	4.59
17 February 2006	4.66	4.55	4.54
20 February 2006	ND	ND	ND
21 February 2006	4.71	4.59	4.57
22 February 2006	4.68	4.57	4.53
23 February 2006	4.72	4.63	4.56
24 February 2006	4.74	4.64	4.58
27 February 2006	4.74	4.66	4.59
28 February 2006	4.69	4.61	4.55
1 March 2006	4.71	4.63	4.59
2 March 2006	4.72	4.68	4.64
3 March 2006	4.76	4.71	4.68
6 March 2006	4.77	4.76	4.74
7 March 2006	4.77	4.76	4.74
8 March 2006	4.72	4.75	4.73
9 March 2006	4.72	4.75	4.74
10 March 2006	4.74	4.77	4.76
13 March 2006	4.74	4.78	4.77
14 March 2006	4.66	4.68	4.71
15 March 2006	4.69	4.69	4.73
16 March 2006	4.62	4.60	4.65
17 March 2006	4.65	4.62	4.68
20 March 2006	4.65	4.61	4.66
21 March 2006	4.72	4.68	4.71
22 March 2006	4.74	4.69	4.70
23 March 2006	4.77	4.73	4.73
24 March 2006	4.72	4.66	4.67
27 March 2006	4.72	4.69	4.70
28 March 2006	4.81	4.79	4.79
29 March 2006	4.82	4.79	4.81
30 March 2006	4.84	4.83	4.86
31 March 2006	4.82	4.82	4.86
3 April 2006	4.86	4.85	4.88
4 April 2006	4.84	4.82	4.87
5 April 2006	4.81	4.79	4.84
6 April 2006	4.84	4.84	4.90
7 April 2006	4.89	4.89	4.97
10 April 2006	4.89	4.89	4.97
11 April 2006	4.88	4.86	4.93
12 April 2006	4.91	4.91	4.98
13 April 2006	4.96	4.97	5.05
14 April 2006	ND	ND	ND
17 April 2006	4.91	4.93	5.01
18 April 2006	4.84	4.87	4.99
19 April 2006	4.86	4.91	5.04
20 April 2006	4.89	4.92	5.04
21 April 2006	4.90	4.92	5.01
24 April 2006	4.89	4.90	4.99
25 April 2006	4.95	4.98	5.07
26 April 2006	4.99	5.02	5.12
27 April 2006	4.91	4.95	5.09
28 April 2006	4.87	4.92	5.07
1 May 2006	4.94	4.99	5.14
2 May 2006	4.92	4.98	5.12
3 May 2006	4.94	5.01	5.15
4 May 2006	4.97	5.03	5.16
5 May 2006	4.94	4.99	5.12
8 May 2006	4.97	5.01	5.12
9 May 2006	4.97	5.01	5.13
10 May 2006	5.01	5.03	5.13
11 May 2006	4.99	5.04	5.14
12 May 2006	5.01	5.08	5.19
15 May 2006	4.99	5.04	5.15
16 May 2006	4.96	4.99	5.10
17 May 2006	4.97	5.03	5.16
18 May 2006	4.94	4.96	5.08
19 May 2006	4.96	4.96	5.05
22 May 2006	4.94	4.94	5.04
23 May 2006	4.97	4.98	5.07
24 May 2006	4.94	4.93	5.03
25 May 2006	4.98	4.97	5.07
26 May 2006	4.96	4.95	5.06
29 May 2006	ND	ND	ND
30 May 2006	4.99	4.99	5.09
31 May 2006	5.04	5.04	5.12
1 June 2006	5.04	5.03	5.11
2 June 2006	4.92	4.90	5.00
5 June 2006	4.99	4.95	5.02
6 June 2006	4.99	4.95	5.01
7 June 2006	5.02	4.97	5.02
8 June 2006	5.01	4.95	5.00
9 June 2006	5.01	4.95	4.98
12 June 2006	5.02	4.95	4.99
13 June 2006	5.02	4.93	4.97
14 June 2006	5.11	5.03	5.05
15 June 2006	5.14	5.08	5.10
16 June 2006	5.16	5.10	5.13
19 June 2006	5.19	5.12	5.14
20 June 2006	5.19	5.13	5.15
21 June 2006	5.20	5.14	5.16
22 June 2006	5.23	5.18	5.20
23 June 2006	5.27	5.21	5.23
26 June 2006	5.27	5.22	5.25
27 June 2006	5.24	5.19	5.21
28 June 2006	5.29	5.23	5.25
29 June 2006	5.21	5.17	5.22
30 June 2006	5.16	5.10	5.15
3 July 2006	5.17	5.11	5.15
4 July 2006	ND	ND	ND
5 July 2006	5.24	5.19	5.23
6 July 2006	5.22	5.15	5.19
7 July 2006	5.17	5.10	5.14
10 July 2006	5.17	5.10	5.13
11 July 2006	5.17	5.07	5.10
12 July 2006	5.17	5.08	5.10
13 July 2006	5.12	5.04	5.08
14 July 2006	5.08	5.02	5.07
17 July 2006	5.12	5.04	5.07
18 July 2006	5.19	5.10	5.13
19 July 2006	5.12	5.02	5.06
20 July 2006	5.06	4.98	5.03
21 July 2006	5.08	4.99	5.05
24 July 2006	5.10	4.99	5.05
25 July 2006	5.11	5.02	5.07
26 July 2006	5.06	4.99	5.04
27 July 2006	5.07	4.98	5.07
28 July 2006	4.98	4.92	5.00
31 July 2006	4.97	4.91	4.99
1 August 2006	4.97	4.90	4.99
2 August 2006	4.97	4.88	4.96
3 August 2006	4.98	4.90	4.96
4 August 2006	4.91	4.84	4.91
7 August 2006	4.96	4.86	4.93
8 August 2006	4.91	4.85	4.93
9 August 2006	4.91	4.86	4.92
10 August 2006	4.93	4.86	4.93
11 August 2006	4.96	4.91	4.97
14 August 2006	5.01	4.95	5.00
15 August 2006	4.94	4.88	4.93
16 August 2006	4.87	4.81	4.87
17 August 2006	4.89	4.82	4.87
18 August 2006	4.87	4.78	4.84
21 August 2006	4.85	4.77	4.82
22 August 2006	4.87	4.77	4.82
23 August 2006	4.87	4.77	4.82
24 August 2006	4.88	4.78	4.81
25 August 2006	4.86	4.76	4.79
28 August 2006	4.88	4.77	4.80
29 August 2006	4.87	4.77	4.79
30 August 2006	4.83	4.72	4.76
31 August 2006	4.79	4.70	4.74
1 September 2006	4.77	4.68	4.73
4 September 2006	ND	ND	ND
5 September 2006	4.80	4.73	4.78
6 September 2006	4.82	4.75	4.80
7 September 2006	4.82	4.74	4.80
8 September 2006	4.80	4.71	4.78
11 September 2006	4.83	4.74	4.80
12 September 2006	4.82	4.71	4.78
13 September 2006	4.80	4.70	4.77
14 September 2006	4.83	4.74	4.79
15 September 2006	4.87	4.76	4.80
18 September 2006	4.88	4.77	4.81
19 September 2006	4.79	4.69	4.74
20 September 2006	4.81	4.70	4.73
21 September 2006	4.71	4.60	4.65
22 September 2006	4.67	4.55	4.60
25 September 2006	4.63	4.51	4.56
26 September 2006	4.68	4.55	4.59
27 September 2006	4.66	4.56	4.60
28 September 2006	4.68	4.57	4.63
29 September 2006	4.71	4.59	4.64
2 October 2006	4.66	4.56	4.62
3 October 2006	4.67	4.56	4.62
4 October 2006	4.60	4.50	4.57
5 October 2006	4.65	4.55	4.61
6 October 2006	4.74	4.64	4.70
9 October 2006	ND	ND	ND
10 October 2006	4.82	4.71	4.75
11 October 2006	4.85	4.75	4.78
12 October 2006	4.85	4.74	4.79
13 October 2006	4.87	4.77	4.81
16 October 2006	4.85	4.76	4.79
17 October 2006	4.83	4.73	4.78
18 October 2006	4.85	4.74	4.77
19 October 2006	4.85	4.75	4.79
20 October 2006	4.87	4.76	4.79
23 October 2006	4.90	4.80	4.83
24 October 2006	4.91	4.81	4.83
25 October 2006	4.88	4.75	4.78
26 October 2006	4.81	4.69	4.73
27 October 2006	4.76	4.64	4.68
30 October 2006	4.78	4.64	4.68
31 October 2006	4.71	4.57	4.61
1 November 2006	4.66	4.52	4.57
2 November 2006	4.67	4.55	4.60
3 November 2006	4.82	4.70	4.72
6 November 2006	4.82	4.69	4.71
7 November 2006	4.77	4.63	4.66
8 November 2006	4.75	4.61	4.64
9 November 2006	4.75	4.60	4.62
10 November 2006	4.73	4.57	4.59
13 November 2006	4.76	4.60	4.61
14 November 2006	4.74	4.57	4.57
15 November 2006	4.80	4.62	4.61
16 November 2006	4.85	4.67	4.66
17 November 2006	4.76	4.60	4.61
20 November 2006	4.76	4.60	4.60
21 November 2006	4.75	4.58	4.58
22 November 2006	4.74	4.57	4.57
23 November 2006	ND	ND	ND
24 November 2006	4.73	4.55	4.55
27 November 2006	4.71	4.54	4.54
28 November 2006	4.67	4.50	4.51
29 November 2006	4.69	4.51	4.52
30 November 2006	4.62	4.45	4.46
1 December 2006	4.52	4.39	4.43
4 December 2006	4.52	4.39	4.43
5 December 2006	4.52	4.39	4.45
6 December 2006	4.59	4.44	4.48
7 December 2006	4.58	4.45	4.49
8 December 2006	4.68	4.53	4.56
11 December 2006	4.67	4.50	4.52
12 December 2006	4.61	4.45	4.49
13 December 2006	4.70	4.54	4.58
14 December 2006	4.73	4.58	4.60
15 December 2006	4.73	4.57	4.60
18 December 2006	4.71	4.57	4.60
19 December 2006	4.71	4.57	4.60
20 December 2006	4.71	4.57	4.60
21 December 2006	4.66	4.52	4.55
22 December 2006	4.71	4.59	4.63
25 December 2006	ND	ND	ND
26 December 2006	4.71	4.58	4.61
27 December 2006	4.77	4.64	4.66
28 December 2006	4.82	4.69	4.70
29 December 2006	4.82	4.70	4.71
1 January 2007	ND	ND	ND
2 January 2007	4.80	4.68	4.68
3 January 2007	4.76	4.66	4.67
4 January 2007	4.71	4.61	4.62
5 January 2007	4.76	4.65	4.65
8 January 2007	4.78	4.66	4.66
9 January 2007	4.79	4.65	4.66
10 January 2007	4.81	4.68	4.69
11 January 2007	4.86	4.73	4.74
12 January 2007	4.88	4.76	4.77
15 January 2007	ND	ND	ND
16 January 2007	4.86	4.74	4.75
17 January 2007	4.91	4.78	4.79
18 January 2007	4.89	4.75	4.75
19 January 2007	4.93	4.78	4.78
22 January 2007	4.91	4.77	4.76
23 January 2007	4.94	4.81	4.81
24 January 2007	4.93	4.81	4.81
25 January 2007	4.98	4.85	4.87
26 January 2007	4.99	4.87	4.88
29 January 2007	4.99	4.89	4.90
30 January 2007	4.98	4.86	4.88
31 January 2007	4.94	4.82	4.83
1 February 2007	4.96	4.84	4.84
2 February 2007	4.94	4.82	4.83
5 February 2007	4.92	4.80	4.81
6 February 2007	4.90	4.76	4.77
7 February 2007	4.87	4.74	4.74
8 February 2007	4.87	4.73	4.73
9 February 2007	4.92	4.78	4.79
12 February 2007	4.94	4.80	4.80
13 February 2007	4.95	4.81	4.82
14 February 2007	4.87	4.72	4.74
15 February 2007	4.83	4.68	4.70
16 February 2007	4.83	4.68	4.69
19 February 2007	ND	ND	ND
20 February 2007	4.81	4.67	4.68
21 February 2007	4.82	4.68	4.69
22 February 2007	4.87	4.72	4.73
23 February 2007	4.82	4.67	4.68
26 February 2007	4.77	4.62	4.63
27 February 2007	4.59	4.46	4.50
28 February 2007	4.65	4.52	4.56
1 March 2007	4.63	4.50	4.56
2 March 2007	4.56	4.46	4.52
5 March 2007	4.53	4.45	4.51
6 March 2007	4.58	4.48	4.53
7 March 2007	4.54	4.45	4.50
8 March 2007	4.56	4.45	4.51
9 March 2007	4.66	4.55	4.59
12 March 2007	4.62	4.50	4.56
13 March 2007	4.52	4.41	4.50
14 March 2007	4.54	4.44	4.53
15 March 2007	4.57	4.46	4.54
16 March 2007	4.58	4.47	4.55
19 March 2007	4.61	4.50	4.58
20 March 2007	4.60	4.47	4.56
21 March 2007	4.51	4.43	4.53
22 March 2007	4.58	4.49	4.60
23 March 2007	4.60	4.52	4.62
26 March 2007	4.56	4.48	4.60
27 March 2007	4.58	4.50	4.62
28 March 2007	4.53	4.50	4.62
29 March 2007	4.58	4.53	4.64
30 March 2007	4.58	4.54	4.65
2 April 2007	4.60	4.54	4.65
3 April 2007	4.63	4.56	4.67
4 April 2007	4.61	4.55	4.66
5 April 2007	4.63	4.57	4.68
6 April 2007	4.75	4.67	4.76
9 April 2007	4.73	4.66	4.75
10 April 2007	4.71	4.63	4.73
11 April 2007	4.73	4.66	4.74
12 April 2007	4.73	4.66	4.74
13 April 2007	4.76	4.68	4.76
16 April 2007	4.74	4.67	4.74
17 April 2007	4.68	4.61	4.69
18 April 2007	4.64	4.56	4.66
19 April 2007	4.64	4.57	4.68
20 April 2007	4.64	4.57	4.68
23 April 2007	4.62	4.55	4.66
24 April 2007	4.58	4.51	4.63
25 April 2007	4.63	4.55	4.66
26 April 2007	4.67	4.59	4.69
27 April 2007	4.67	4.59	4.71
30 April 2007	4.60	4.51	4.63
1 May 2007	4.63	4.54	4.64
2 May 2007	4.65	4.55	4.65
3 May 2007	4.71	4.59	4.68
4 May 2007	4.68	4.55	4.65
7 May 2007	4.68	4.55	4.64
8 May 2007	4.68	4.54	4.63
9 May 2007	4.73	4.58	4.67
10 May 2007	4.70	4.56	4.65
11 May 2007	4.71	4.58	4.67
14 May 2007	4.73	4.61	4.69
15 May 2007	4.75	4.63	4.71
16 May 2007	4.73	4.62	4.71
17 May 2007	4.78	4.68	4.76
18 May 2007	4.82	4.74	4.81
21 May 2007	4.81	4.71	4.79
22 May 2007	4.83	4.76	4.83
23 May 2007	4.85	4.79	4.86
24 May 2007	4.85	4.79	4.86
25 May 2007	4.85	4.80	4.86
28 May 2007	ND	ND	ND
29 May 2007	4.88	4.82	4.88
30 May 2007	4.89	4.83	4.88
31 May 2007	4.92	4.86	4.90
1 June 2007	4.97	4.92	4.95
4 June 2007	4.97	4.91	4.93
5 June 2007	4.99	4.96	4.98
6 June 2007	4.97	4.94	4.97
7 June 2007	5.03	5.05	5.11
8 June 2007	5.01	5.06	5.12
11 June 2007	5.01	5.07	5.14
12 June 2007	5.08	5.18	5.26
13 June 2007	5.08	5.13	5.20
14 June 2007	5.10	5.16	5.23
15 June 2007	5.05	5.10	5.16
18 June 2007	5.01	5.07	5.15
19 June 2007	4.94	5.00	5.09
20 June 2007	4.97	5.05	5.14
21 June 2007	4.98	5.06	5.16
22 June 2007	4.92	5.02	5.14
25 June 2007	4.87	4.97	5.09
26 June 2007	4.90	4.99	5.10
27 June 2007	4.91	4.97	5.09
28 June 2007	4.96	5.02	5.12
29 June 2007	4.87	4.92	5.03
2 July 2007	4.86	4.90	5.00
3 July 2007	4.89	4.95	5.05
4 July 2007	ND	ND	ND
5 July 2007	4.99	5.05	5.16
6 July 2007	4.99	5.10	5.19
9 July 2007	4.97	5.07	5.16
10 July 2007	4.85	4.93	5.03
11 July 2007	4.89	4.98	5.09
12 July 2007	4.94	5.03	5.13
13 July 2007	4.94	5.01	5.11
16 July 2007	4.89	4.95	5.05
17 July 2007	4.91	4.98	5.08
18 July 2007	4.84	4.91	5.02
19 July 2007	4.87	4.94	5.04
20 July 2007	4.79	4.85	4.96
23 July 2007	4.80	4.86	4.97
24 July 2007	4.77	4.82	4.94
25 July 2007	4.74	4.80	4.92
26 July 2007	4.56	4.61	4.79
27 July 2007	4.56	4.60	4.80
30 July 2007	4.59	4.64	4.82
31 July 2007	4.56	4.60	4.78
1 August 2007	4.56	4.60	4.76
2 August 2007	4.59	4.62	4.77
3 August 2007	4.46	4.52	4.71
6 August 2007	4.46	4.52	4.72
7 August 2007	4.56	4.60	4.77
8 August 2007	4.64	4.69	4.84
9 August 2007	4.49	4.58	4.79
10 August 2007	4.47	4.59	4.81
13 August 2007	4.46	4.57	4.78
14 August 2007	4.39	4.51	4.73
15 August 2007	4.27	4.41	4.69
16 August 2007	4.08	4.26	4.60
17 August 2007	4.18	4.35	4.68
20 August 2007	4.11	4.32	4.64
21 August 2007	4.05	4.27	4.60
22 August 2007	4.15	4.34	4.63
23 August 2007	4.20	4.36	4.62
24 August 2007	4.30	4.42	4.63
27 August 2007	4.28	4.39	4.60
28 August 2007	4.13	4.25	4.53
29 August 2007	4.14	4.31	4.57
30 August 2007	4.08	4.21	4.51
31 August 2007	4.15	4.25	4.54
3 September 2007	ND	ND	ND
4 September 2007	4.13	4.26	4.56
5 September 2007	4.03	4.16	4.48
6 September 2007	4.08	4.20	4.51
7 September 2007	3.90	4.03	4.38
10 September 2007	3.87	4.00	4.34
11 September 2007	3.95	4.07	4.37
12 September 2007	3.95	4.11	4.41
13 September 2007	4.08	4.22	4.49
14 September 2007	4.05	4.18	4.47
17 September 2007	4.08	4.21	4.48
18 September 2007	4.00	4.19	4.50
19 September 2007	4.00	4.20	4.53
20 September 2007	4.10	4.35	4.69
21 September 2007	4.06	4.31	4.64
24 September 2007	4.05	4.31	4.63
25 September 2007	4.00	4.26	4.63
26 September 2007	3.97	4.27	4.63
27 September 2007	3.95	4.22	4.58
28 September 2007	3.97	4.23	4.59
1 October 2007	4.02	4.24	4.56
2 October 2007	3.98	4.20	4.54
3 October 2007	4.02	4.24	4.55
4 October 2007	4.00	4.22	4.54
5 October 2007	4.08	4.33	4.65
8 October 2007	ND	ND	ND
9 October 2007	4.15	4.38	4.67
10 October 2007	4.15	4.37	4.65
11 October 2007	4.13	4.36	4.66
12 October 2007	4.23	4.42	4.70
15 October 2007	4.22	4.40	4.69
16 October 2007	4.12	4.34	4.66
17 October 2007	4.00	4.22	4.57
18 October 2007	3.93	4.17	4.52
19 October 2007	3.80	4.03	4.41
22 October 2007	3.85	4.08	4.42
23 October 2007	3.81	4.06	4.41
24 October 2007	3.74	3.99	4.36
25 October 2007	3.74	4.01	4.37
26 October 2007	3.77	4.04	4.41
29 October 2007	3.79	4.04	4.39
30 October 2007	3.82	4.06	4.40
31 October 2007	3.94	4.16	4.48
1 November 2007	3.77	4.02	4.36
2 November 2007	3.66	3.93	4.31
5 November 2007	3.69	3.96	4.35
6 November 2007	3.70	3.99	4.38
7 November 2007	3.61	3.92	4.34
8 November 2007	3.47	3.81	4.28
9 November 2007	3.42	3.77	4.23
12 November 2007	ND	ND	ND
13 November 2007	3.54	3.84	4.26
14 November 2007	3.57	3.86	4.28
15 November 2007	3.35	3.71	4.17
16 November 2007	3.33	3.68	4.15
19 November 2007	3.18	3.57	4.07
20 November 2007	3.14	3.52	4.06
21 November 2007	2.99	3.40	4.00
22 November 2007	ND	ND	ND
23 November 2007	3.07	3.42	4.01
26 November 2007	2.92	3.23	3.83
27 November 2007	3.05	3.38	3.95
28 November 2007	3.17	3.50	4.03
29 November 2007	3.06	3.42	3.94
30 November 2007	3.04	3.41	3.97
3 December 2007	2.90	3.28	3.89
4 December 2007	2.90	3.28	3.89
5 December 2007	2.90	3.28	3.92
6 December 2007	3.03	3.39	4.02
7 December 2007	3.12	3.51	4.12
10 December 2007	3.17	3.54	4.15
11 December 2007	2.94	3.32	3.98
12 December 2007	3.07	3.41	4.05
13 December 2007	3.21	3.54	4.18
14 December 2007	3.31	3.63	4.24
17 December 2007	3.24	3.57	4.20
18 December 2007	3.19	3.53	4.14
19 December 2007	3.12	3.46	4.06
20 December 2007	3.09	3.45	4.04
21 December 2007	3.19	3.58	4.18
24 December 2007	3.24	3.65	4.23
25 December 2007	ND	ND	ND
26 December 2007	3.31	3.72	4.30
27 December 2007	3.24	3.64	4.21
28 December 2007	3.12	3.52	4.11
31 December 2007	3.05	3.45	4.04
1 January 2008	ND	ND	ND
2 January 2008	2.88	3.28	3.91
3 January 2008	2.83	3.26	3.91
4 January 2008	2.74	3.18	3.88
7 January 2008	2.76	3.16	3.86
8 January 2008	2.76	3.16	3.86
9 January 2008	2.69	3.10	3.82
10 January 2008	2.71	3.16	3.91
11 January 2008	2.59	3.06	3.82
14 January 2008	2.58	3.08	3.81
15 January 2008	2.53	3.00	3.72
16 January 2008	2.51	3.00	3.74
17 January 2008	2.44	2.90	3.66
18 January 2008	2.36	2.86	3.66
21 January 2008	ND	ND	ND
22 January 2008	2.08	2.64	3.52
23 January 2008	2.09	2.64	3.51
24 January 2008	2.25	2.85	3.68
25 January 2008	2.23	2.81	3.61
28 January 2008	2.20	2.80	3.61
29 January 2008	2.29	2.87	3.69
30 January 2008	2.30	2.96	3.78
31 January 2008	2.17	2.82	3.67
1 February 2008	2.09	2.75	3.62
4 February 2008	2.08	2.78	3.68
5 February 2008	1.93	2.66	3.61
6 February 2008	1.96	2.67	3.61
7 February 2008	1.99	2.79	3.74
8 February 2008	1.93	2.69	3.64
11 February 2008	1.93	2.67	3.62
12 February 2008	1.94	2.71	3.66
13 February 2008	1.91	2.71	3.70
14 February 2008	1.93	2.81	3.85
15 February 2008	1.91	2.76	3.76
18 February 2008	ND	ND	ND
19 February 2008	2.06	2.93	3.89
20 February 2008	2.14	3.02	3.93
21 February 2008	1.98	2.80	3.77
22 February 2008	1.98	2.81	3.79
25 February 2008	2.13	2.98	3.91
26 February 2008	2.04	2.92	3.88
27 February 2008	2.01	2.89	3.85
28 February 2008	1.87	2.73	3.71
29 February 2008	1.65	2.50	3.53
3 March 2008	1.61	2.48	3.54
4 March 2008	1.65	2.53	3.63
5 March 2008	1.66	2.59	3.70
6 March 2008	1.53	2.50	3.62
7 March 2008	1.53	2.45	3.56
10 March 2008	1.47	2.37	3.46
11 March 2008	1.74	2.61	3.60
12 March 2008	1.63	2.49	3.49
13 March 2008	1.63	2.53	3.56
14 March 2008	1.47	2.37	3.44
17 March 2008	1.35	2.23	3.34
18 March 2008	1.58	2.42	3.48
19 March 2008	1.54	2.36	3.38
20 March 2008	1.59	2.36	3.34
21 March 2008	ND	ND	ND
24 March 2008	1.84	2.64	3.56
25 March 2008	1.79	2.61	3.51
26 March 2008	1.71	2.55	3.51
27 March 2008	1.73	2.61	3.56
28 March 2008	1.67	2.51	3.47
31 March 2008	1.62	2.46	3.45
1 April 2008	1.80	2.65	3.57
2 April 2008	1.88	2.72	3.60
3 April 2008	1.91	2.75	3.61
4 April 2008	1.83	2.63	3.50
7 April 2008	1.95	2.75	3.57
8 April 2008	1.87	2.72	3.58
9 April 2008	1.77	2.59	3.49
10 April 2008	1.84	2.66	3.55
11 April 2008	1.76	2.57	3.49
14 April 2008	1.78	2.60	3.53
15 April 2008	1.84	2.68	3.60
16 April 2008	1.98	2.82	3.72
17 April 2008	2.13	2.90	3.75
18 April 2008	2.19	2.95	3.77
21 April 2008	2.20	2.95	3.75
22 April 2008	2.24	2.96	3.74
23 April 2008	2.22	2.98	3.77
24 April 2008	2.41	3.15	3.87
25 April 2008	2.44	3.20	3.91
28 April 2008	2.36	3.14	3.86
29 April 2008	2.35	3.11	3.85
30 April 2008	2.29	3.03	3.77
1 May 2008	2.37	3.06	3.78
2 May 2008	2.47	3.18	3.89
5 May 2008	2.42	3.14	3.88
6 May 2008	2.38	3.15	3.93
7 May 2008	2.31	3.09	3.87
8 May 2008	2.25	2.99	3.79
9 May 2008	2.25	2.98	3.77
12 May 2008	2.30	3.00	3.78
13 May 2008	2.47	3.17	3.90
14 May 2008	2.53	3.22	3.92
15 May 2008	2.45	3.10	3.83
16 May 2008	2.47	3.12	3.85
19 May 2008	2.42	3.09	3.83
20 May 2008	2.34	3.02	3.78
21 May 2008	2.41	3.09	3.81
22 May 2008	2.56	3.24	3.92
23 May 2008	2.46	3.15	3.85
26 May 2008	ND	ND	ND
27 May 2008	2.55	3.25	3.93
28 May 2008	2.62	3.36	4.03
29 May 2008	2.67	3.41	4.08
30 May 2008	2.66	3.41	4.06
2 June 2008	2.51	3.28	3.98
3 June 2008	2.45	3.21	3.92
4 June 2008	2.47	3.26	3.98
5 June 2008	2.52	3.34	4.06
6 June 2008	2.40	3.20	3.94
9 June 2008	2.73	3.41	4.02
10 June 2008	2.91	3.54	4.11
11 June 2008	2.83	3.49	4.10
12 June 2008	3.03	3.68	4.23
13 June 2008	3.05	3.73	4.27
16 June 2008	3.02	3.73	4.25
17 June 2008	2.94	3.66	4.23
18 June 2008	2.89	3.57	4.16
19 June 2008	2.99	3.67	4.22
20 June 2008	2.88	3.57	4.16
23 June 2008	2.98	3.65	4.19
24 June 2008	2.87	3.52	4.10
25 June 2008	2.82	3.54	4.12
26 June 2008	2.68	3.44	4.07
27 June 2008	2.65	3.36	3.99
30 June 2008	2.63	3.34	3.99
1 July 2008	2.63	3.33	4.01
2 July 2008	2.60	3.31	3.99
3 July 2008	2.54	3.28	3.99
4 July 2008	ND	ND	ND
7 July 2008	2.47	3.23	3.95
8 July 2008	2.47	3.19	3.91
9 July 2008	2.41	3.11	3.85
10 July 2008	2.44	3.10	3.83
11 July 2008	2.59	3.27	3.96
14 July 2008	2.47	3.20	3.90
15 July 2008	2.39	3.12	3.87
16 July 2008	2.44	3.20	3.97
17 July 2008	2.58	3.35	4.07
18 July 2008	2.66	3.42	4.11
21 July 2008	2.66	3.41	4.09
22 July 2008	2.74	3.48	4.14
23 July 2008	2.81	3.51	4.16
24 July 2008	2.61	3.37	4.03
25 July 2008	2.70	3.45	4.13
28 July 2008	2.59	3.34	4.06
29 July 2008	2.65	3.39	4.09
30 July 2008	2.64	3.36	4.07
31 July 2008	2.52	3.25	3.99
1 August 2008	2.51	3.23	3.97
4 August 2008	2.53	3.23	3.98
5 August 2008	2.54	3.28	4.04
6 August 2008	2.56	3.30	4.06
7 August 2008	2.43	3.16	3.92
8 August 2008	2.51	3.21	3.94
11 August 2008	2.56	3.27	3.99
12 August 2008	2.45	3.16	3.91
13 August 2008	2.50	3.21	3.94
14 August 2008	2.45	3.15	3.89
15 August 2008	2.40	3.11	3.84
18 August 2008	2.35	3.07	3.82
19 August 2008	2.32	3.07	3.83
20 August 2008	2.25	3.00	3.79
21 August 2008	2.33	3.08	3.84
22 August 2008	2.42	3.14	3.87
25 August 2008	2.33	3.04	3.79
26 August 2008	2.35	3.06	3.79
27 August 2008	2.31	3.02	3.77
28 August 2008	2.37	3.09	3.79
29 August 2008	2.36	3.10	3.83
1 September 2008	ND	ND	ND
2 September 2008	2.26	3.00	3.74
3 September 2008	2.26	2.95	3.71
4 September 2008	2.20	2.87	3.64
5 September 2008	2.23	2.91	3.66
8 September 2008	2.30	2.96	3.66
9 September 2008	2.23	2.90	3.62
10 September 2008	2.22	2.91	3.65
11 September 2008	2.18	2.87	3.64
12 September 2008	2.23	2.97	3.74
15 September 2008	1.78	2.59	3.47
16 September 2008	1.89	2.64	3.48
17 September 2008	1.64	2.52	3.41
18 September 2008	1.78	2.67	3.54
19 September 2008	2.16	3.01	3.78
22 September 2008	2.13	3.04	3.83
23 September 2008	2.11	3.03	3.85
24 September 2008	2.03	2.91	3.80
25 September 2008	2.16	3.09	3.88
26 September 2008	2.11	3.05	3.85
29 September 2008	1.70	2.70	3.61
30 September 2008	2.00	2.98	3.85
1 October 2008	1.82	2.87	3.77
2 October 2008	1.62	2.68	3.66
3 October 2008	1.60	2.64	3.63
6 October 2008	1.43	2.45	3.48
7 October 2008	1.47	2.45	3.50
8 October 2008	1.65	2.70	3.72
9 October 2008	1.65	2.79	3.84
10 October 2008	1.62	2.77	3.89
13 October 2008	ND	ND	ND
14 October 2008	1.82	3.01	4.08
15 October 2008	1.64	2.90	4.04
16 October 2008	1.61	2.84	3.99
17 October 2008	1.64	2.83	3.98
20 October 2008	1.71	2.82	3.91
21 October 2008	1.58	2.63	3.76
22 October 2008	1.53	2.56	3.65
23 October 2008	1.54	2.57	3.63
24 October 2008	1.57	2.64	3.76
27 October 2008	1.59	2.67	3.79
28 October 2008	1.65	2.75	3.89
29 October 2008	1.58	2.77	3.93
30 October 2008	1.59	2.84	4.00
31 October 2008	1.56	2.80	4.01
3 November 2008	1.45	2.71	3.96
4 November 2008	1.39	2.56	3.81
5 November 2008	1.36	2.50	3.73
6 November 2008	1.28	2.46	3.75
7 November 2008	1.33	2.56	3.83
10 November 2008	1.27	2.51	3.82
11 November 2008	ND	ND	ND
12 November 2008	1.19	2.37	3.75
13 November 2008	1.24	2.43	3.84
14 November 2008	1.22	2.33	3.72
17 November 2008	1.22	2.32	3.68
18 November 2008	1.15	2.22	3.53
19 November 2008	1.09	2.08	3.38
20 November 2008	1.00	1.94	3.10
21 November 2008	1.09	2.02	3.20
24 November 2008	1.31	2.24	3.35
25 November 2008	1.15	2.06	3.11
26 November 2008	1.09	2.01	2.99
27 November 2008	ND	ND	ND
28 November 2008	1.00	1.93	2.93
1 December 2008	0.90	1.71	2.72
2 December 2008	0.90	1.65	2.68
3 December 2008	0.87	1.60	2.67
4 December 2008	0.82	1.51	2.55
5 December 2008	0.93	1.67	2.67
8 December 2008	0.97	1.76	2.77
9 December 2008	0.84	1.61	2.67
10 December 2008	0.86	1.62	2.69
11 December 2008	0.79	1.55	2.64
12 December 2008	0.78	1.55	2.60
15 December 2008	0.75	1.50	2.53
16 December 2008	0.65	1.34	2.37
17 December 2008	0.73	1.35	2.20
18 December 2008	0.68	1.26	2.08
19 December 2008	0.74	1.35	2.13
22 December 2008	0.87	1.40	2.16
23 December 2008	0.90	1.53	2.18
24 December 2008	0.90	1.54	2.20
25 December 2008	ND	ND	ND
26 December 2008	0.89	1.51	2.16
29 December 2008	0.78	1.45	2.13
30 December 2008	0.75	1.47	2.11
31 December 2008	0.76	1.55	2.25
1 January 2009	ND	ND	ND
2 January 2009	0.88	1.72	2.46
5 January 2009	0.78	1.67	2.49
6 January 2009	0.80	1.68	2.51
7 January 2009	0.82	1.66	2.52
8 January 2009	0.83	1.60	2.47
9 January 2009	0.75	1.51	2.43
12 January 2009	0.74	1.45	2.34
13 January 2009	0.76	1.44	2.33
14 January 2009	0.73	1.36	2.24
15 January 2009	0.73	1.36	2.23
16 January 2009	0.73	1.47	2.36
19 January 2009	ND	ND	ND
20 January 2009	0.73	1.48	2.40
21 January 2009	0.78	1.60	2.56
22 January 2009	0.75	1.61	2.62
23 January 2009	0.83	1.64	2.65
26 January 2009	0.85	1.67	2.70
27 January 2009	0.87	1.59	2.59
28 January 2009	0.89	1.70	2.71
29 January 2009	0.95	1.87	2.87
30 January 2009	0.94	1.85	2.87
2 February 2009	0.89	1.75	2.76
3 February 2009	0.96	1.88	2.89
4 February 2009	0.98	1.91	2.95
5 February 2009	0.98	1.89	2.95
6 February 2009	0.99	1.97	3.05
9 February 2009	1.05	1.99	3.07
10 February 2009	0.92	1.79	2.90
11 February 2009	0.93	1.76	2.78
12 February 2009	0.89	1.73	2.75
13 February 2009	0.97	1.88	2.89
16 February 2009	ND	ND	ND
17 February 2009	0.87	1.65	2.64
18 February 2009	0.97	1.81	2.74
19 February 2009	1.01	1.89	2.85
20 February 2009	0.96	1.81	2.78
23 February 2009	0.96	1.84	2.78
24 February 2009	1.03	1.89	2.80
25 February 2009	1.09	2.06	2.95
26 February 2009	1.08	2.07	2.98
27 February 2009	1.00	1.99	3.02
2 March 2009	0.89	1.86	2.91
3 March 2009	0.91	1.87	2.93
4 March 2009	0.97	1.97	3.01
5 March 2009	0.90	1.82	2.83
6 March 2009	0.91	1.83	2.83
9 March 2009	0.96	1.90	2.89
10 March 2009	1.01	1.99	2.99
11 March 2009	1.03	1.96	2.95
12 March 2009	1.03	1.92	2.89
13 March 2009	0.98	1.87	2.89
16 March 2009	1.00	1.91	2.97
17 March 2009	1.05	2.00	3.02
18 March 2009	0.82	1.54	2.51
19 March 2009	0.87	1.64	2.61
20 March 2009	0.89	1.66	2.65
23 March 2009	0.93	1.69	2.68
24 March 2009	0.93	1.70	2.68
25 March 2009	0.96	1.84	2.81
26 March 2009	0.90	1.80	2.76
27 March 2009	0.90	1.79	2.78
30 March 2009	0.84	1.72	2.73
31 March 2009	0.81	1.67	2.71
1 April 2009	0.83	1.65	2.68
2 April 2009	0.88	1.74	2.77
3 April 2009	0.96	1.87	2.91
6 April 2009	0.94	1.90	2.95
7 April 2009	0.91	1.87	2.93
8 April 2009	0.93	1.83	2.86
9 April 2009	0.96	1.90	2.96
10 April 2009	ND	ND	ND
13 April 2009	0.89	1.81	2.88
14 April 2009	0.86	1.71	2.80
15 April 2009	0.86	1.71	2.82
16 April 2009	0.91	1.79	2.86
17 April 2009	0.99	1.91	2.98
20 April 2009	0.93	1.82	2.88
21 April 2009	0.96	1.87	2.94
22 April 2009	1.00	1.92	2.98
23 April 2009	0.97	1.89	2.96
24 April 2009	0.99	1.96	3.03
27 April 2009	0.90	1.87	2.95
28 April 2009	0.95	1.97	3.05
29 April 2009	0.94	2.01	3.12
30 April 2009	0.91	2.02	3.16
1 May 2009	0.92	2.03	3.21
4 May 2009	0.94	2.03	3.19
5 May 2009	0.98	2.05	3.20
6 May 2009	0.96	2.06	3.18
7 May 2009	1.00	2.15	3.29
8 May 2009	1.00	2.15	3.29
11 May 2009	0.92	2.04	3.17
12 May 2009	0.90	2.02	3.17
13 May 2009	0.89	1.98	3.11
14 May 2009	0.87	1.98	3.10
15 May 2009	0.88	2.01	3.14
18 May 2009	0.93	2.09	3.22
19 May 2009	0.91	2.12	3.25
20 May 2009	0.87	2.05	3.19
21 May 2009	0.89	2.16	3.35
22 May 2009	0.92	2.23	3.45
25 May 2009	ND	ND	ND
26 May 2009	0.96	2.30	3.50
27 May 2009	0.96	2.43	3.71
28 May 2009	0.97	2.46	3.67
29 May 2009	0.92	2.34	3.47
1 June 2009	0.97	2.55	3.71
2 June 2009	0.96	2.52	3.65
3 June 2009	0.91	2.43	3.56
4 June 2009	0.96	2.56	3.72
5 June 2009	1.32	2.85	3.84
8 June 2009	1.42	2.95	3.91
9 June 2009	1.33	2.86	3.86
10 June 2009	1.38	2.93	3.98
11 June 2009	1.35	2.87	3.88
12 June 2009	1.30	2.81	3.81
15 June 2009	1.26	2.75	3.76
16 June 2009	1.23	2.70	3.67
17 June 2009	1.19	2.69	3.68
18 June 2009	1.28	2.86	3.86
19 June 2009	1.25	2.82	3.79
22 June 2009	1.17	2.75	3.72
23 June 2009	1.14	2.71	3.65
24 June 2009	1.19	2.74	3.72
25 June 2009	1.12	2.58	3.55
26 June 2009	1.10	2.53	3.52
29 June 2009	1.11	2.53	3.51
30 June 2009	1.11	2.54	3.53
1 July 2009	1.05	2.51	3.55
2 July 2009	0.98	2.43	3.51
3 July 2009	ND	ND	ND
6 July 2009	0.96	2.40	3.52
7 July 2009	0.98	2.36	3.47
8 July 2009	0.91	2.23	3.33
9 July 2009	0.94	2.33	3.44
10 July 2009	0.91	2.22	3.32
13 July 2009	0.92	2.27	3.38
14 July 2009	0.97	2.37	3.50
15 July 2009	1.03	2.52	3.63
16 July 2009	1.00	2.46	3.59
17 July 2009	1.02	2.52	3.67
20 July 2009	0.99	2.46	3.61
21 July 2009	0.96	2.36	3.50
22 July 2009	0.98	2.43	3.58
23 July 2009	1.08	2.60	3.72
24 July 2009	1.05	2.57	3.70
27 July 2009	1.08	2.63	3.75
28 July 2009	1.12	2.63	3.72
29 July 2009	1.17	2.69	3.69
30 July 2009	1.19	2.66	3.67
31 July 2009	1.13	2.53	3.52
3 August 2009	1.18	2.66	3.66
4 August 2009	1.20	2.68	3.70
5 August 2009	1.23	2.73	3.80
6 August 2009	1.22	2.73	3.79
7 August 2009	1.32	2.84	3.89
10 August 2009	1.24	2.75	3.80
11 August 2009	1.21	2.69	3.71
12 August 2009	1.18	2.70	3.72
13 August 2009	1.12	2.58	3.59
14 August 2009	1.07	2.51	3.55
17 August 2009	1.04	2.43	3.48
18 August 2009	1.06	2.48	3.51
19 August 2009	1.01	2.43	3.45
20 August 2009	1.03	2.43	3.42
21 August 2009	1.13	2.58	3.56
24 August 2009	1.05	2.50	3.48
25 August 2009	1.05	2.48	3.45
26 August 2009	1.06	2.46	3.44
27 August 2009	1.04	2.48	3.47
28 August 2009	1.01	2.46	3.46
31 August 2009	0.97	2.39	3.40
1 September 2009	0.92	2.33	3.38
2 September 2009	0.89	2.26	3.29
3 September 2009	0.91	2.29	3.33
4 September 2009	0.94	2.36	3.45
7 September 2009	ND	ND	ND
8 September 2009	0.93	2.38	3.47
9 September 2009	0.93	2.38	3.48
10 September 2009	0.90	2.29	3.36
11 September 2009	0.90	2.29	3.34
14 September 2009	0.94	2.37	3.42
15 September 2009	0.96	2.41	3.47
16 September 2009	1.01	2.46	3.48
17 September 2009	0.98	2.41	3.42
18 September 2009	1.03	2.49	3.49
21 September 2009	1.02	2.47	3.49
22 September 2009	1.02	2.45	3.46
23 September 2009	0.96	2.40	3.44
24 September 2009	0.93	2.37	3.40
25 September 2009	0.98	2.36	3.34
28 September 2009	0.98	2.33	3.31
29 September 2009	1.00	2.34	3.31
30 September 2009	0.95	2.31	3.31
1 October 2009	0.87	2.20	3.21
2 October 2009	0.88	2.22	3.24
5 October 2009	0.88	2.21	3.24
6 October 2009	0.91	2.25	3.27
7 October 2009	0.87	2.16	3.21
8 October 2009	0.90	2.22	3.27
9 October 2009	0.98	2.36	3.40
12 October 2009	ND	ND	ND
13 October 2009	0.91	2.28	3.34
14 October 2009	0.96	2.36	3.45
15 October 2009	0.97	2.41	3.49
16 October 2009	0.97	2.37	3.43
19 October 2009	0.99	2.36	3.41
20 October 2009	0.95	2.30	3.35
21 October 2009	1.00	2.38	3.42
22 October 2009	0.97	2.39	3.44
23 October 2009	1.04	2.46	3.51
26 October 2009	1.06	2.53	3.59
27 October 2009	0.99	2.41	3.49
28 October 2009	0.95	2.37	3.44
29 October 2009	0.98	2.44	3.53
30 October 2009	0.90	2.31	3.41
2 November 2009	0.92	2.33	3.45
3 November 2009	0.92	2.36	3.50
4 November 2009	0.91	2.39	3.57
5 November 2009	0.90	2.35	3.57
6 November 2009	0.86	2.30	3.54
9 November 2009	0.87	2.31	3.52
10 November 2009	0.85	2.31	3.50
11 November 2009	ND	ND	ND
12 November 2009	0.82	2.28	3.45
13 November 2009	0.82	2.28	3.43
16 November 2009	0.78	2.19	3.33
17 November 2009	0.78	2.19	3.33
18 November 2009	0.77	2.21	3.36
19 November 2009	0.73	2.18	3.35
20 November 2009	0.75	2.20	3.36
23 November 2009	0.77	2.20	3.37
24 November 2009	0.73	2.15	3.32
25 November 2009	0.73	2.11	3.28
26 November 2009	ND	ND	ND
27 November 2009	0.68	2.03	3.21
30 November 2009	0.67	2.01	3.21
1 December 2009	0.67	2.03	3.28
2 December 2009	0.72	2.09	3.32
3 December 2009	0.74	2.14	3.39
4 December 2009	0.84	2.24	3.48
7 December 2009	0.78	2.19	3.44
8 December 2009	0.73	2.12	3.40
9 December 2009	0.76	2.15	3.45
10 December 2009	0.78	2.19	3.49
11 December 2009	0.83	2.26	3.55
14 December 2009	0.87	2.30	3.56
15 December 2009	0.88	2.35	3.60
16 December 2009	0.85	2.35	3.61
17 December 2009	0.77	2.24	3.50
18 December 2009	0.82	2.30	3.55
21 December 2009	0.89	2.43	3.69
22 December 2009	0.95	2.49	3.76
23 December 2009	0.96	2.51	3.77
24 December 2009	1.00	2.57	3.82
25 December 2009	ND	ND	ND
28 December 2009	1.09	2.62	3.85
29 December 2009	1.09	2.62	3.82
30 December 2009	1.08	2.61	3.80
31 December 2009	1.14	2.69	3.85
1 January 2010	ND	ND	ND
4 January 2010	1.09	2.65	3.85
5 January 2010	1.01	2.56	3.77
6 January 2010	1.01	2.60	3.85
7 January 2010	1.03	2.62	3.85
8 January 2010	0.96	2.57	3.83
11 January 2010	0.95	2.58	3.85
12 January 2010	0.92	2.49	3.74
13 January 2010	0.97	2.55	3.80
14 January 2010	0.94	2.51	3.76
15 January 2010	0.89	2.44	3.70
18 January 2010	ND	ND	ND
19 January 2010	0.93	2.48	3.73
20 January 2010	0.92	2.45	3.68
21 January 2010	0.87	2.38	3.62
22 January 2010	0.84	2.37	3.62
25 January 2010	0.86	2.39	3.66
26 January 2010	0.87	2.38	3.65
27 January 2010	0.90	2.43	3.66
28 January 2010	0.87	2.41	3.68
29 January 2010	0.82	2.34	3.63
1 February 2010	0.86	2.38	3.68
2 February 2010	0.86	2.37	3.67
3 February 2010	0.88	2.40	3.73
4 February 2010	0.80	2.29	3.62
5 February 2010	0.77	2.23	3.59
8 February 2010	0.79	2.26	3.62
9 February 2010	0.84	2.32	3.67
10 February 2010	0.91	2.39	3.72
11 February 2010	0.91	2.39	3.73
12 February 2010	0.84	2.35	3.69
15 February 2010	ND	ND	ND
16 February 2010	0.82	2.32	3.66
17 February 2010	0.87	2.40	3.74
18 February 2010	0.90	2.46	3.79
19 February 2010	0.95	2.48	3.78
22 February 2010	0.91	2.47	3.80
23 February 2010	0.87	2.37	3.69
24 February 2010	0.87	2.40	3.70
25 February 2010	0.82	2.33	3.64
26 February 2010	0.81	2.30	3.61
1 March 2010	0.80	2.28	3.61
2 March 2010	0.80	2.27	3.62
3 March 2010	0.82	2.27	3.63
4 March 2010	0.86	2.28	3.61
5 March 2010	0.91	2.35	3.69
8 March 2010	0.90	2.36	3.72
9 March 2010	0.89	2.34	3.71
10 March 2010	0.92	2.39	3.73
11 March 2010	0.97	2.43	3.73
12 March 2010	0.97	2.42	3.71
15 March 2010	0.96	2.42	3.71
16 March 2010	0.93	2.37	3.66
17 March 2010	0.95	2.38	3.65
18 March 2010	0.98	2.44	3.68
19 March 2010	1.02	2.48	3.70
22 March 2010	1.01	2.43	3.67
23 March 2010	1.02	2.44	3.69
24 March 2010	1.08	2.62	3.84
25 March 2010	1.10	2.65	3.91
26 March 2010	1.04	2.59	3.86
29 March 2010	1.04	2.60	3.88
30 March 2010	1.06	2.60	3.88
31 March 2010	1.02	2.55	3.84
1 April 2010	1.05	2.59	3.89
2 April 2010	1.11	2.67	3.96
5 April 2010	1.18	2.75	4.01
6 April 2010	1.14	2.71	3.98
7 April 2010	1.06	2.62	3.89
8 April 2010	1.09	2.64	3.91
9 April 2010	1.08	2.65	3.90
12 April 2010	1.07	2.60	3.87
13 April 2010	1.07	2.58	3.84
14 April 2010	1.07	2.61	3.88
15 April 2010	1.04	2.57	3.86
16 April 2010	0.98	2.49	3.79
19 April 2010	1.01	2.54	3.83
20 April 2010	1.05	2.56	3.82
21 April 2010	1.03	2.52	3.77
22 April 2010	1.07	2.57	3.80
23 April 2010	1.10	2.61	3.84
26 April 2010	1.09	2.60	3.83
27 April 2010	1.03	2.46	3.71
28 April 2010	1.03	2.53	3.80
29 April 2010	1.01	2.49	3.76
30 April 2010	0.97	2.43	3.69
3 May 2010	1.00	2.47	3.72
4 May 2010	0.96	2.38	3.63
5 May 2010	0.88	2.31	3.58
6 May 2010	0.75	2.13	3.41
7 May 2010	0.83	2.17	3.45
10 May 2010	0.87	2.27	3.57
11 May 2010	0.85	2.26	3.56
12 May 2010	0.89	2.29	3.56
13 May 2010	0.87	2.27	3.55
14 May 2010	0.79	2.16	3.44
17 May 2010	0.81	2.20	3.47
18 May 2010	0.76	2.11	3.38
19 May 2010	0.80	2.13	3.36
20 May 2010	0.76	2.04	3.25
21 May 2010	0.76	2.02	3.20
24 May 2010	0.77	2.04	3.23
25 May 2010	0.81	2.01	3.18
26 May 2010	0.82	2.06	3.21
27 May 2010	0.87	2.18	3.34
28 May 2010	0.76	2.10	3.31
31 May 2010	ND	ND	ND
1 June 2010	0.78	2.09	3.29
2 June 2010	0.82	2.14	3.35
3 June 2010	0.82	2.17	3.39
4 June 2010	0.72	1.98	3.20
7 June 2010	0.74	1.95	3.17
8 June 2010	0.74	1.98	3.18
9 June 2010	0.74	1.99	3.20
10 June 2010	0.79	2.12	3.33
11 June 2010	0.75	2.03	3.24
14 June 2010	0.77	2.07	3.28
15 June 2010	0.79	2.10	3.32
16 June 2010	0.75	2.06	3.27
17 June 2010	0.72	2.01	3.21
18 June 2010	0.74	2.04	3.24
21 June 2010	0.74	2.05	3.26
22 June 2010	0.71	1.98	3.18
23 June 2010	0.66	1.93	3.13
24 June 2010	0.67	1.93	3.14
25 June 2010	0.65	1.90	3.12
28 June 2010	0.62	1.83	3.05
29 June 2010	0.61	1.78	2.97
30 June 2010	0.61	1.79	2.97
1 July 2010	0.63	1.80	2.96
2 July 2010	0.63	1.82	3.00
5 July 2010	ND	ND	ND
6 July 2010	0.62	1.76	2.95
7 July 2010	0.63	1.79	3.00
8 July 2010	0.63	1.80	3.04
9 July 2010	0.63	1.85	3.07
12 July 2010	0.65	1.85	3.08
13 July 2010	0.67	1.90	3.15
14 July 2010	0.62	1.82	3.07
15 July 2010	0.61	1.76	3.00
16 July 2010	0.61	1.70	2.96
19 July 2010	0.61	1.73	2.99
20 July 2010	0.61	1.71	2.98
21 July 2010	0.58	1.66	2.90
22 July 2010	0.60	1.69	2.96
23 July 2010	0.60	1.75	3.02
26 July 2010	0.62	1.76	3.03
27 July 2010	0.65	1.82	3.08
28 July 2010	0.61	1.75	3.03
29 July 2010	0.59	1.70	3.03
30 July 2010	0.55	1.60	2.94
2 August 2010	0.56	1.64	2.99
3 August 2010	0.53	1.55	2.94
4 August 2010	0.56	1.62	2.98
5 August 2010	0.53	1.57	2.94
6 August 2010	0.50	1.51	2.86
9 August 2010	0.54	1.54	2.86
10 August 2010	0.52	1.46	2.79
11 August 2010	0.54	1.44	2.72
12 August 2010	0.55	1.48	2.74
13 August 2010	0.54	1.47	2.68
16 August 2010	0.51	1.40	2.58
17 August 2010	0.52	1.44	2.64
18 August 2010	0.51	1.46	2.64
19 August 2010	0.49	1.41	2.58
20 August 2010	0.49	1.47	2.62
23 August 2010	0.49	1.43	2.60
24 August 2010	0.50	1.36	2.50
25 August 2010	0.53	1.40	2.54
26 August 2010	0.51	1.38	2.50
27 August 2010	0.56	1.49	2.66
30 August 2010	0.50	1.39	2.54
31 August 2010	0.47	1.33	2.47
1 September 2010	0.50	1.41	2.58
2 September 2010	0.50	1.43	2.63
3 September 2010	0.52	1.49	2.72
6 September 2010	ND	ND	ND
7 September 2010	0.49	1.41	2.61
8 September 2010	0.52	1.46	2.66
9 September 2010	0.57	1.57	2.77
10 September 2010	0.58	1.59	2.81
13 September 2010	0.53	1.51	2.74
14 September 2010	0.50	1.43	2.68
15 September 2010	0.50	1.46	2.74
16 September 2010	0.48	1.48	2.77
17 September 2010	0.48	1.46	2.75
20 September 2010	0.47	1.43	2.72
21 September 2010	0.43	1.34	2.61
22 September 2010	0.44	1.33	2.56
23 September 2010	0.45	1.34	2.56
24 September 2010	0.45	1.37	2.62
27 September 2010	0.44	1.31	2.54
28 September 2010	0.37	1.25	2.48
29 September 2010	0.44	1.28	2.52
30 September 2010	0.42	1.27	2.53
1 October 2010	0.42	1.26	2.54
4 October 2010	0.41	1.23	2.50
5 October 2010	0.41	1.21	2.50
6 October 2010	0.38	1.16	2.41
7 October 2010	0.36	1.14	2.41
8 October 2010	0.35	1.11	2.41
11 October 2010	ND	ND	ND
12 October 2010	0.37	1.14	2.44
13 October 2010	0.37	1.13	2.46
14 October 2010	0.38	1.18	2.52
15 October 2010	0.37	1.20	2.59
18 October 2010	0.38	1.14	2.52
19 October 2010	0.37	1.11	2.50
20 October 2010	0.35	1.11	2.51
21 October 2010	0.37	1.15	2.57
22 October 2010	0.35	1.17	2.59
25 October 2010	0.37	1.20	2.59
26 October 2010	0.40	1.27	2.67
27 October 2010	0.40	1.34	2.75
28 October 2010	0.37	1.23	2.69
29 October 2010	0.34	1.17	2.63
1 November 2010	0.34	1.17	2.66
2 November 2010	0.34	1.15	2.63
3 November 2010	0.34	1.11	2.67
4 November 2010	0.33	1.04	2.53
5 November 2010	0.38	1.10	2.58
8 November 2010	0.41	1.13	2.60
9 November 2010	0.46	1.27	2.72
10 November 2010	0.44	1.23	2.65
11 November 2010	ND	ND	ND
12 November 2010	0.51	1.35	2.76
15 November 2010	0.53	1.51	2.92
16 November 2010	0.51	1.49	2.85
17 November 2010	0.50	1.49	2.89
18 November 2010	0.52	1.51	2.90
19 November 2010	0.52	1.54	2.88
22 November 2010	0.49	1.44	2.80
23 November 2010	0.45	1.40	2.77
24 November 2010	0.53	1.56	2.93
25 November 2010	ND	ND	ND
26 November 2010	0.51	1.53	2.87
29 November 2010	0.52	1.51	2.84
30 November 2010	0.45	1.47	2.81
1 December 2010	0.53	1.64	2.97
2 December 2010	0.55	1.68	3.01
3 December 2010	0.49	1.64	3.03
6 December 2010	0.42	1.53	2.95
7 December 2010	0.54	1.74	3.15
8 December 2010	0.63	1.87	3.26
9 December 2010	0.64	1.90	3.23
10 December 2010	0.64	1.98	3.32
13 December 2010	0.61	1.91	3.29
14 December 2010	0.66	2.08	3.49
15 December 2010	0.68	2.11	3.53
16 December 2010	0.66	2.06	3.47
17 December 2010	0.61	1.97	3.33
20 December 2010	0.62	1.99	3.36
21 December 2010	0.63	1.99	3.35
22 December 2010	0.65	2.02	3.36
23 December 2010	0.67	2.09	3.41
24 December 2010	ND	ND	ND
27 December 2010	0.71	2.08	3.36
28 December 2010	0.75	2.18	3.50
29 December 2010	0.64	2.03	3.35
30 December 2010	0.66	2.06	3.38
31 December 2010	0.61	2.01	3.30
3 January 2011	0.61	2.02	3.36
4 January 2011	0.63	2.01	3.36
5 January 2011	0.71	2.14	3.50
6 January 2011	0.68	2.09	3.44
7 January 2011	0.60	1.96	3.34
10 January 2011	0.59	1.93	3.32
11 January 2011	0.60	1.98	3.37
12 January 2011	0.61	1.99	3.40
13 January 2011	0.59	1.93	3.34
14 January 2011	0.59	1.95	3.35
17 January 2011	ND	ND	ND
18 January 2011	0.60	1.97	3.39
19 January 2011	0.60	1.95	3.37
20 January 2011	0.65	2.06	3.47
21 January 2011	0.63	2.04	3.44
24 January 2011	0.65	2.03	3.43
25 January 2011	0.62	1.96	3.35
26 January 2011	0.62	2.03	3.45
27 January 2011	0.59	1.98	3.42
28 January 2011	0.54	1.92	3.36
31 January 2011	0.58	1.95	3.42
1 February 2011	0.61	2.02	3.48
2 February 2011	0.67	2.10	3.52
3 February 2011	0.71	2.18	3.58
4 February 2011	0.77	2.27	3.68
7 February 2011	0.78	2.29	3.68
8 February 2011	0.86	2.39	3.75
9 February 2011	0.81	2.33	3.65
10 February 2011	0.85	2.40	3.70
11 February 2011	0.85	2.38	3.64
14 February 2011	0.87	2.37	3.62
15 February 2011	0.84	2.35	3.61
16 February 2011	0.86	2.37	3.62
17 February 2011	0.80	2.30	3.58
18 February 2011	0.78	2.30	3.59
21 February 2011	ND	ND	ND
22 February 2011	0.74	2.16	3.46
23 February 2011	0.74	2.21	3.49
24 February 2011	0.73	2.19	3.46
25 February 2011	0.72	2.16	3.42
28 February 2011	0.69	2.13	3.42
1 March 2011	0.66	2.11	3.41
2 March 2011	0.69	2.16	3.46
3 March 2011	0.79	2.30	3.58
4 March 2011	0.68	2.17	3.49
7 March 2011	0.70	2.19	3.51
8 March 2011	0.73	2.22	3.56
9 March 2011	0.70	2.16	3.48
10 March 2011	0.65	2.05	3.37
11 March 2011	0.64	2.06	3.40
14 March 2011	0.61	2.00	3.36
15 March 2011	0.63	2.00	3.33
16 March 2011	0.58	1.87	3.22
17 March 2011	0.60	1.91	3.25
18 March 2011	0.61	1.96	3.28
21 March 2011	0.67	2.04	3.34
22 March 2011	0.68	2.07	3.34
23 March 2011	0.69	2.07	3.36
24 March 2011	0.72	2.14	3.42
25 March 2011	0.79	2.20	3.46
28 March 2011	0.81	2.23	3.47
29 March 2011	0.81	2.25	3.50
30 March 2011	0.80	2.21	3.47
31 March 2011	0.80	2.24	3.47
1 April 2011	0.80	2.24	3.46
4 April 2011	0.77	2.20	3.45
5 April 2011	0.84	2.28	3.50
6 April 2011	0.85	2.32	3.56
7 April 2011	0.81	2.29	3.58
8 April 2011	0.83	2.31	3.59
11 April 2011	0.85	2.31	3.59
12 April 2011	0.77	2.22	3.52
13 April 2011	0.75	2.19	3.49
14 April 2011	0.77	2.23	3.51
15 April 2011	0.71	2.14	3.43
18 April 2011	0.69	2.09	3.40
19 April 2011	0.68	2.09	3.39
20 April 2011	0.69	2.15	3.43
21 April 2011	0.68	2.14	3.42
22 April 2011	ND	ND	ND
25 April 2011	0.67	2.10	3.39
26 April 2011	0.65	2.05	3.34
27 April 2011	0.65	2.06	3.39
28 April 2011	0.62	2.00	3.34
29 April 2011	0.61	1.97	3.32
2 May 2011	0.61	1.96	3.31
3 May 2011	0.61	1.96	3.28
4 May 2011	0.60	1.95	3.25
5 May 2011	0.58	1.88	3.18
6 May 2011	0.57	1.87	3.19
9 May 2011	0.57	1.84	3.17
10 May 2011	0.59	1.91	3.23
11 May 2011	0.56	1.87	3.19
12 May 2011	0.57	1.89	3.22
13 May 2011	0.57	1.86	3.18
16 May 2011	0.54	1.83	3.15
17 May 2011	0.55	1.80	3.12
18 May 2011	0.58	1.87	3.18
19 May 2011	0.55	1.85	3.17
20 May 2011	0.55	1.82	3.15
23 May 2011	0.55	1.80	3.13
24 May 2011	0.56	1.81	3.12
25 May 2011	0.54	1.81	3.13
26 May 2011	0.48	1.72	3.07
27 May 2011	0.48	1.71	3.07
30 May 2011	ND	ND	ND
31 May 2011	0.45	1.68	3.05
1 June 2011	0.44	1.60	2.96
2 June 2011	0.45	1.65	3.04
3 June 2011	0.42	1.60	2.99
6 June 2011	0.43	1.60	3.01
7 June 2011	0.39	1.59	3.01
8 June 2011	0.39	1.52	2.98
9 June 2011	0.43	1.60	3.01
10 June 2011	0.41	1.58	2.99
13 June 2011	0.40	1.59	3.00
14 June 2011	0.45	1.70	3.11
15 June 2011	0.38	1.55	2.98
16 June 2011	0.38	1.52	2.93
17 June 2011	0.38	1.53	2.94
20 June 2011	0.38	1.55	2.97
21 June 2011	0.40	1.57	2.99
22 June 2011	0.39	1.58	3.01
23 June 2011	0.35	1.48	2.93
24 June 2011	0.35	1.40	2.88
27 June 2011	0.41	1.47	2.95
28 June 2011	0.48	1.62	3.05
29 June 2011	0.47	1.70	3.14
30 June 2011	0.45	1.76	3.18
1 July 2011	0.50	1.80	3.22
4 July 2011	ND	ND	ND
5 July 2011	0.44	1.70	3.16
6 July 2011	0.43	1.66	3.12
7 July 2011	0.49	1.74	3.17
8 July 2011	0.40	1.57	3.03
11 July 2011	0.37	1.49	2.94
12 July 2011	0.37	1.47	2.92
13 July 2011	0.37	1.45	2.92
14 July 2011	0.38	1.51	2.98
15 July 2011	0.37	1.46	2.94
18 July 2011	0.37	1.45	2.94
19 July 2011	0.39	1.45	2.91
20 July 2011	0.40	1.49	2.96
21 July 2011	0.40	1.56	3.03
22 July 2011	0.40	1.53	2.99
25 July 2011	0.42	1.55	3.03
26 July 2011	0.41	1.51	2.99
27 July 2011	0.44	1.56	3.01
28 July 2011	0.42	1.52	2.98
29 July 2011	0.36	1.35	2.82
1 August 2011	0.38	1.32	2.77
2 August 2011	0.33	1.23	2.66
3 August 2011	0.33	1.25	2.64
4 August 2011	0.27	1.12	2.47
5 August 2011	0.28	1.23	2.58
8 August 2011	0.27	1.11	2.40
9 August 2011	0.19	0.91	2.20
10 August 2011	0.19	0.93	2.17
11 August 2011	0.19	1.02	2.34
12 August 2011	0.20	0.96	2.24
15 August 2011	0.19	0.99	2.29
16 August 2011	0.20	0.95	2.23
17 August 2011	0.19	0.92	2.17
18 August 2011	0.20	0.90	2.08
19 August 2011	0.20	0.90	2.07
22 August 2011	0.22	0.94	2.10
23 August 2011	0.22	0.95	2.15
24 August 2011	0.23	1.05	2.29
25 August 2011	0.22	0.98	2.23
26 August 2011	0.20	0.94	2.19
29 August 2011	0.20	0.99	2.28
30 August 2011	0.20	0.94	2.19
31 August 2011	0.20	0.96	2.23
1 September 2011	0.19	0.90	2.15
2 September 2011	0.20	0.88	2.02
5 September 2011	ND	ND	ND
6 September 2011	0.21	0.88	1.98
7 September 2011	0.21	0.92	2.05
8 September 2011	0.19	0.88	2.00
9 September 2011	0.17	0.81	1.93
12 September 2011	0.21	0.87	1.94
13 September 2011	0.21	0.89	2.00
14 September 2011	0.19	0.91	2.03
15 September 2011	0.21	0.95	2.09
16 September 2011	0.18	0.94	2.08
19 September 2011	0.16	0.85	1.97
20 September 2011	0.18	0.85	1.95
21 September 2011	0.21	0.88	1.88
22 September 2011	0.20	0.79	1.72
23 September 2011	0.23	0.89	1.84
26 September 2011	0.25	0.92	1.91
27 September 2011	0.25	0.97	2.00
28 September 2011	0.27	0.99	2.03
29 September 2011	0.27	0.98	1.99
30 September 2011	0.25	0.96	1.92
3 October 2011	0.24	0.87	1.80
4 October 2011	0.25	0.90	1.81
5 October 2011	0.25	0.96	1.92
6 October 2011	0.29	1.01	2.01
7 October 2011	0.30	1.08	2.10
10 October 2011	ND	ND	ND
11 October 2011	0.32	1.14	2.18
12 October 2011	0.29	1.17	2.24
13 October 2011	0.29	1.11	2.19
14 October 2011	0.28	1.12	2.26
17 October 2011	0.28	1.08	2.18
18 October 2011	0.28	1.07	2.19
19 October 2011	0.28	1.05	2.18
20 October 2011	0.28	1.07	2.20
21 October 2011	0.30	1.08	2.23
24 October 2011	0.30	1.10	2.25
25 October 2011	0.26	1.01	2.14
26 October 2011	0.28	1.09	2.23
27 October 2011	0.31	1.20	2.42
28 October 2011	0.28	1.13	2.34
31 October 2011	0.25	0.99	2.17
1 November 2011	0.23	0.90	2.01
2 November 2011	0.23	0.89	2.03
3 November 2011	0.24	0.91	2.09
4 November 2011	0.22	0.88	2.06
7 November 2011	0.25	0.88	2.04
8 November 2011	0.25	0.92	2.10
9 November 2011	0.24	0.88	2.00
10 November 2011	0.24	0.90	2.04
11 November 2011	ND	ND	ND
14 November 2011	0.24	0.91	2.04
15 November 2011	0.26	0.93	2.06
16 November 2011	0.26	0.90	2.01
17 November 2011	0.27	0.88	1.96
18 November 2011	0.29	0.94	2.01
21 November 2011	0.27	0.92	1.97
22 November 2011	0.26	0.91	1.94
23 November 2011	0.26	0.88	1.89
24 November 2011	ND	ND	ND
25 November 2011	0.28	0.93	1.97
28 November 2011	0.26	0.91	1.97
29 November 2011	0.27	0.93	2.00
30 November 2011	0.25	0.96	2.08
1 December 2011	0.27	0.97	2.11
2 December 2011	0.25	0.92	2.05
5 December 2011	0.27	0.93	2.04
6 December 2011	0.25	0.94	2.08
7 December 2011	0.24	0.89	2.02
8 December 2011	0.22	0.86	1.99
9 December 2011	0.22	0.89	2.07
12 December 2011	0.24	0.87	2.03
13 December 2011	0.24	0.85	1.96
14 December 2011	0.25	0.86	1.92
15 December 2011	0.26	0.86	1.92
16 December 2011	0.24	0.81	1.86
19 December 2011	0.24	0.82	1.82
20 December 2011	0.26	0.88	1.94
21 December 2011	0.28	0.91	1.98
22 December 2011	0.28	0.91	1.97
23 December 2011	0.28	0.97	2.03
26 December 2011	ND	ND	ND
27 December 2011	0.30	0.96	2.02
28 December 2011	0.28	0.91	1.93
29 December 2011	0.28	0.88	1.91
30 December 2011	0.25	0.83	1.89
2 January 2012	ND	ND	ND
3 January 2012	0.27	0.89	1.97
4 January 2012	0.25	0.89	2.00
5 January 2012	0.27	0.88	2.02
6 January 2012	0.25	0.86	1.98
9 January 2012	0.26	0.85	1.98
10 January 2012	0.24	0.86	2.00
11 January 2012	0.24	0.82	1.93
12 January 2012	0.22	0.84	1.94
13 January 2012	0.24	0.80	1.89
16 January 2012	ND	ND	ND
17 January 2012	0.21	0.79	1.87
18 January 2012	0.24	0.82	1.92
19 January 2012	0.26	0.87	2.01
20 January 2012	0.26	0.91	2.05
23 January 2012	0.26	0.93	2.09
24 January 2012	0.24	0.92	2.08
25 January 2012	0.22	0.81	2.01
26 January 2012	0.22	0.77	1.96
27 January 2012	0.22	0.75	1.93
30 January 2012	0.22	0.73	1.87
31 January 2012	0.22	0.71	1.83
1 February 2012	0.23	0.72	1.87
2 February 2012	0.23	0.71	1.86
3 February 2012	0.23	0.78	1.97
6 February 2012	0.24	0.76	1.93
7 February 2012	0.25	0.82	2.00
8 February 2012	0.27	0.82	2.01
9 February 2012	0.27	0.86	2.04
10 February 2012	0.27	0.81	1.96
13 February 2012	0.29	0.85	1.99
14 February 2012	0.29	0.81	1.92
15 February 2012	0.29	0.81	1.93
16 February 2012	0.29	0.87	1.99
17 February 2012	0.29	0.88	2.01
20 February 2012	ND	ND	ND
21 February 2012	0.31	0.92	2.05
22 February 2012	0.29	0.88	2.01
23 February 2012	0.31	0.88	1.99
24 February 2012	0.31	0.89	1.98
27 February 2012	0.30	0.84	1.92
28 February 2012	0.30	0.84	1.94
29 February 2012	0.30	0.87	1.98
1 March 2012	0.30	0.89	2.03
2 March 2012	0.28	0.84	1.99
5 March 2012	0.31	0.87	2.00
6 March 2012	0.30	0.83	1.96
7 March 2012	0.30	0.85	1.98
8 March 2012	0.32	0.89	2.03
9 March 2012	0.33	0.90	2.04
12 March 2012	0.33	0.92	2.04
13 March 2012	0.35	0.99	2.14
14 March 2012	0.40	1.13	2.29
15 March 2012	0.37	1.11	2.29
16 March 2012	0.37	1.13	2.31
19 March 2012	0.39	1.20	2.39
20 March 2012	0.41	1.22	2.38
21 March 2012	0.39	1.15	2.31
22 March 2012	0.37	1.13	2.29
23 March 2012	0.37	1.10	2.25
26 March 2012	0.36	1.09	2.26
27 March 2012	0.33	1.04	2.20
28 March 2012	0.34	1.05	2.21
29 March 2012	0.33	1.01	2.18
30 March 2012	0.33	1.04	2.23
2 April 2012	0.33	1.03	2.22
3 April 2012	0.36	1.10	2.30
4 April 2012	0.35	1.05	2.25
5 April 2012	0.35	1.01	2.19
6 April 2012	0.32	0.89	2.07
9 April 2012	0.32	0.90	2.06
10 April 2012	0.28	0.85	2.01
11 April 2012	0.30	0.89	2.05
12 April 2012	0.29	0.90	2.08
13 April 2012	0.27	0.86	2.02
16 April 2012	0.27	0.85	2.00
17 April 2012	0.27	0.88	2.03
18 April 2012	0.27	0.86	2.00
19 April 2012	0.27	0.84	1.98
20 April 2012	0.29	0.86	1.99
23 April 2012	0.27	0.83	1.96
24 April 2012	0.27	0.86	2.00
25 April 2012	0.26	0.86	2.01
26 April 2012	0.26	0.83	1.98
27 April 2012	0.26	0.82	1.96
30 April 2012	0.27	0.82	1.95
1 May 2012	0.27	0.84	1.98
2 May 2012	0.27	0.82	1.96
3 May 2012	0.28	0.82	1.96
4 May 2012	0.27	0.78	1.91
7 May 2012	0.27	0.79	1.92
8 May 2012	0.27	0.77	1.88
9 May 2012	0.27	0.77	1.87
10 May 2012	0.27	0.79	1.89
11 May 2012	0.27	0.75	1.84
14 May 2012	0.29	0.73	1.78
15 May 2012	0.29	0.74	1.76
16 May 2012	0.30	0.75	1.76
17 May 2012	0.32	0.74	1.70
18 May 2012	0.32	0.75	1.71
21 May 2012	0.30	0.75	1.75
22 May 2012	0.30	0.78	1.79
23 May 2012	0.28	0.74	1.73
24 May 2012	0.29	0.77	1.77
25 May 2012	0.30	0.76	1.75
28 May 2012	ND	ND	ND
29 May 2012	0.30	0.76	1.74
30 May 2012	0.27	0.69	1.63
31 May 2012	0.27	0.67	1.59
1 June 2012	0.25	0.62	1.47
4 June 2012	0.25	0.68	1.53
5 June 2012	0.25	0.68	1.57
6 June 2012	0.26	0.73	1.66
7 June 2012	0.27	0.72	1.66
8 June 2012	0.28	0.71	1.65
11 June 2012	0.27	0.69	1.60
12 June 2012	0.30	0.75	1.67
13 June 2012	0.30	0.71	1.61
14 June 2012	0.30	0.73	1.64
15 June 2012	0.29	0.68	1.60
18 June 2012	0.29	0.69	1.59
19 June 2012	0.30	0.71	1.64
20 June 2012	0.32	0.74	1.65
21 June 2012	0.32	0.73	1.63
22 June 2012	0.31	0.76	1.69
25 June 2012	0.31	0.72	1.63
26 June 2012	0.31	0.75	1.66
27 June 2012	0.31	0.73	1.65
28 June 2012	0.31	0.69	1.60
29 June 2012	0.33	0.72	1.67
2 July 2012	0.30	0.67	1.61
3 July 2012	0.30	0.69	1.65
4 July 2012	ND	ND	ND
5 July 2012	0.28	0.68	1.62
6 July 2012	0.27	0.64	1.57
9 July 2012	0.27	0.63	1.53
10 July 2012	0.27	0.63	1.53
11 July 2012	0.27	0.64	1.54
12 July 2012	0.25	0.63	1.50
13 July 2012	0.25	0.63	1.52
16 July 2012	0.24	0.60	1.50
17 July 2012	0.25	0.62	1.53
18 July 2012	0.22	0.60	1.52
19 July 2012	0.22	0.62	1.54
20 July 2012	0.22	0.59	1.49
23 July 2012	0.22	0.57	1.47
24 July 2012	0.22	0.57	1.44
25 July 2012	0.22	0.56	1.43
26 July 2012	0.23	0.58	1.45
27 July 2012	0.25	0.65	1.58
30 July 2012	0.23	0.61	1.53
31 July 2012	0.23	0.60	1.51
1 August 2012	0.24	0.63	1.56
2 August 2012	0.24	0.61	1.51
3 August 2012	0.24	0.67	1.60
6 August 2012	0.24	0.65	1.59
7 August 2012	0.27	0.71	1.66
8 August 2012	0.29	0.73	1.68
9 August 2012	0.29	0.74	1.69
10 August 2012	0.27	0.71	1.65
13 August 2012	0.27	0.71	1.65
14 August 2012	0.27	0.75	1.73
15 August 2012	0.27	0.80	1.80
16 August 2012	0.29	0.83	1.83
17 August 2012	0.29	0.81	1.81
20 August 2012	0.29	0.80	1.82
21 August 2012	0.31	0.80	1.80
22 August 2012	0.26	0.71	1.71
23 August 2012	0.26	0.71	1.68
24 August 2012	0.28	0.72	1.68
27 August 2012	0.28	0.70	1.65
28 August 2012	0.27	0.69	1.64
29 August 2012	0.27	0.69	1.66
30 August 2012	0.27	0.66	1.63
31 August 2012	0.22	0.59	1.57
3 September 2012	ND	ND	ND
4 September 2012	0.23	0.62	1.59
5 September 2012	0.25	0.62	1.60
6 September 2012	0.27	0.68	1.68
7 September 2012	0.25	0.64	1.67
10 September 2012	0.25	0.66	1.68
11 September 2012	0.25	0.67	1.70
12 September 2012	0.25	0.70	1.77
13 September 2012	0.24	0.65	1.75
14 September 2012	0.27	0.72	1.88
17 September 2012	0.25	0.73	1.85
18 September 2012	0.25	0.71	1.82
19 September 2012	0.27	0.70	1.79
20 September 2012	0.27	0.70	1.80
21 September 2012	0.27	0.68	1.77
24 September 2012	0.27	0.68	1.74
25 September 2012	0.27	0.66	1.70
26 September 2012	0.26	0.63	1.64
27 September 2012	0.25	0.64	1.66
28 September 2012	0.23	0.62	1.65
1 October 2012	0.25	0.62	1.64
2 October 2012	0.23	0.61	1.64
3 October 2012	0.23	0.61	1.64
4 October 2012	0.23	0.63	1.70
5 October 2012	0.27	0.67	1.75
8 October 2012	ND	ND	ND
9 October 2012	0.25	0.67	1.74
10 October 2012	0.27	0.66	1.72
11 October 2012	0.28	0.67	1.70
12 October 2012	0.27	0.67	1.69
15 October 2012	0.27	0.67	1.70
16 October 2012	0.27	0.70	1.75
17 October 2012	0.30	0.78	1.83
18 October 2012	0.29	0.79	1.86
19 October 2012	0.30	0.77	1.79
22 October 2012	0.32	0.79	1.83
23 October 2012	0.29	0.77	1.79
24 October 2012	0.29	0.76	1.80
25 October 2012	0.31	0.82	1.86
26 October 2012	0.30	0.76	1.78
29 October 2012	0.30	0.74	1.74
30 October 2012	ND	ND	ND
31 October 2012	0.30	0.72	1.72
1 November 2012	0.30	0.73	1.75
2 November 2012	0.28	0.73	1.75
5 November 2012	0.28	0.70	1.72
6 November 2012	0.30	0.75	1.78
7 November 2012	0.27	0.67	1.68
8 November 2012	0.27	0.65	1.62
9 November 2012	0.27	0.65	1.61
12 November 2012	ND	ND	ND
13 November 2012	0.27	0.63	1.59
14 November 2012	0.25	0.63	1.59
15 November 2012	0.24	0.62	1.58
16 November 2012	0.24	0.62	1.58
19 November 2012	0.25	0.64	1.61
20 November 2012	0.27	0.67	1.66
21 November 2012	0.27	0.69	1.69
22 November 2012	ND	ND	ND
23 November 2012	0.29	0.70	1.70
26 November 2012	0.27	0.68	1.66
27 November 2012	0.27	0.66	1.64
28 November 2012	0.27	0.64	1.63
29 November 2012	0.25	0.63	1.62
30 November 2012	0.25	0.61	1.62
3 December 2012	0.25	0.63	1.63
4 December 2012	0.25	0.63	1.62
5 December 2012	0.25	0.61	1.60
6 December 2012	0.25	0.60	1.59
7 December 2012	0.25	0.63	1.64
10 December 2012	0.24	0.62	1.63
11 December 2012	0.24	0.64	1.66
12 December 2012	0.25	0.66	1.72
13 December 2012	0.27	0.70	1.74
14 December 2012	0.24	0.70	1.72
17 December 2012	0.25	0.74	1.78
18 December 2012	0.28	0.78	1.84
19 December 2012	0.28	0.77	1.82
20 December 2012	0.28	0.77	1.81
21 December 2012	0.26	0.75	1.77
24 December 2012	0.26	0.77	1.79
25 December 2012	ND	ND	ND
26 December 2012	0.26	0.76	1.77
27 December 2012	0.26	0.72	1.74
28 December 2012	0.27	0.72	1.73
31 December 2012	0.25	0.72	1.78
1 January 2013	ND	ND	ND
2 January 2013	0.27	0.76	1.86
3 January 2013	0.27	0.81	1.92
4 January 2013	0.27	0.82	1.93
7 January 2013	0.27	0.82	1.92
8 January 2013	0.25	0.79	1.89
9 January 2013	0.24	0.77	1.88
10 January 2013	0.26	0.80	1.91
11 January 2013	0.26	0.78	1.89
14 January 2013	0.26	0.78	1.89
15 January 2013	0.26	0.75	1.86
16 January 2013	0.26	0.75	1.84
17 January 2013	0.28	0.79	1.89
18 January 2013	0.26	0.77	1.87
21 January 2013	ND	ND	ND
22 January 2013	0.26	0.76	1.86
23 January 2013	0.26	0.76	1.86
24 January 2013	0.23	0.78	1.88
25 January 2013	0.28	0.87	1.98
28 January 2013	0.29	0.89	2.00
29 January 2013	0.30	0.90	2.03
30 January 2013	0.27	0.88	2.03
31 January 2013	0.27	0.88	2.02
1 February 2013	0.27	0.88	2.04
4 February 2013	0.25	0.85	2.00
5 February 2013	0.27	0.88	2.04
6 February 2013	0.27	0.84	2.00
7 February 2013	0.25	0.83	1.99
8 February 2013	0.25	0.84	1.99
11 February 2013	0.27	0.85	1.99
12 February 2013	0.29	0.88	2.02
13 February 2013	0.29	0.92	2.05
14 February 2013	0.27	0.86	2.00
15 February 2013	0.29	0.87	2.01
18 February 2013	ND	ND	ND
19 February 2013	0.29	0.89	2.03
20 February 2013	0.27	0.88	2.02
21 February 2013	0.26	0.86	1.99
22 February 2013	0.27	0.84	1.97
25 February 2013	0.25	0.78	1.88
26 February 2013	0.25	0.78	1.88
27 February 2013	0.27	0.78	1.91
28 February 2013	0.25	0.77	1.89
1 March 2013	0.25	0.75	1.86
4 March 2013	0.24	0.76	1.88
5 March 2013	0.25	0.77	1.90
6 March 2013	0.25	0.81	1.95
7 March 2013	0.25	0.85	2.00
8 March 2013	0.27	0.90	2.06
11 March 2013	0.27	0.90	2.07
12 March 2013	0.27	0.88	2.03
13 March 2013	0.27	0.89	2.04
14 March 2013	0.27	0.88	2.04
15 March 2013	0.25	0.84	2.01
18 March 2013	0.26	0.81	1.96
19 March 2013	0.24	0.79	1.92
20 March 2013	0.26	0.81	1.96
21 March 2013	0.27	0.81	1.95
22 March 2013	0.26	0.80	1.93
25 March 2013	0.24	0.80	1.93
26 March 2013	0.25	0.79	1.92
27 March 2013	0.25	0.76	1.87
28 March 2013	0.25	0.77	1.87
29 March 2013	ND	ND	ND
1 April 2013	0.23	0.76	1.86
2 April 2013	0.25	0.78	1.88
3 April 2013	0.24	0.73	1.83
4 April 2013	0.22	0.69	1.78
5 April 2013	0.24	0.68	1.72
8 April 2013	0.24	0.71	1.76
9 April 2013	0.24	0.70	1.78
10 April 2013	0.24	0.74	1.84
11 April 2013	0.24	0.74	1.82
12 April 2013	0.22	0.70	1.75
15 April 2013	0.22	0.69	1.72
16 April 2013	0.24	0.71	1.75
17 April 2013	0.24	0.71	1.73
18 April 2013	0.24	0.71	1.72
19 April 2013	0.24	0.72	1.73
22 April 2013	0.24	0.70	1.72
23 April 2013	0.23	0.71	1.74
24 April 2013	0.23	0.70	1.73
25 April 2013	0.23	0.71	1.74
26 April 2013	0.22	0.68	1.70
29 April 2013	0.20	0.68	1.70
30 April 2013	0.22	0.68	1.70
1 May 2013	0.20	0.65	1.66
2 May 2013	0.20	0.65	1.66
3 May 2013	0.22	0.73	1.78
6 May 2013	0.22	0.74	1.80
7 May 2013	0.22	0.75	1.82
8 May 2013	0.22	0.75	1.81
9 May 2013	0.22	0.75	1.81
10 May 2013	0.26	0.82	1.90
13 May 2013	0.24	0.83	1.92
14 May 2013	0.26	0.85	1.96
15 May 2013	0.26	0.84	1.94
16 May 2013	0.23	0.79	1.87
17 May 2013	0.26	0.84	1.95
20 May 2013	0.26	0.85	1.97
21 May 2013	0.26	0.84	1.94
22 May 2013	0.26	0.91	2.03
23 May 2013	0.26	0.91	2.02
24 May 2013	0.26	0.90	2.01
27 May 2013	ND	ND	ND
28 May 2013	0.29	1.02	2.15
29 May 2013	0.30	1.02	2.13
30 May 2013	0.31	1.01	2.13
31 May 2013	0.30	1.05	2.16
3 June 2013	0.30	1.03	2.13
4 June 2013	0.32	1.05	2.14
5 June 2013	0.30	1.02	2.10
6 June 2013	0.30	1.01	2.08
7 June 2013	0.32	1.10	2.17
10 June 2013	0.32	1.13	2.22
11 June 2013	0.34	1.12	2.20
12 June 2013	0.34	1.15	2.25
13 June 2013	0.32	1.11	2.19
14 June 2013	0.29	1.04	2.14
17 June 2013	0.27	1.06	2.19
18 June 2013	0.27	1.07	2.20
19 June 2013	0.31	1.24	2.33
20 June 2013	0.33	1.31	2.41
21 June 2013	0.38	1.42	2.52
24 June 2013	0.42	1.48	2.57
25 June 2013	0.43	1.49	2.60
26 June 2013	0.39	1.45	2.55
27 June 2013	0.36	1.38	2.49
28 June 2013	0.36	1.41	2.52
1 July 2013	0.34	1.39	2.50
2 July 2013	0.34	1.38	2.48
3 July 2013	0.36	1.42	2.52
4 July 2013	ND	ND	ND
5 July 2013	0.40	1.60	2.73
8 July 2013	0.37	1.51	2.65
9 July 2013	0.37	1.50	2.65
10 July 2013	0.38	1.54	2.70
11 July 2013	0.34	1.40	2.60
12 July 2013	0.37	1.43	2.61
15 July 2013	0.34	1.40	2.57
16 July 2013	0.34	1.38	2.55
17 July 2013	0.32	1.33	2.52
18 July 2013	0.32	1.35	2.56
19 July 2013	0.32	1.31	2.50
22 July 2013	0.32	1.32	2.50
23 July 2013	0.33	1.33	2.53
24 July 2013	0.34	1.40	2.61
25 July 2013	0.32	1.38	2.61
26 July 2013	0.31	1.36	2.58
29 July 2013	0.33	1.37	2.61
30 July 2013	0.33	1.39	2.63
31 July 2013	0.31	1.38	2.60
1 August 2013	0.35	1.49	2.74
2 August 2013	0.30	1.36	2.63
5 August 2013	0.32	1.39	2.67
6 August 2013	0.32	1.39	2.67
7 August 2013	0.32	1.38	2.61
8 August 2013	0.30	1.36	2.58
9 August 2013	0.32	1.36	2.57
12 August 2013	0.32	1.39	2.61
13 August 2013	0.34	1.49	2.71
14 August 2013	0.34	1.48	2.71
15 August 2013	0.36	1.54	2.77
16 August 2013	0.36	1.60	2.84
19 August 2013	0.36	1.63	2.88
20 August 2013	0.36	1.57	2.82
21 August 2013	0.38	1.64	2.87
22 August 2013	0.42	1.71	2.90
23 August 2013	0.40	1.66	2.82
26 August 2013	0.41	1.61	2.79
27 August 2013	0.38	1.56	2.72
28 August 2013	0.40	1.62	2.78
29 August 2013	0.39	1.60	2.75
30 August 2013	0.39	1.62	2.78
2 September 2013	ND	ND	ND
3 September 2013	0.43	1.68	2.86
4 September 2013	0.46	1.74	2.90
5 September 2013	0.52	1.85	2.98
6 September 2013	0.46	1.77	2.94
9 September 2013	0.45	1.71	2.90
10 September 2013	0.50	1.78	2.96
11 September 2013	0.47	1.72	2.93
12 September 2013	0.45	1.72	2.92
13 September 2013	0.45	1.71	2.90
16 September 2013	0.41	1.65	2.88
17 September 2013	0.39	1.62	2.86
18 September 2013	0.34	1.43	2.69
19 September 2013	0.34	1.49	2.76
20 September 2013	0.34	1.50	2.75
23 September 2013	0.35	1.48	2.72
24 September 2013	0.35	1.44	2.67
25 September 2013	0.36	1.41	2.63
26 September 2013	0.34	1.43	2.66
27 September 2013	0.34	1.40	2.64
30 September 2013	0.33	1.39	2.64
1 October 2013	0.33	1.42	2.66
2 October 2013	0.31	1.38	2.63
3 October 2013	0.33	1.36	2.62
4 October 2013	0.33	1.41	2.66
7 October 2013	0.37	1.41	2.65
8 October 2013	0.40	1.43	2.66
9 October 2013	0.37	1.43	2.68
10 October 2013	0.35	1.44	2.71
11 October 2013	0.35	1.42	2.70
14 October 2013	ND	ND	ND
15 October 2013	0.37	1.45	2.75
16 October 2013	0.34	1.41	2.69
17 October 2013	0.33	1.35	2.61
18 October 2013	0.33	1.35	2.60
21 October 2013	0.33	1.38	2.63
22 October 2013	0.31	1.30	2.54
23 October 2013	0.31	1.30	2.51
24 October 2013	0.33	1.32	2.53
25 October 2013	0.32	1.30	2.53
28 October 2013	0.32	1.31	2.54
29 October 2013	0.31	1.29	2.53
30 October 2013	0.33	1.30	2.55
31 October 2013	0.31	1.31	2.57
1 November 2013	0.33	1.37	2.65
4 November 2013	0.32	1.36	2.63
5 November 2013	0.32	1.39	2.69
6 November 2013	0.30	1.34	2.67
7 November 2013	0.29	1.31	2.63
8 November 2013	0.32	1.42	2.77
11 November 2013	ND	ND	ND
12 November 2013	0.34	1.47	2.80
13 November 2013	0.32	1.41	2.75
14 November 2013	0.29	1.34	2.69
15 November 2013	0.31	1.36	2.71
18 November 2013	0.31	1.33	2.67
19 November 2013	0.29	1.37	2.71
20 November 2013	0.28	1.39	2.80
21 November 2013	0.29	1.38	2.79
22 November 2013	0.31	1.37	2.75
25 November 2013	0.30	1.37	2.74
26 November 2013	0.29	1.34	2.71
27 November 2013	0.28	1.36	2.74
28 November 2013	ND	ND	ND
29 November 2013	0.28	1.37	2.75
2 December 2013	0.30	1.43	2.81
3 December 2013	0.28	1.40	2.79
4 December 2013	0.30	1.45	2.84
5 December 2013	0.30	1.49	2.88
6 December 2013	0.30	1.51	2.88
9 December 2013	0.30	1.50	2.86
10 December 2013	0.30	1.46	2.81
11 December 2013	0.31	1.50	2.86
12 December 2013	0.34	1.55	2.89
13 December 2013	0.34	1.55	2.88
16 December 2013	0.34	1.55	2.89
17 December 2013	0.34	1.52	2.85
18 December 2013	0.32	1.55	2.89
19 December 2013	0.35	1.63	2.94
20 December 2013	0.37	1.66	2.89
23 December 2013	0.38	1.68	2.94
24 December 2013	0.38	1.73	2.99
25 December 2013	ND	ND	ND
26 December 2013	0.42	1.74	3.00
27 December 2013	0.40	1.74	3.02
30 December 2013	0.39	1.71	2.99
31 December 2013	0.38	1.75	3.04
1 January 2014	ND	ND	ND
2 January 2014	0.39	1.72	3.00
3 January 2014	0.41	1.73	3.01
6 January 2014	0.40	1.70	2.98
7 January 2014	0.40	1.69	2.96
8 January 2014	0.43	1.77	3.01
9 January 2014	0.44	1.75	2.97
10 January 2014	0.39	1.64	2.88
13 January 2014	0.39	1.60	2.84
14 January 2014	0.39	1.65	2.88
15 January 2014	0.41	1.68	2.90
16 January 2014	0.41	1.66	2.86
17 January 2014	0.40	1.64	2.84
20 January 2014	ND	ND	ND
21 January 2014	0.40	1.67	2.85
22 January 2014	0.44	1.72	2.87
23 January 2014	0.39	1.62	2.79
24 January 2014	0.37	1.58	2.75
27 January 2014	0.37	1.61	2.78
28 January 2014	0.38	1.59	2.77
29 January 2014	0.36	1.52	2.69
30 January 2014	0.36	1.55	2.72
31 January 2014	0.34	1.49	2.67
3 February 2014	0.30	1.44	2.61
4 February 2014	0.31	1.46	2.64
5 February 2014	0.32	1.50	2.70
6 February 2014	0.33	1.52	2.73
7 February 2014	0.30	1.47	2.71
10 February 2014	0.32	1.48	2.70
11 February 2014	0.35	1.54	2.75
12 February 2014	0.35	1.59	2.80
13 February 2014	0.32	1.51	2.73
14 February 2014	0.32	1.53	2.75
17 February 2014	ND	ND	ND
18 February 2014	0.31	1.50	2.71
19 February 2014	0.33	1.53	2.73
20 February 2014	0.34	1.57	2.76
21 February 2014	0.33	1.56	2.73
24 February 2014	0.35	1.57	2.75
25 February 2014	0.34	1.53	2.70
26 February 2014	0.33	1.50	2.67
27 February 2014	0.33	1.49	2.65
28 February 2014	0.33	1.51	2.66
3 March 2014	0.32	1.46	2.60
4 March 2014	0.33	1.54	2.70
5 March 2014	0.33	1.54	2.70
6 March 2014	0.37	1.57	2.74
7 March 2014	0.38	1.65	2.80
10 March 2014	0.37	1.64	2.79
11 March 2014	0.37	1.62	2.77
12 March 2014	0.37	1.59	2.73
13 March 2014	0.34	1.53	2.66
14 March 2014	0.36	1.55	2.65
17 March 2014	0.38	1.58	2.70
18 March 2014	0.36	1.56	2.68
19 March 2014	0.47	1.75	2.78
20 March 2014	0.45	1.73	2.79
21 March 2014	0.45	1.73	2.75
24 March 2014	0.47	1.76	2.74
25 March 2014	0.47	1.76	2.75
26 March 2014	0.45	1.70	2.71
27 March 2014	0.45	1.70	2.69
28 March 2014	0.45	1.74	2.73
31 March 2014	0.44	1.73	2.73
1 April 2014	0.44	1.74	2.77
2 April 2014	0.47	1.80	2.82
3 April 2014	0.46	1.79	2.80
4 April 2014	0.43	1.71	2.74
7 April 2014	0.41	1.68	2.71
8 April 2014	0.40	1.67	2.69
9 April 2014	0.37	1.65	2.71
10 April 2014	0.37	1.59	2.65
11 April 2014	0.37	1.58	2.63
14 April 2014	0.37	1.61	2.65
15 April 2014	0.39	1.63	2.64
16 April 2014	0.39	1.67	2.65
17 April 2014	0.43	1.75	2.73
18 April 2014	ND	ND	ND
21 April 2014	0.42	1.74	2.73
22 April 2014	0.45	1.76	2.73
23 April 2014	0.43	1.73	2.70
24 April 2014	0.43	1.74	2.70
25 April 2014	0.43	1.72	2.68
28 April 2014	0.44	1.73	2.70
29 April 2014	0.44	1.74	2.71
30 April 2014	0.42	1.69	2.67
1 May 2014	0.41	1.66	2.63
2 May 2014	0.42	1.67	2.60
5 May 2014	0.43	1.68	2.63
6 May 2014	0.43	1.68	2.61
7 May 2014	0.41	1.65	2.62
8 May 2014	0.40	1.63	2.61
9 May 2014	0.40	1.63	2.62
12 May 2014	0.41	1.67	2.66
13 May 2014	0.39	1.62	2.61
14 May 2014	0.39	1.57	2.54
15 May 2014	0.38	1.55	2.50
16 May 2014	0.38	1.56	2.52
19 May 2014	0.36	1.56	2.54
20 May 2014	0.35	1.53	2.52
21 May 2014	0.37	1.55	2.54
22 May 2014	0.37	1.57	2.56
23 May 2014	0.37	1.55	2.54
26 May 2014	ND	ND	ND
27 May 2014	0.39	1.56	2.52
28 May 2014	0.37	1.50	2.44
29 May 2014	0.37	1.52	2.45
30 May 2014	0.37	1.54	2.48
2 June 2014	0.39	1.60	2.54
3 June 2014	0.41	1.65	2.60
4 June 2014	0.41	1.65	2.61
5 June 2014	0.40	1.63	2.59
6 June 2014	0.41	1.66	2.60
9 June 2014	0.43	1.69	2.62
10 June 2014	0.45	1.71	2.64
11 June 2014	0.44	1.70	2.65
12 June 2014	0.42	1.66	2.58
13 June 2014	0.45	1.70	2.60
16 June 2014	0.49	1.71	2.61
17 June 2014	0.51	1.77	2.66
18 June 2014	0.48	1.71	2.61
19 June 2014	0.48	1.71	2.64
20 June 2014	0.50	1.71	2.63
23 June 2014	0.48	1.72	2.63
24 June 2014	0.49	1.70	2.59
25 June 2014	0.48	1.68	2.57
26 June 2014	0.46	1.64	2.53
27 June 2014	0.45	1.64	2.54
30 June 2014	0.47	1.62	2.53
1 July 2014	0.47	1.66	2.58
2 July 2014	0.49	1.71	2.64
3 July 2014	0.52	1.74	2.65
4 July 2014	ND	ND	ND
7 July 2014	0.52	1.74	2.63
8 July 2014	0.51	1.70	2.58
9 July 2014	0.51	1.68	2.57
10 July 2014	0.46	1.66	2.55
11 July 2014	0.48	1.65	2.53
14 July 2014	0.48	1.68	2.55
15 July 2014	0.49	1.70	2.56
16 July 2014	0.50	1.71	2.55
17 July 2014	0.47	1.65	2.47
18 July 2014	0.51	1.69	2.50
21 July 2014	0.51	1.70	2.49
22 July 2014	0.49	1.68	2.48
23 July 2014	0.50	1.67	2.48
24 July 2014	0.53	1.72	2.52
25 July 2014	0.53	1.69	2.48
28 July 2014	0.54	1.73	2.50
29 July 2014	0.54	1.70	2.47
30 July 2014	0.56	1.77	2.57
31 July 2014	0.53	1.76	2.58
1 August 2014	0.47	1.67	2.52
4 August 2014	0.47	1.66	2.51
5 August 2014	0.47	1.66	2.49
6 August 2014	0.48	1.66	2.49
7 August 2014	0.44	1.60	2.43
8 August 2014	0.45	1.62	2.44
11 August 2014	0.47	1.62	2.44
12 August 2014	0.45	1.63	2.46
13 August 2014	0.43	1.59	2.43
14 August 2014	0.42	1.58	2.40
15 August 2014	0.42	1.55	2.34
18 August 2014	0.44	1.58	2.39
19 August 2014	0.46	1.59	2.40
20 August 2014	0.49	1.65	2.43
21 August 2014	0.49	1.64	2.41
22 August 2014	0.53	1.68	2.40
25 August 2014	0.53	1.69	2.39
26 August 2014	0.52	1.68	2.39
27 August 2014	0.51	1.65	2.37
28 August 2014	0.50	1.63	2.34
29 August 2014	0.48	1.63	2.35
1 September 2014	ND	ND	ND
2 September 2014	0.53	1.69	2.42
3 September 2014	0.52	1.69	2.41
4 September 2014	0.54	1.71	2.45
5 September 2014	0.52	1.69	2.46
8 September 2014	0.54	1.72	2.48
9 September 2014	0.56	1.76	2.50
10 September 2014	0.58	1.79	2.54
11 September 2014	0.58	1.79	2.54
12 September 2014	0.58	1.83	2.62
15 September 2014	0.58	1.80	2.60
16 September 2014	0.55	1.78	2.60
17 September 2014	0.59	1.82	2.62
18 September 2014	0.59	1.85	2.63
19 September 2014	0.59	1.83	2.59
22 September 2014	0.58	1.80	2.57
23 September 2014	0.57	1.78	2.54
24 September 2014	0.59	1.82	2.57
25 September 2014	0.56	1.75	2.52
26 September 2014	0.59	1.80	2.54
29 September 2014	0.58	1.77	2.50
30 September 2014	0.58	1.78	2.52
1 October 2014	0.53	1.69	2.42
2 October 2014	0.53	1.70	2.44
3 October 2014	0.57	1.73	2.45
6 October 2014	0.54	1.70	2.43
7 October 2014	0.52	1.64	2.36
8 October 2014	0.46	1.57	2.35
9 October 2014	0.46	1.58	2.34
10 October 2014	0.45	1.55	2.31
13 October 2014	ND	ND	ND
14 October 2014	0.39	1.45	2.21
15 October 2014	0.34	1.37	2.15
16 October 2014	0.35	1.39	2.17
17 October 2014	0.39	1.44	2.22
20 October 2014	0.37	1.41	2.20
21 October 2014	0.38	1.44	2.23
22 October 2014	0.41	1.46	2.25
23 October 2014	0.41	1.52	2.29
24 October 2014	0.41	1.52	2.29
27 October 2014	0.41	1.51	2.27
28 October 2014	0.42	1.53	2.30
29 October 2014	0.48	1.61	2.34
30 October 2014	0.48	1.58	2.32
31 October 2014	0.50	1.62	2.35
3 November 2014	0.52	1.63	2.36
4 November 2014	0.52	1.63	2.35
5 November 2014	0.52	1.63	2.36
6 November 2014	0.54	1.67	2.39
7 November 2014	0.51	1.60	2.32
10 November 2014	0.55	1.65	2.38
11 November 2014	ND	ND	ND
12 November 2014	0.55	1.65	2.37
13 November 2014	0.53	1.64	2.35
14 November 2014	0.54	1.62	2.32
17 November 2014	0.54	1.64	2.34
18 November 2014	0.53	1.63	2.32
19 November 2014	0.54	1.66	2.36
20 November 2014	0.53	1.64	2.34
21 November 2014	0.53	1.63	2.31
24 November 2014	0.53	1.62	2.30
25 November 2014	0.51	1.58	2.27
26 November 2014	0.53	1.56	2.24
27 November 2014	ND	ND	ND
28 November 2014	0.47	1.49	2.18
1 December 2014	0.49	1.52	2.22
2 December 2014	0.55	1.59	2.28
3 December 2014	0.57	1.61	2.29
4 December 2014	0.55	1.59	2.25
5 December 2014	0.65	1.69	2.31
8 December 2014	0.64	1.67	2.26
9 December 2014	0.64	1.63	2.22
10 December 2014	0.59	1.58	2.18
11 December 2014	0.62	1.62	2.19
12 December 2014	0.56	1.53	2.10
15 December 2014	0.60	1.58	2.12
16 December 2014	0.58	1.53	2.07
17 December 2014	0.62	1.61	2.14
18 December 2014	0.67	1.68	2.22
19 December 2014	0.67	1.66	2.17
22 December 2014	0.71	1.67	2.17
23 December 2014	0.73	1.76	2.26
24 December 2014	0.73	1.76	2.27
25 December 2014	ND	ND	ND
26 December 2014	0.73	1.75	2.25
29 December 2014	0.72	1.72	2.22
30 December 2014	0.69	1.68	2.20
31 December 2014	0.67	1.65	2.17
1 January 2015	ND	ND	ND
2 January 2015	0.66	1.61	2.12
5 January 2015	0.68	1.57	2.04
6 January 2015	0.65	1.50	1.97
7 January 2015	0.62	1.47	1.96
8 January 2015	0.62	1.50	2.03
9 January 2015	0.59	1.45	1.98
12 January 2015	0.56	1.39	1.92
13 January 2015	0.54	1.37	1.91
14 January 2015	0.51	1.33	1.86
15 January 2015	0.44	1.22	1.77
16 January 2015	0.49	1.29	1.83
19 January 2015	ND	ND	ND
20 January 2015	0.53	1.31	1.82
21 January 2015	0.53	1.35	1.87
22 January 2015	0.53	1.39	1.90
23 January 2015	0.52	1.33	1.81
26 January 2015	0.54	1.36	1.83
27 January 2015	0.54	1.34	1.83
28 January 2015	0.50	1.25	1.73
29 January 2015	0.51	1.28	1.77
30 January 2015	0.47	1.18	1.68
2 February 2015	0.49	1.19	1.68
3 February 2015	0.52	1.28	1.79
4 February 2015	0.52	1.29	1.81
5 February 2015	0.52	1.30	1.83
6 February 2015	0.65	1.48	1.95
9 February 2015	0.65	1.49	1.96
10 February 2015	0.67	1.52	2.01
11 February 2015	0.67	1.53	2.00
12 February 2015	0.61	1.50	1.99
13 February 2015	0.66	1.53	2.02
16 February 2015	ND	ND	ND
17 February 2015	0.70	1.62	2.14
18 February 2015	0.62	1.52	2.07
19 February 2015	0.67	1.58	2.11
20 February 2015	0.67	1.61	2.13
23 February 2015	0.64	1.56	2.06
24 February 2015	0.60	1.47	1.99
25 February 2015	0.61	1.47	1.96
26 February 2015	0.66	1.54	2.03
27 February 2015	0.63	1.50	2.00
2 March 2015	0.66	1.57	2.08
3 March 2015	0.68	1.61	2.12
4 March 2015	0.66	1.60	2.12
5 March 2015	0.65	1.57	2.11
6 March 2015	0.73	1.70	2.24
9 March 2015	0.70	1.66	2.20
10 March 2015	0.70	1.62	2.14
11 March 2015	0.70	1.60	2.11
12 March 2015	0.67	1.59	2.10
13 March 2015	0.68	1.60	2.13
16 March 2015	0.66	1.57	2.10
17 March 2015	0.70	1.56	2.06
18 March 2015	0.57	1.41	1.93
19 March 2015	0.63	1.48	1.98
20 March 2015	0.60	1.42	1.93
23 March 2015	0.60	1.41	1.92
24 March 2015	0.58	1.37	1.88
25 March 2015	0.59	1.41	1.93
26 March 2015	0.61	1.47	2.01
27 March 2015	0.58	1.42	1.95
30 March 2015	0.58	1.41	1.96
31 March 2015	0.56	1.37	1.94
1 April 2015	0.55	1.32	1.87
2 April 2015	0.55	1.35	1.92
3 April 2015	0.49	1.26	1.85
6 April 2015	0.51	1.31	1.92
7 April 2015	0.52	1.32	1.89
8 April 2015	0.54	1.35	1.92
9 April 2015	0.56	1.40	1.97
10 April 2015	0.57	1.41	1.96
13 April 2015	0.54	1.38	1.94
14 April 2015	0.53	1.34	1.90
15 April 2015	0.51	1.33	1.91
16 April 2015	0.50	1.31	1.90
17 April 2015	0.51	1.31	1.87
20 April 2015	0.55	1.33	1.90
21 April 2015	0.55	1.35	1.92
22 April 2015	0.57	1.41	1.99
23 April 2015	0.55	1.37	1.96
24 April 2015	0.54	1.34	1.93
27 April 2015	0.54	1.36	1.94
28 April 2015	0.56	1.39	2.00
29 April 2015	0.56	1.43	2.06
30 April 2015	0.58	1.43	2.05
1 May 2015	0.60	1.50	2.12
4 May 2015	0.60	1.51	2.16
5 May 2015	0.62	1.54	2.19
6 May 2015	0.65	1.58	2.25
7 May 2015	0.63	1.55	2.18
8 May 2015	0.59	1.50	2.16
11 May 2015	0.62	1.59	2.28
12 May 2015	0.61	1.58	2.28
13 May 2015	0.59	1.57	2.27
14 May 2015	0.56	1.51	2.23
15 May 2015	0.55	1.46	2.14
18 May 2015	0.58	1.54	2.23
19 May 2015	0.63	1.60	2.27
20 May 2015	0.60	1.57	2.26
21 May 2015	0.60	1.53	2.19
22 May 2015	0.64	1.57	2.21
25 May 2015	ND	ND	ND
26 May 2015	0.64	1.54	2.14
27 May 2015	0.64	1.53	2.14
28 May 2015	0.62	1.51	2.13
29 May 2015	0.61	1.49	2.12
1 June 2015	0.64	1.55	2.19
2 June 2015	0.64	1.61	2.27
3 June 2015	0.69	1.69	2.38
4 June 2015	0.66	1.65	2.31
5 June 2015	0.73	1.75	2.41
8 June 2015	0.70	1.72	2.39
9 June 2015	0.72	1.74	2.42
10 June 2015	0.75	1.80	2.50
11 June 2015	0.73	1.74	2.39
12 June 2015	0.74	1.75	2.39
15 June 2015	0.72	1.71	2.36
16 June 2015	0.71	1.68	2.32
17 June 2015	0.67	1.63	2.32
18 June 2015	0.66	1.65	2.35
19 June 2015	0.65	1.59	2.26
22 June 2015	0.68	1.68	2.37
23 June 2015	0.70	1.71	2.42
24 June 2015	0.68	1.69	2.38
25 June 2015	0.68	1.70	2.40
26 June 2015	0.72	1.75	2.49
29 June 2015	0.64	1.62	2.33
30 June 2015	0.64	1.63	2.35
1 July 2015	0.69	1.70	2.43
2 July 2015	0.64	1.64	2.40
3 July 2015	ND	ND	ND
6 July 2015	0.60	1.56	2.30
7 July 2015	0.58	1.55	2.27
8 July 2015	0.55	1.50	2.22
9 July 2015	0.60	1.58	2.32
10 July 2015	0.65	1.68	2.42
13 July 2015	0.69	1.71	2.44
14 July 2015	0.66	1.67	2.41
15 July 2015	0.64	1.63	2.36
16 July 2015	0.67	1.66	2.36
17 July 2015	0.68	1.67	2.34
20 July 2015	0.71	1.72	2.38
21 July 2015	0.71	1.69	2.35
22 July 2015	0.75	1.69	2.33
23 July 2015	0.71	1.65	2.28
24 July 2015	0.70	1.64	2.27
27 July 2015	0.68	1.58	2.23
28 July 2015	0.69	1.61	2.26
29 July 2015	0.70	1.62	2.29
30 July 2015	0.72	1.62	2.28
31 July 2015	0.67	1.54	2.20
3 August 2015	0.68	1.52	2.16
4 August 2015	0.74	1.60	2.23
5 August 2015	0.73	1.65	2.28
6 August 2015	0.71	1.62	2.23
7 August 2015	0.73	1.59	2.18
10 August 2015	0.73	1.62	2.24
11 August 2015	0.68	1.53	2.15
12 August 2015	0.67	1.52	2.14
13 August 2015	0.72	1.58	2.19
14 August 2015	0.73	1.61	2.20
17 August 2015	0.72	1.58	2.16
18 August 2015	0.74	1.60	2.20
19 August 2015	0.67	1.50	2.12
20 August 2015	0.69	1.50	2.09
21 August 2015	0.64	1.44	2.05
24 August 2015	0.59	1.39	2.01
25 August 2015	0.67	1.48	2.12
26 August 2015	0.67	1.49	2.18
27 August 2015	0.68	1.49	2.18
28 August 2015	0.72	1.52	2.19
31 August 2015	0.74	1.54	2.21
1 September 2015	0.70	1.49	2.17
2 September 2015	0.72	1.52	2.20
3 September 2015	0.71	1.49	2.18
4 September 2015	0.71	1.47	2.13
7 September 2015	ND	ND	ND
8 September 2015	0.74	1.53	2.20
9 September 2015	0.75	1.53	2.21
10 September 2015	0.75	1.55	2.23
11 September 2015	0.71	1.52	2.20
14 September 2015	0.73	1.51	2.18
15 September 2015	0.82	1.61	2.28
16 September 2015	0.82	1.62	2.30
17 September 2015	0.70	1.50	2.21
18 September 2015	0.69	1.45	2.13
21 September 2015	0.72	1.51	2.20
22 September 2015	0.69	1.44	2.14
23 September 2015	0.70	1.47	2.16
24 September 2015	0.67	1.44	2.13
25 September 2015	0.70	1.48	2.17
28 September 2015	0.67	1.42	2.10
29 September 2015	0.64	1.37	2.05
30 September 2015	0.64	1.37	2.06
1 October 2015	0.64	1.37	2.05
2 October 2015	0.58	1.29	1.99
5 October 2015	0.61	1.35	2.07
6 October 2015	0.61	1.34	2.05
7 October 2015	0.65	1.37	2.08
8 October 2015	0.65	1.40	2.12
9 October 2015	0.65	1.41	2.12
12 October 2015	ND	ND	ND
13 October 2015	0.64	1.36	2.06
14 October 2015	0.57	1.29	1.99
15 October 2015	0.61	1.34	2.04
16 October 2015	0.61	1.36	2.04
19 October 2015	0.61	1.35	2.04
20 October 2015	0.66	1.40	2.08
21 October 2015	0.64	1.37	2.04
22 October 2015	0.61	1.36	2.04
23 October 2015	0.66	1.43	2.09
26 October 2015	0.66	1.41	2.07
27 October 2015	0.65	1.38	2.05
28 October 2015	0.73	1.47	2.10
29 October 2015	0.75	1.53	2.19
30 October 2015	0.75	1.52	2.16
2 November 2015	0.77	1.57	2.20
3 November 2015	0.80	1.59	2.23
4 November 2015	0.84	1.64	2.25
5 November 2015	0.85	1.65	2.26
6 November 2015	0.90	1.73	2.34
9 November 2015	0.89	1.75	2.36
10 November 2015	0.87	1.72	2.32
11 November 2015	ND	ND	ND
12 November 2015	0.89	1.73	2.32
13 November 2015	0.86	1.67	2.28
16 November 2015	0.88	1.66	2.27
17 November 2015	0.86	1.66	2.25
18 November 2015	0.90	1.69	2.27
19 November 2015	0.91	1.68	2.24
20 November 2015	0.93	1.70	2.26
23 November 2015	0.94	1.70	2.25
24 November 2015	0.93	1.66	2.24
25 November 2015	0.93	1.66	2.23
26 November 2015	ND	ND	ND
27 November 2015	0.92	1.64	2.22
30 November 2015	0.94	1.65	2.21
1 December 2015	0.91	1.59	2.15
2 December 2015	0.94	1.63	2.18
3 December 2015	0.96	1.74	2.33
4 December 2015	0.96	1.71	2.28
7 December 2015	0.94	1.67	2.23
8 December 2015	0.94	1.68	2.24
9 December 2015	0.93	1.64	2.22
10 December 2015	0.95	1.68	2.24
11 December 2015	0.88	1.56	2.13
14 December 2015	0.97	1.66	2.23
15 December 2015	0.98	1.71	2.28
16 December 2015	1.02	1.75	2.30
17 December 2015	1.00	1.73	2.24
18 December 2015	0.97	1.67	2.19
21 December 2015	0.96	1.67	2.20
22 December 2015	0.99	1.71	2.24
23 December 2015	1.01	1.74	2.27
24 December 2015	1.03	1.73	2.25
25 December 2015	ND	ND	ND
28 December 2015	1.05	1.73	2.24
29 December 2015	1.09	1.81	2.32
30 December 2015	1.08	1.80	2.31
31 December 2015	1.06	1.76	2.27
1 January 2016	ND	ND	ND
4 January 2016	1.02	1.73	2.24
5 January 2016	1.04	1.73	2.25
6 January 2016	0.99	1.65	2.18
7 January 2016	0.96	1.61	2.16
8 January 2016	0.94	1.57	2.13
11 January 2016	0.94	1.58	2.17
12 January 2016	0.93	1.55	2.12
13 January 2016	0.91	1.51	2.08
14 January 2016	0.90	1.52	2.10
15 January 2016	0.85	1.46	2.03
18 January 2016	ND	ND	ND
19 January 2016	0.88	1.49	2.06
20 January 2016	0.85	1.44	2.01
21 January 2016	0.84	1.44	2.02
22 January 2016	0.88	1.49	2.07
25 January 2016	0.88	1.47	2.03
26 January 2016	0.85	1.45	2.01
27 January 2016	0.84	1.43	2.02
28 January 2016	0.83	1.40	2.00
29 January 2016	0.76	1.33	1.94
1 February 2016	0.81	1.38	1.97
2 February 2016	0.75	1.28	1.87
3 February 2016	0.72	1.27	1.88
4 February 2016	0.70	1.25	1.87
5 February 2016	0.74	1.25	1.86
8 February 2016	0.66	1.16	1.75
9 February 2016	0.69	1.15	1.74
10 February 2016	0.71	1.15	1.71
11 February 2016	0.64	1.11	1.63
12 February 2016	0.71	1.20	1.74
15 February 2016	ND	ND	ND
16 February 2016	0.74	1.23	1.78
17 February 2016	0.74	1.26	1.81
18 February 2016	0.71	1.21	1.75
19 February 2016	0.76	1.24	1.76
22 February 2016	0.78	1.25	1.77
23 February 2016	0.76	1.23	1.74
24 February 2016	0.75	1.21	1.75
25 February 2016	0.72	1.16	1.71
26 February 2016	0.80	1.23	1.76
29 February 2016	0.78	1.22	1.74
1 March 2016	0.85	1.31	1.83
2 March 2016	0.85	1.34	1.84
3 March 2016	0.85	1.33	1.83
4 March 2016	0.88	1.38	1.88
7 March 2016	0.91	1.42	1.91
8 March 2016	0.88	1.34	1.83
9 March 2016	0.90	1.39	1.90
10 March 2016	0.93	1.45	1.93
11 March 2016	0.97	1.49	1.98
14 March 2016	0.97	1.49	1.97
15 March 2016	0.98	1.50	1.97
16 March 2016	0.87	1.41	1.94
17 March 2016	0.87	1.39	1.91
18 March 2016	0.84	1.34	1.88
21 March 2016	0.87	1.38	1.92
22 March 2016	0.91	1.42	1.94
23 March 2016	0.87	1.37	1.88
24 March 2016	0.89	1.39	1.91
25 March 2016	ND	ND	ND
28 March 2016	0.89	1.37	1.89
29 March 2016	0.78	1.29	1.81
30 March 2016	0.76	1.26	1.83
31 March 2016	0.73	1.21	1.78
1 April 2016	0.76	1.24	1.79
4 April 2016	0.75	1.22	1.78
5 April 2016	0.72	1.17	1.73
6 April 2016	0.73	1.20	1.76
7 April 2016	0.70	1.14	1.70
8 April 2016	0.70	1.16	1.72
11 April 2016	0.70	1.16	1.73
12 April 2016	0.74	1.22	1.79
13 April 2016	0.75	1.22	1.77
14 April 2016	0.77	1.26	1.80
15 April 2016	0.74	1.22	1.76
18 April 2016	0.75	1.24	1.78
19 April 2016	0.77	1.26	1.79
20 April 2016	0.80	1.32	1.85
21 April 2016	0.82	1.35	1.88
22 April 2016	0.84	1.37	1.89
25 April 2016	0.85	1.38	1.91
26 April 2016	0.86	1.40	1.94
27 April 2016	0.83	1.33	1.87
28 April 2016	0.78	1.28	1.84
29 April 2016	0.77	1.28	1.83
2 May 2016	0.80	1.32	1.88
3 May 2016	0.75	1.25	1.81
4 May 2016	0.75	1.23	1.79
5 May 2016	0.72	1.20	1.76
6 May 2016	0.74	1.23	1.79
9 May 2016	0.72	1.20	1.77
10 May 2016	0.72	1.20	1.77
11 May 2016	0.74	1.20	1.73
12 May 2016	0.76	1.24	1.75
13 May 2016	0.76	1.22	1.71
16 May 2016	0.79	1.26	1.75
17 May 2016	0.82	1.29	1.76
18 May 2016	0.90	1.41	1.87
19 May 2016	0.89	1.38	1.85
20 May 2016	0.89	1.38	1.85
23 May 2016	0.91	1.38	1.84
24 May 2016	0.92	1.41	1.86
25 May 2016	0.92	1.40	1.87
26 May 2016	0.87	1.35	1.83
27 May 2016	0.90	1.39	1.85
30 May 2016	ND	ND	ND
31 May 2016	0.87	1.37	1.84
1 June 2016	0.91	1.39	1.85
2 June 2016	0.89	1.36	1.81
3 June 2016	0.78	1.23	1.71
6 June 2016	0.80	1.25	1.73
7 June 2016	0.78	1.23	1.72
8 June 2016	0.78	1.23	1.71
9 June 2016	0.77	1.22	1.68
10 June 2016	0.73	1.17	1.64
13 June 2016	0.73	1.14	1.62
14 June 2016	0.74	1.15	1.62
15 June 2016	0.69	1.10	1.60
16 June 2016	0.70	1.10	1.57
17 June 2016	0.70	1.13	1.62
20 June 2016	0.74	1.17	1.67
21 June 2016	0.76	1.22	1.71
22 June 2016	0.75	1.20	1.69
23 June 2016	0.78	1.25	1.74
24 June 2016	0.64	1.08	1.57
27 June 2016	0.61	1.00	1.46
28 June 2016	0.61	1.00	1.46
29 June 2016	0.62	1.03	1.50
30 June 2016	0.58	1.01	1.49
1 July 2016	0.59	1.00	1.46
4 July 2016	ND	ND	ND
5 July 2016	0.56	0.94	1.37
6 July 2016	0.58	0.95	1.38
7 July 2016	0.58	0.97	1.40
8 July 2016	0.61	0.95	1.37
11 July 2016	0.66	1.03	1.43
12 July 2016	0.69	1.10	1.53
13 July 2016	0.68	1.07	1.48
14 July 2016	0.68	1.10	1.53
15 July 2016	0.71	1.15	1.60
18 July 2016	0.68	1.14	1.59
19 July 2016	0.70	1.12	1.56
20 July 2016	0.73	1.15	1.59
21 July 2016	0.70	1.11	1.57
22 July 2016	0.71	1.13	1.57
25 July 2016	0.72	1.15	1.58
26 July 2016	0.75	1.15	1.57
27 July 2016	0.73	1.10	1.52
28 July 2016	0.72	1.09	1.52
29 July 2016	0.67	1.03	1.46
1 August 2016	0.67	1.06	1.51
2 August 2016	0.67	1.07	1.55
3 August 2016	0.67	1.07	1.55
4 August 2016	0.64	1.03	1.51
5 August 2016	0.72	1.13	1.59
8 August 2016	0.74	1.15	1.59
9 August 2016	0.71	1.11	1.55
10 August 2016	0.69	1.07	1.50
11 August 2016	0.76	1.16	1.57
12 August 2016	0.71	1.10	1.51
15 August 2016	0.72	1.14	1.55
16 August 2016	0.76	1.16	1.57
17 August 2016	0.74	1.15	1.56
18 August 2016	0.71	1.12	1.53
19 August 2016	0.76	1.17	1.58
22 August 2016	0.76	1.15	1.55
23 August 2016	0.74	1.15	1.55
24 August 2016	0.76	1.13	1.56
25 August 2016	0.78	1.16	1.58
26 August 2016	0.84	1.23	1.62
29 August 2016	0.81	1.18	1.57
30 August 2016	0.80	1.18	1.57
31 August 2016	0.80	1.19	1.58
1 September 2016	0.78	1.18	1.57
2 September 2016	0.80	1.20	1.60
5 September 2016	ND	ND	ND
6 September 2016	0.74	1.13	1.55
7 September 2016	0.74	1.12	1.54
8 September 2016	0.78	1.19	1.61
9 September 2016	0.79	1.23	1.67
12 September 2016	0.79	1.21	1.68
13 September 2016	0.80	1.26	1.73
14 September 2016	0.77	1.21	1.70
15 September 2016	0.74	1.20	1.71
16 September 2016	0.77	1.21	1.70
19 September 2016	0.79	1.22	1.70
20 September 2016	0.79	1.20	1.69
21 September 2016	0.79	1.20	1.66
22 September 2016	0.79	1.18	1.63
23 September 2016	0.77	1.16	1.62
26 September 2016	0.76	1.13	1.59
27 September 2016	0.75	1.12	1.56
28 September 2016	0.75	1.13	1.57
29 September 2016	0.73	1.12	1.56
30 September 2016	0.77	1.14	1.60
3 October 2016	0.80	1.18	1.63
4 October 2016	0.82	1.22	1.69
5 October 2016	0.85	1.26	1.72
6 October 2016	0.86	1.28	1.75
7 October 2016	0.83	1.26	1.73
10 October 2016	ND	ND	ND
11 October 2016	0.87	1.30	1.77
12 October 2016	0.87	1.31	1.79
13 October 2016	0.85	1.27	1.75
14 October 2016	0.84	1.28	1.80
17 October 2016	0.81	1.26	1.77
18 October 2016	0.82	1.24	1.75
19 October 2016	0.81	1.24	1.76
20 October 2016	0.84	1.26	1.76
21 October 2016	0.84	1.25	1.74
24 October 2016	0.84	1.27	1.77
25 October 2016	0.86	1.29	1.77
26 October 2016	0.86	1.30	1.79
27 October 2016	0.87	1.33	1.85
28 October 2016	0.86	1.33	1.86
31 October 2016	0.86	1.31	1.84
1 November 2016	0.83	1.30	1.83
2 November 2016	0.81	1.26	1.81
3 November 2016	0.81	1.26	1.82
4 November 2016	0.80	1.24	1.79
7 November 2016	0.82	1.29	1.83
8 November 2016	0.87	1.34	1.88
9 November 2016	0.90	1.49	2.07
10 November 2016	0.92	1.56	2.15
11 November 2016	ND	ND	ND
14 November 2016	1.00	1.66	2.23
15 November 2016	1.02	1.68	2.23
16 November 2016	1.00	1.68	2.22
17 November 2016	1.04	1.73	2.29
18 November 2016	1.07	1.80	2.34
21 November 2016	1.08	1.79	2.33
22 November 2016	1.07	1.77	2.31
23 November 2016	1.12	1.83	2.36
24 November 2016	ND	ND	ND
25 November 2016	1.12	1.83	2.36
28 November 2016	1.11	1.80	2.32
29 November 2016	1.09	1.78	2.30
30 November 2016	1.11	1.83	2.37
1 December 2016	1.14	1.90	2.45
2 December 2016	1.11	1.84	2.40
5 December 2016	1.13	1.84	2.39
6 December 2016	1.12	1.84	2.39
7 December 2016	1.10	1.80	2.34
8 December 2016	1.12	1.83	2.40
9 December 2016	1.15	1.89	2.47
12 December 2016	1.15	1.90	2.49
13 December 2016	1.17	1.92	2.48
14 December 2016	1.27	2.02	2.54
15 December 2016	1.29	2.10	2.60
16 December 2016	1.28	2.07	2.60
19 December 2016	1.24	2.03	2.54
20 December 2016	1.25	2.06	2.57
21 December 2016	1.21	2.04	2.55
22 December 2016	1.22	2.04	2.55
23 December 2016	1.22	2.04	2.55
26 December 2016	ND	ND	ND
27 December 2016	1.28	2.07	2.57
28 December 2016	1.26	2.02	2.51
29 December 2016	1.22	1.96	2.49
30 December 2016	1.20	1.93	2.45
2 January 2017	ND	ND	ND
3 January 2017	1.22	1.94	2.45
4 January 2017	1.24	1.94	2.46
5 January 2017	1.17	1.86	2.37
6 January 2017	1.22	1.92	2.42
9 January 2017	1.21	1.89	2.38
10 January 2017	1.19	1.89	2.38
11 January 2017	1.20	1.89	2.38
12 January 2017	1.18	1.87	2.36
13 January 2017	1.21	1.90	2.40
16 January 2017	ND	ND	ND
17 January 2017	1.17	1.84	2.33
18 January 2017	1.23	1.93	2.42
19 January 2017	1.25	1.97	2.47
20 January 2017	1.20	1.95	2.48
23 January 2017	1.16	1.88	2.41
24 January 2017	1.21	1.94	2.47
25 January 2017	1.23	1.99	2.53
26 January 2017	1.21	1.95	2.51
27 January 2017	1.22	1.94	2.49
30 January 2017	1.22	1.94	2.49
31 January 2017	1.19	1.90	2.45
1 February 2017	1.22	1.93	2.48
2 February 2017	1.21	1.92	2.48
3 February 2017	1.21	1.93	2.49
6 February 2017	1.16	1.86	2.42
7 February 2017	1.16	1.85	2.40
8 February 2017	1.15	1.81	2.34
9 February 2017	1.20	1.88	2.40
10 February 2017	1.20	1.89	2.41
13 February 2017	1.20	1.92	2.43
14 February 2017	1.25	1.98	2.47
15 February 2017	1.27	2.01	2.51
16 February 2017	1.22	1.95	2.45
17 February 2017	1.21	1.92	2.42
20 February 2017	ND	ND	ND
21 February 2017	1.22	1.93	2.43
22 February 2017	1.22	1.92	2.42
23 February 2017	1.18	1.87	2.38
24 February 2017	1.12	1.80	2.31
27 February 2017	1.20	1.87	2.36
28 February 2017	1.22	1.89	2.36
1 March 2017	1.29	1.99	2.46
2 March 2017	1.32	2.03	2.49
3 March 2017	1.32	2.02	2.49
6 March 2017	1.31	2.02	2.49
7 March 2017	1.32	2.05	2.52
8 March 2017	1.36	2.08	2.57
9 March 2017	1.37	2.13	2.60
10 March 2017	1.36	2.11	2.58
13 March 2017	1.40	2.14	2.62
14 March 2017	1.40	2.13	2.60
15 March 2017	1.33	2.02	2.51
16 March 2017	1.35	2.05	2.53
17 March 2017	1.33	2.03	2.50
20 March 2017	1.30	2.00	2.47
21 March 2017	1.27	1.96	2.43
22 March 2017	1.27	1.95	2.40
23 March 2017	1.26	1.95	2.41
24 March 2017	1.26	1.93	2.40
27 March 2017	1.27	1.93	2.38
28 March 2017	1.30	1.97	2.42
29 March 2017	1.26	1.93	2.39
30 March 2017	1.28	1.96	2.42
31 March 2017	1.27	1.93	2.40
3 April 2017	1.24	1.88	2.35
4 April 2017	1.25	1.88	2.36
5 April 2017	1.24	1.85	2.34
6 April 2017	1.24	1.87	2.34
7 April 2017	1.29	1.92	2.38
10 April 2017	1.29	1.91	2.37
11 April 2017	1.24	1.84	2.32
12 April 2017	1.24	1.81	2.28
13 April 2017	1.21	1.77	2.24
14 April 2017	ND	ND	ND
17 April 2017	1.21	1.79	2.26
18 April 2017	1.18	1.71	2.18
19 April 2017	1.19	1.74	2.21
20 April 2017	1.21	1.78	2.24
21 April 2017	1.20	1.77	2.24
24 April 2017	1.25	1.81	2.28
25 April 2017	1.29	1.87	2.35
26 April 2017	1.28	1.84	2.32
27 April 2017	1.25	1.81	2.30
28 April 2017	1.28	1.81	2.29
1 May 2017	1.28	1.84	2.33
2 May 2017	1.27	1.81	2.29
3 May 2017	1.30	1.86	2.33
4 May 2017	1.32	1.88	2.36
5 May 2017	1.32	1.89	2.36
8 May 2017	1.33	1.91	2.39
9 May 2017	1.37	1.94	2.42
10 May 2017	1.35	1.94	2.41
11 May 2017	1.35	1.93	2.39
12 May 2017	1.29	1.85	2.33
15 May 2017	1.31	1.86	2.34
16 May 2017	1.29	1.86	2.33
17 May 2017	1.26	1.76	2.22
18 May 2017	1.27	1.78	2.23
19 May 2017	1.28	1.79	2.23
22 May 2017	1.29	1.80	2.25
23 May 2017	1.31	1.84	2.29
24 May 2017	1.29	1.79	2.26
25 May 2017	1.30	1.78	2.25
26 May 2017	1.30	1.79	2.25
29 May 2017	ND	ND	ND
30 May 2017	1.28	1.76	2.21
31 May 2017	1.28	1.75	2.21
1 June 2017	1.28	1.76	2.21
2 June 2017	1.28	1.71	2.15
5 June 2017	1.32	1.74	2.18
6 June 2017	1.30	1.71	2.14
7 June 2017	1.32	1.74	2.18
8 June 2017	1.33	1.75	2.19
9 June 2017	1.35	1.77	2.21
12 June 2017	1.35	1.78	2.21
13 June 2017	1.38	1.79	2.21
14 June 2017	1.35	1.74	2.15
15 June 2017	1.35	1.76	2.16
16 June 2017	1.32	1.75	2.16
19 June 2017	1.36	1.80	2.19
20 June 2017	1.36	1.77	2.16
21 June 2017	1.36	1.78	2.16
22 June 2017	1.34	1.76	2.15
23 June 2017	1.34	1.77	2.15
26 June 2017	1.36	1.77	2.14
27 June 2017	1.38	1.83	2.21
28 June 2017	1.34	1.81	2.22
29 June 2017	1.38	1.85	2.27
30 June 2017	1.38	1.89	2.31
3 July 2017	1.41	1.93	2.35
4 July 2017	ND	ND	ND
5 July 2017	1.41	1.92	2.33
6 July 2017	1.40	1.94	2.37
7 July 2017	1.40	1.95	2.39
10 July 2017	1.40	1.93	2.38
11 July 2017	1.37	1.92	2.37
12 July 2017	1.35	1.88	2.33
13 July 2017	1.37	1.89	2.35
14 July 2017	1.35	1.87	2.33
17 July 2017	1.36	1.86	2.31
18 July 2017	1.36	1.82	2.27
19 July 2017	1.37	1.83	2.27
20 July 2017	1.37	1.82	2.27
21 July 2017	1.36	1.81	2.24
24 July 2017	1.37	1.83	2.26
25 July 2017	1.40	1.90	2.33
26 July 2017	1.36	1.83	2.29
27 July 2017	1.36	1.84	2.32
28 July 2017	1.34	1.83	2.30
31 July 2017	1.34	1.84	2.30
1 August 2017	1.34	1.80	2.26
2 August 2017	1.36	1.82	2.27
3 August 2017	1.34	1.79	2.24
4 August 2017	1.36	1.82	2.27
7 August 2017	1.36	1.81	2.26
8 August 2017	1.36	1.84	2.29
9 August 2017	1.33	1.81	2.24
10 August 2017	1.33	1.78	2.20
11 August 2017	1.30	1.74	2.19
14 August 2017	1.33	1.77	2.22
15 August 2017	1.35	1.83	2.27
16 August 2017	1.33	1.79	2.23
17 August 2017	1.32	1.76	2.19
18 August 2017	1.33	1.77	2.19
21 August 2017	1.32	1.76	2.18
22 August 2017	1.33	1.80	2.22
23 August 2017	1.32	1.76	2.17
24 August 2017	1.33	1.78	2.19
25 August 2017	1.35	1.77	2.17
28 August 2017	1.33	1.74	2.16
29 August 2017	1.33	1.70	2.13
30 August 2017	1.33	1.72	2.15
31 August 2017	1.33	1.70	2.12
1 September 2017	1.35	1.73	2.16
4 September 2017	ND	ND	ND
5 September 2017	1.30	1.65	2.07
6 September 2017	1.30	1.69	2.10
7 September 2017	1.27	1.63	2.05
8 September 2017	1.27	1.64	2.06
11 September 2017	1.32	1.71	2.14
12 September 2017	1.33	1.75	2.17
13 September 2017	1.35	1.78	2.20
14 September 2017	1.37	1.79	2.20
15 September 2017	1.39	1.81	2.20
18 September 2017	1.40	1.83	2.23
19 September 2017	1.40	1.84	2.24
20 September 2017	1.45	1.89	2.28
21 September 2017	1.45	1.89	2.27
22 September 2017	1.46	1.88	2.26
25 September 2017	1.44	1.85	2.22
26 September 2017	1.45	1.87	2.24
27 September 2017	1.47	1.91	2.31
28 September 2017	1.45	1.89	2.31
29 September 2017	1.47	1.92	2.33
2 October 2017	1.49	1.94	2.34
3 October 2017	1.47	1.92	2.33
4 October 2017	1.47	1.92	2.33
5 October 2017	1.49	1.94	2.35
6 October 2017	1.54	1.97	2.37
9 October 2017	ND	ND	ND
10 October 2017	1.51	1.95	2.35
11 October 2017	1.51	1.95	2.35
12 October 2017	1.51	1.95	2.33
13 October 2017	1.51	1.91	2.28
16 October 2017	1.54	1.95	2.30
17 October 2017	1.54	1.97	2.30
18 October 2017	1.59	1.99	2.34
19 October 2017	1.58	1.98	2.33
20 October 2017	1.60	2.03	2.39
23 October 2017	1.58	2.01	2.38
24 October 2017	1.60	2.05	2.42
25 October 2017	1.61	2.06	2.44
26 October 2017	1.63	2.07	2.46
27 October 2017	1.59	2.03	2.42
30 October 2017	1.58	2.00	2.37
31 October 2017	1.60	2.01	2.38
1 November 2017	1.61	2.01	2.37
2 November 2017	1.61	2.00	2.35
3 November 2017	1.63	1.99	2.34
6 November 2017	1.61	1.99	2.32
7 November 2017	1.63	1.99	2.32
8 November 2017	1.65	2.01	2.32
9 November 2017	1.63	2.01	2.33
10 November 2017	1.67	2.06	2.40
13 November 2017	1.70	2.08	2.40
14 November 2017	1.68	2.06	2.38
15 November 2017	1.68	2.04	2.33
16 November 2017	1.72	2.07	2.37
17 November 2017	1.73	2.06	2.35
20 November 2017	1.77	2.09	2.37
21 November 2017	1.77	2.11	2.36
22 November 2017	1.74	2.05	2.32
23 November 2017	ND	ND	ND
24 November 2017	1.75	2.07	2.34
27 November 2017	1.74	2.06	2.32
28 November 2017	1.75	2.07	2.34
29 November 2017	1.78	2.09	2.37
30 November 2017	1.78	2.14	2.42
1 December 2017	1.78	2.13	2.37
4 December 2017	1.80	2.15	2.37
5 December 2017	1.83	2.15	2.36
6 December 2017	1.78	2.11	2.33
7 December 2017	1.80	2.14	2.37
8 December 2017	1.80	2.14	2.38
11 December 2017	1.82	2.16	2.39
12 December 2017	1.83	2.18	2.40
13 December 2017	1.79	2.12	2.36
14 December 2017	1.82	2.14	2.35
15 December 2017	1.84	2.16	2.35
18 December 2017	1.84	2.17	2.39
19 December 2017	1.87	2.23	2.46
20 December 2017	1.87	2.24	2.49
21 December 2017	1.89	2.26	2.48
22 December 2017	1.91	2.26	2.48
25 December 2017	ND	ND	ND
26 December 2017	1.92	2.25	2.47
27 December 2017	1.89	2.22	2.42
28 December 2017	1.91	2.23	2.43
29 December 2017	1.89	2.20	2.40
1 January 2018	ND	ND	ND
2 January 2018	1.92	2.25	2.46
3 January 2018	1.94	2.25	2.44
4 January 2018	1.96	2.27	2.46
5 January 2018	1.96	2.29	2.47
8 January 2018	1.96	2.29	2.49
9 January 2018	1.98	2.33	2.55
10 January 2018	1.98	2.32	2.55
11 January 2018	1.98	2.32	2.54
12 January 2018	1.99	2.35	2.55
15 January 2018	ND	ND	ND
16 January 2018	2.03	2.36	2.54
17 January 2018	2.05	2.39	2.57
18 January 2018	2.05	2.43	2.62
19 January 2018	2.06	2.45	2.64
22 January 2018	2.08	2.46	2.66
23 January 2018	2.06	2.43	2.63
24 January 2018	2.08	2.43	2.65
25 January 2018	2.08	2.41	2.63
26 January 2018	2.13	2.47	2.66
29 January 2018	2.11	2.49	2.70
30 January 2018	2.13	2.51	2.73
31 January 2018	2.14	2.52	2.72
1 February 2018	2.16	2.56	2.78
2 February 2018	2.15	2.58	2.84
5 February 2018	2.08	2.50	2.77
6 February 2018	2.10	2.52	2.79
7 February 2018	2.15	2.57	2.84
8 February 2018	2.13	2.57	2.85
9 February 2018	2.05	2.52	2.83
12 February 2018	2.09	2.56	2.86
13 February 2018	2.10	2.54	2.83
14 February 2018	2.17	2.65	2.91
15 February 2018	2.19	2.65	2.90
16 February 2018	2.21	2.63	2.87
19 February 2018	ND	ND	ND
20 February 2018	2.25	2.65	2.88
21 February 2018	2.26	2.69	2.94
22 February 2018	2.25	2.66	2.92
23 February 2018	2.25	2.62	2.88
26 February 2018	2.22	2.60	2.86
27 February 2018	2.27	2.67	2.90
28 February 2018	2.25	2.65	2.87
1 March 2018	2.22	2.58	2.81
2 March 2018	2.25	2.63	2.86
5 March 2018	2.24	2.65	2.88
6 March 2018	2.25	2.65	2.88
7 March 2018	2.25	2.65	2.89
8 March 2018	2.25	2.63	2.86
9 March 2018	2.27	2.65	2.90
12 March 2018	2.27	2.64	2.87
13 March 2018	2.26	2.62	2.84
14 March 2018	2.26	2.61	2.81
15 March 2018	2.29	2.62	2.82
16 March 2018	2.31	2.65	2.85
19 March 2018	2.31	2.65	2.85
20 March 2018	2.34	2.69	2.89
21 March 2018	2.31	2.69	2.89
22 March 2018	2.29	2.63	2.83
23 March 2018	2.28	2.61	2.82
26 March 2018	2.33	2.64	2.85
27 March 2018	2.26	2.58	2.78
28 March 2018	2.28	2.59	2.77
29 March 2018	2.27	2.56	2.74
30 March 2018	ND	ND	ND
2 April 2018	2.25	2.55	2.73
3 April 2018	2.28	2.60	2.79
4 April 2018	2.28	2.61	2.79
5 April 2018	2.30	2.64	2.83
6 April 2018	2.27	2.58	2.77
9 April 2018	2.29	2.60	2.78
10 April 2018	2.32	2.62	2.80
11 April 2018	2.32	2.62	2.79
12 April 2018	2.34	2.67	2.83
13 April 2018	2.37	2.67	2.82
16 April 2018	2.39	2.69	2.83
17 April 2018	2.41	2.68	2.82
18 April 2018	2.42	2.73	2.87
19 April 2018	2.44	2.77	2.92
20 April 2018	2.46	2.80	2.96
23 April 2018	2.49	2.83	2.98
24 April 2018	2.48	2.83	3.00
25 April 2018	2.49	2.84	3.03
26 April 2018	2.49	2.82	3.00
27 April 2018	2.49	2.80	2.96
30 April 2018	2.49	2.79	2.95
1 May 2018	2.50	2.82	2.97
2 May 2018	2.49	2.80	2.97
3 May 2018	2.49	2.78	2.94
4 May 2018	2.51	2.78	2.95
7 May 2018	2.49	2.78	2.95
8 May 2018	2.51	2.81	2.97
9 May 2018	2.54	2.84	3.00
10 May 2018	2.54	2.83	2.97
11 May 2018	2.54	2.84	2.97
14 May 2018	2.55	2.85	3.00
15 May 2018	2.58	2.92	3.08
16 May 2018	2.58	2.94	3.09
17 May 2018	2.57	2.94	3.11
18 May 2018	2.55	2.90	3.06
21 May 2018	2.58	2.90	3.06
22 May 2018	2.59	2.90	3.06
23 May 2018	2.53	2.83	3.01
24 May 2018	2.50	2.82	2.98
25 May 2018	2.48	2.76	2.93
28 May 2018	ND	ND	ND
29 May 2018	2.32	2.58	2.77
30 May 2018	2.42	2.67	2.84
31 May 2018	2.40	2.68	2.83
1 June 2018	2.47	2.74	2.89
4 June 2018	2.52	2.78	2.94
5 June 2018	2.49	2.76	2.92
6 June 2018	2.52	2.81	2.97
7 June 2018	2.50	2.77	2.93
8 June 2018	2.50	2.77	2.93
11 June 2018	2.52	2.80	2.96
12 June 2018	2.54	2.81	2.96
13 June 2018	2.59	2.85	2.98
14 June 2018	2.59	2.81	2.94
15 June 2018	2.55	2.81	2.93
18 June 2018	2.56	2.80	2.92
19 June 2018	2.54	2.77	2.89
20 June 2018	2.56	2.80	2.93
21 June 2018	2.56	2.77	2.90
22 June 2018	2.56	2.77	2.90
25 June 2018	2.54	2.75	2.87
26 June 2018	2.53	2.75	2.88
27 June 2018	2.52	2.71	2.83
28 June 2018	2.52	2.73	2.84
29 June 2018	2.52	2.73	2.85
2 July 2018	2.57	2.75	2.87
3 July 2018	2.53	2.72	2.83
4 July 2018	ND	ND	ND
5 July 2018	2.55	2.74	2.84
6 July 2018	2.53	2.71	2.82
9 July 2018	2.57	2.75	2.86
10 July 2018	2.59	2.77	2.87
11 July 2018	2.58	2.74	2.85
12 July 2018	2.60	2.75	2.85
13 July 2018	2.59	2.73	2.83
16 July 2018	2.59	2.75	2.85
17 July 2018	2.62	2.76	2.86
18 July 2018	2.60	2.77	2.88
19 July 2018	2.60	2.74	2.84
20 July 2018	2.60	2.77	2.89
23 July 2018	2.64	2.83	2.96
24 July 2018	2.63	2.83	2.95
25 July 2018	2.66	2.82	2.94
26 July 2018	2.69	2.86	2.98
27 July 2018	2.67	2.84	2.96
30 July 2018	2.66	2.85	2.98
31 July 2018	2.67	2.85	2.96
1 August 2018	2.67	2.87	3.00
2 August 2018	2.66	2.85	2.98
3 August 2018	2.63	2.82	2.95
6 August 2018	2.64	2.80	2.94
7 August 2018	2.68	2.84	2.98
8 August 2018	2.68	2.83	2.96
9 August 2018	2.64	2.80	2.93
10 August 2018	2.61	2.75	2.87
13 August 2018	2.61	2.75	2.88
14 August 2018	2.63	2.77	2.89
15 August 2018	2.61	2.73	2.86
16 August 2018	2.63	2.75	2.87
17 August 2018	2.61	2.75	2.87
20 August 2018	2.60	2.70	2.82
21 August 2018	2.61	2.73	2.85
22 August 2018	2.60	2.70	2.82
23 August 2018	2.61	2.72	2.82
24 August 2018	2.63	2.72	2.82
27 August 2018	2.67	2.74	2.85
28 August 2018	2.67	2.77	2.88
29 August 2018	2.67	2.78	2.89
30 August 2018	2.64	2.75	2.86
31 August 2018	2.62	2.74	2.86
3 September 2018	ND	ND	ND
4 September 2018	2.66	2.78	2.90
5 September 2018	2.66	2.77	2.90
6 September 2018	2.64	2.76	2.88
7 September 2018	2.71	2.82	2.94
10 September 2018	2.73	2.83	2.94
11 September 2018	2.76	2.87	2.98
12 September 2018	2.74	2.87	2.97
13 September 2018	2.76	2.87	2.97
14 September 2018	2.78	2.90	2.99
17 September 2018	2.78	2.89	2.99
18 September 2018	2.81	2.94	3.05
19 September 2018	2.81	2.96	3.08
20 September 2018	2.81	2.96	3.07
21 September 2018	2.81	2.95	3.07
24 September 2018	2.83	2.96	3.08
25 September 2018	2.83	2.99	3.10
26 September 2018	2.83	2.96	3.06
27 September 2018	2.83	2.96	3.06
28 September 2018	2.81	2.94	3.05
1 October 2018	2.82	2.96	3.09
2 October 2018	2.82	2.94	3.05
3 October 2018	2.85	3.02	3.15
4 October 2018	2.87	3.05	3.19
5 October 2018	2.88	3.07	3.23
8 October 2018	ND	ND	ND
9 October 2018	2.88	3.05	3.21
10 October 2018	2.88	3.05	3.22
11 October 2018	2.85	3.00	3.14
12 October 2018	2.85	3.00	3.15
15 October 2018	2.85	3.01	3.16
16 October 2018	2.87	3.02	3.16
17 October 2018	2.89	3.04	3.19
18 October 2018	2.87	3.03	3.17
19 October 2018	2.92	3.05	3.20
22 October 2018	2.92	3.05	3.20
23 October 2018	2.89	3.01	3.17
24 October 2018	2.84	2.94	3.10
25 October 2018	2.86	2.98	3.14
26 October 2018	2.81	2.91	3.08
29 October 2018	2.81	2.91	3.08
30 October 2018	2.84	2.94	3.12
31 October 2018	2.87	2.98	3.15
1 November 2018	2.84	2.96	3.14
2 November 2018	2.91	3.04	3.22
5 November 2018	2.91	3.03	3.20
6 November 2018	2.93	3.05	3.22
7 November 2018	2.96	3.07	3.22
8 November 2018	2.98	3.09	3.24
9 November 2018	2.94	3.05	3.19
12 November 2018	ND	ND	ND
13 November 2018	2.89	2.99	3.14
14 November 2018	2.86	2.95	3.12
15 November 2018	2.86	2.94	3.11
16 November 2018	2.81	2.90	3.08
19 November 2018	2.79	2.87	3.06
20 November 2018	2.79	2.88	3.06
21 November 2018	2.81	2.89	3.06
22 November 2018	ND	ND	ND
23 November 2018	2.81	2.88	3.05
26 November 2018	2.84	2.90	3.07
27 November 2018	2.83	2.89	3.06
28 November 2018	2.81	2.87	3.06
29 November 2018	2.81	2.85	3.03
30 November 2018	2.80	2.84	3.01
3 December 2018	2.83	2.83	2.98
4 December 2018	2.80	2.79	2.91
5 December 2018	ND	ND	ND
6 December 2018	2.75	2.75	2.87
7 December 2018	2.72	2.70	2.85
10 December 2018	2.72	2.71	2.85
11 December 2018	2.78	2.75	2.89
12 December 2018	2.77	2.77	2.91
13 December 2018	2.75	2.75	2.91
14 December 2018	2.73	2.73	2.89
17 December 2018	2.70	2.69	2.86
18 December 2018	2.65	2.65	2.82
19 December 2018	2.63	2.62	2.77
20 December 2018	2.67	2.65	2.79
21 December 2018	2.63	2.64	2.79
24 December 2018	2.55	2.58	2.74
25 December 2018	ND	ND	ND
26 December 2018	2.61	2.67	2.81
27 December 2018	2.56	2.60	2.77
28 December 2018	2.52	2.56	2.72
31 December 2018	2.48	2.51	2.69
1 January 2019	ND	ND	ND
2 January 2019	2.50	2.49	2.66
3 January 2019	2.39	2.37	2.56
4 January 2019	2.50	2.49	2.67
7 January 2019	2.53	2.53	2.70
8 January 2019	2.58	2.58	2.73
9 January 2019	2.56	2.57	2.74
10 January 2019	2.56	2.56	2.74
11 January 2019	2.55	2.52	2.71
14 January 2019	2.53	2.53	2.71
15 January 2019	2.53	2.53	2.72
16 January 2019	2.55	2.54	2.73
17 January 2019	2.56	2.58	2.75
18 January 2019	2.62	2.62	2.79
21 January 2019	ND	ND	ND
22 January 2019	2.58	2.57	2.74
23 January 2019	2.58	2.59	2.76
24 January 2019	2.56	2.55	2.72
25 January 2019	2.60	2.59	2.76
28 January 2019	2.60	2.58	2.75
29 January 2019	2.56	2.55	2.72
30 January 2019	2.52	2.49	2.70
31 January 2019	2.45	2.43	2.63
1 February 2019	2.52	2.51	2.70
4 February 2019	2.53	2.53	2.73
5 February 2019	2.53	2.51	2.71
6 February 2019	2.52	2.50	2.70
7 February 2019	2.48	2.46	2.65
8 February 2019	2.45	2.44	2.63
11 February 2019	2.48	2.47	2.65
12 February 2019	2.50	2.49	2.68
13 February 2019	2.53	2.53	2.71
14 February 2019	2.50	2.48	2.66
15 February 2019	2.52	2.49	2.66
18 February 2019	ND	ND	ND
19 February 2019	2.50	2.47	2.65
20 February 2019	2.50	2.47	2.65
21 February 2019	2.53	2.51	2.69
22 February 2019	2.48	2.47	2.65
25 February 2019	2.51	2.48	2.67
26 February 2019	2.48	2.45	2.64
27 February 2019	2.50	2.49	2.69
28 February 2019	2.52	2.52	2.73
1 March 2019	2.55	2.56	2.76
4 March 2019	2.55	2.53	2.72
5 March 2019	2.55	2.53	2.72
6 March 2019	2.52	2.49	2.69
7 March 2019	2.47	2.44	2.64
8 March 2019	2.45	2.42	2.62
11 March 2019	2.47	2.44	2.64
12 March 2019	2.45	2.41	2.61
13 March 2019	2.45	2.42	2.61
14 March 2019	2.46	2.43	2.63
15 March 2019	2.43	2.40	2.59
18 March 2019	2.45	2.42	2.60
19 March 2019	2.46	2.42	2.61
20 March 2019	2.40	2.34	2.54
21 March 2019	2.41	2.34	2.54
22 March 2019	2.31	2.24	2.44
25 March 2019	2.26	2.21	2.43
26 March 2019	2.24	2.18	2.41
27 March 2019	2.22	2.18	2.39
28 March 2019	2.23	2.20	2.39
29 March 2019	2.27	2.23	2.41
1 April 2019	2.33	2.31	2.49
2 April 2019	2.30	2.28	2.48
3 April 2019	2.33	2.32	2.52
4 April 2019	2.33	2.32	2.51
5 April 2019	2.35	2.31	2.50
8 April 2019	2.36	2.33	2.52
9 April 2019	2.35	2.31	2.51
10 April 2019	2.31	2.28	2.48
11 April 2019	2.35	2.31	2.51
12 April 2019	2.40	2.38	2.56
15 April 2019	2.40	2.37	2.55
16 April 2019	2.41	2.41	2.60
17 April 2019	2.40	2.40	2.59
18 April 2019	2.38	2.38	2.57
19 April 2019	ND	ND	ND
22 April 2019	2.38	2.39	2.59
23 April 2019	2.36	2.36	2.57
24 April 2019	2.32	2.32	2.53
25 April 2019	2.33	2.33	2.54
26 April 2019	2.28	2.29	2.51
29 April 2019	2.30	2.32	2.54
30 April 2019	2.27	2.28	2.51
1 May 2019	2.31	2.31	2.52
2 May 2019	2.35	2.34	2.55
3 May 2019	2.33	2.33	2.54
6 May 2019	2.31	2.30	2.51
7 May 2019	2.28	2.25	2.45
8 May 2019	2.30	2.28	2.49
9 May 2019	2.26	2.25	2.45
10 May 2019	2.26	2.26	2.47
13 May 2019	2.18	2.18	2.40
14 May 2019	2.20	2.20	2.42
15 May 2019	2.16	2.15	2.37
16 May 2019	2.20	2.18	2.40
17 May 2019	2.20	2.17	2.39
20 May 2019	2.21	2.21	2.41
21 May 2019	2.26	2.23	2.43
22 May 2019	2.23	2.19	2.39
23 May 2019	2.12	2.11	2.31
24 May 2019	2.16	2.12	2.32
27 May 2019	ND	ND	ND
28 May 2019	2.12	2.06	2.26
29 May 2019	2.09	2.05	2.25
30 May 2019	2.06	2.03	2.22
31 May 2019	1.95	1.93	2.14
3 June 2019	1.82	1.83	2.07
4 June 2019	1.88	1.89	2.12
5 June 2019	1.83	1.86	2.12
6 June 2019	1.88	1.88	2.12
7 June 2019	1.85	1.85	2.09
10 June 2019	1.90	1.91	2.15
11 June 2019	1.93	1.92	2.15
12 June 2019	1.88	1.88	2.13
13 June 2019	1.83	1.84	2.10
14 June 2019	1.84	1.85	2.09
17 June 2019	1.86	1.85	2.09
18 June 2019	1.86	1.83	2.06
19 June 2019	1.74	1.77	2.03
20 June 2019	1.72	1.74	2.01
21 June 2019	1.77	1.80	2.07
24 June 2019	1.72	1.75	2.02
25 June 2019	1.71	1.73	2.00
26 June 2019	1.77	1.80	2.05
27 June 2019	1.74	1.76	2.01
28 June 2019	1.75	1.76	2.00
1 July 2019	1.78	1.79	2.03

Source: Department of the Treasury via Haver Analytics.

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Figure 32. Yield and spread on agency mortgage-backed securities

Series: Yield and spread

Horizon: January 3, 2004, to June 26, 2019

Description: A line chart with two curves over January 3, 2004, to June 26, 2019. Units are percent for the yield curve and basis points for the spread curve. Data are daily. The yield curve starts at about 5.5 at the beginning of 2004, increases to about 6.5 by mid-2006, decreases to about 2 by late 2012, increases to about 3.75 by late 2013, decreases to about 2.5 by mid-2016, increases to about 4 by the end of 2018, and ends at about 2.75. The spread curve starts at about 150 in 2004, decreases to about 100 by early 2007, spikes to about 275 by the beginning of 2008, decreases to about 125 by mid-2009, increases to about 175 by 2011, decreases to about 75 by late 2012, increases to about 150 by mid-2013, decreases to about 75 by 2018, and ends at about 75.

Note: The data are daily. Yield shown is for the Fannie Mae 30-year current coupon, the coupon rate at which new mortgage-backed securities would be priced at par, or face, value. Spread shown is to the average of the 5- and 10-year nominal Treasury yields. Data extend through June 26, 2019.

Source: Department of the Treasury; Barclays Live.

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Figure 33. Corporate bond yields, by securities rating

Series: Investment-grade and high-yield

Horizon: January 5, 2004, to June 26, 2019

Description: A line chart with two curves over January 5, 2004, to June 26, 2019. Data are daily, and units for both series are in percentage points. The investment-grade series starts at approximately 5.5 at the beginning of 2004, increases to approximately 6.5 by mid-2006, peaks close to 10.7 toward the end of 2008, drops substantially to 3.6 by late 2012, increases to 4.6 by the end of 2013, falls to around 3.6 by early 2015, and then fluctuates fairly consistently between 3.6 and 4.9 until the end of the series. The high-yield series begins at 7.2, increases to about 8.2 by the middle of 2007, increases gradually to 10.6 by September 2008, rises rapidly to peak at 18.1 in December, drops substantially to about 8.6 by the end of 2009, declines to 5.6 by May 2013, increases to about 7.9 by the beginning of 2016, drops to 5.5 by mid-2017, rises to 7.5 by the end of 2018, and settles at about 6 by the end of the series.

Note: Investment-grade is the 10-year triple-B, which reflects the effective yield of the ICE BofAML 7-to-10-year triple-B U.S. Corporate Index (C4A4). High-yield is the 10-year high-yield and reflects the effective yield of the ICE BofAML 7-to-10-year U.S. Cash Pay High Yield Index (J4A0). Data extend through June 26, 2019.

Source: ICE Bank of America Merrill Lynch Indices, used with permission.

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Figure 34. Equity prices

Series: Dow Jones bank index and S&P 500 index

Horizon: January 3, 2004, to July 1, 2019

Description: A line chart with two curves over January 3, 2004, to July 1, 2019. Units for all series have been indexed to 100 based on their respective values on December 31, 1999, and data are daily. The Dow Jones bank index series starts in January 2004 at approximately 135, steadily increases to its peak just below 175 in mid-2007, crashes to about 25 in early 2009, fluctuates between 50 and 75 until early 2013, steadily rises to about 100 by the end of 2015, drops to about 75 in early 2016, rises sharply through 2016 and 2017 to around 150, decreases to approximately 106 by the end of 2018, and rebounds to about 130 by the end of the series. The S&P 500 index series starts in January 2004 at 75, steadily increases to about 100 in late 2007, falls to approximately 50 by the beginning of 2009, steadily increases to just under 150 by early 2015, fluctuates between 125 and 150 in mid-2015 through 2016, rises to about 195 by the very beginning of 2018, drops sharply to 160 by the end of 2018, and rebounds to 200 by the end of the series.

Source: Standard & Poor's Dow Jones Indices via Bloomberg. (For Dow Jones Indices licensing information, see the note on the Contents page, or Figure 20.)

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Figure 35. S&P 500 volatility

Series: VIX and realized volatility

Horizon: January 5, 2004, to July 1, 2019

Description: A line chart with two curves over January 5, 2004, to July 1, 2019. Units for both series are in percent, and data are daily. The VIX series starts at around 18 in January 2004, fluctuates between approximately 10 and 31 through mid-2008, reaches a peak of roughly 81 in late 2008, decreases to approximately 18 by the beginning of 2010, generally remains flat from 2010 to 2015 aside from spikes to 46 in May 2010 and 48 in August 2011, fluctuates between approximately 9 and about 28 in 2016 and 2017, generally increases during 2018, spikes to 37 in February 2018 and 36 in December 2018, and declines to 13 by the end of the series. The realized volatility series starts at around 9 in January 2004, generally decreases through early 2007 while fluctuating between approximately 7 and 22, increases sharply to roughly 65 by late 2008, decreases to approximately 11 by the beginning of 2010, generally remains flat through early 2015 aside from spikes to roughly 27 in May 2010 and 32 in August 2011, increases briefly to 30 in late 2015 and 21 in early 2016, fluctuates between approximately 4 and about 15 from mid-2016 through 2017, spikes to 20 in February 2018 and 25 in December 2018, and declines to 10 by the end of the series.

Note: The VIX is a measure of implied volatility that represents the expected annualized change in the S&P 500 index over the following 30 days. For realized volatility, five-minute S&P 500 returns are used in an exponentially weighted moving average with 75 percent of weight distributed over the past 20 days.

Source: Cboe Volatility Index ® (VIX®) accessed via Bloomberg; Federal Reserve Board staff estimates.

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Developments Related to Financial Stability: Figure A. Forward price-to-earnings ratio of S&P 500 firms

Monthly
Ratio

Period	Price-to-earning ratio
January 1988	10.33
February 1988	10.89
March 1988	11.05
April 1988	10.98
May 1988	9.88
June 1988	10.66
July 1988	10.33
August 1988	9.78
September 1988	9.99
October 1988	10.12
November 1988	9.47
December 1988	9.81
January 1989	10.06
February 1989	10.14
March 1989	10.12
April 1989	10.43
May 1989	10.73
June 1989	10.85
July 1989	11.24
August 1989	11.56
September 1989	11.51
October 1989	11.47
November 1989	11.52
December 1989	11.88
January 1990	11.53
February 1990	11.32
March 1990	11.49
April 1990	11.65
May 1990	12.07
June 1990	12.38
July 1990	12.39
August 1990	11.50
September 1990	10.79
October 1990	10.30
November 1990	11.18
December 1990	11.66
January 1991	11.25
February 1991	13.43
March 1991	13.77
April 1991	14.45
May 1991	13.64
June 1991	13.90
July 1991	14.15
August 1991	14.40
September 1991	14.21
October 1991	14.31
November 1991	14.46
December 1991	14.01
January 1992	15.37
February 1992	15.00
March 1992	14.85
April 1992	14.81
May 1992	14.70
June 1992	14.01
July 1992	14.43
August 1992	14.45
September 1992	14.41
October 1992	14.00
November 1992	14.52
December 1992	14.70
January 1993	14.62
February 1993	14.67
March 1993	15.01
April 1993	15.04
May 1993	14.71
June 1993	14.64
July 1993	14.63
August 1993	14.76
September 1993	14.81
October 1993	14.64
November 1993	14.67
December 1993	14.48
January 1994	14.74
February 1994	14.60
March 1994	14.33
April 1994	13.46
May 1994	13.42
June 1994	13.46
July 1994	13.00
August 1994	13.20
September 1994	13.10
October 1994	12.92
November 1994	12.56
December 1994	12.09
January 1995	12.32
February 1995	12.48
March 1995	12.50
April 1995	12.66
May 1995	12.90
June 1995	13.05
July 1995	13.30
August 1995	13.36
September 1995	13.68
October 1995	13.77
November 1995	13.80
December 1995	14.32
January 1996	14.01
February 1996	15.23
March 1996	14.81
April 1996	14.79
May 1996	15.20
June 1996	14.71
July 1996	14.40
August 1996	14.92
September 1996	15.25
October 1996	15.61
November 1996	16.07
December 1996	15.85
January 1997	16.46
February 1997	17.36
March 1997	16.65
April 1997	16.02
May 1997	17.38
June 1997	18.39
July 1997	19.23
August 1997	18.68
September 1997	18.92
October 1997	19.20
November 1997	18.60
December 1997	18.87
January 1998	18.66
February 1998	20.36
March 1998	21.42
April 1998	21.90
May 1998	21.69
June 1998	21.42
July 1998	22.77
August 1998	21.16
September 1998	20.01
October 1998	19.28
November 1998	22.02
December 1998	22.30
January 1999	23.71
February 1999	23.53
March 1999	24.73
April 1999	24.96
May 1999	24.74
June 1999	24.30
July 1999	25.44
August 1999	23.91
September 1999	23.47
October 1999	22.55
November 1999	24.50
December 1999	24.42
January 2000	24.85
February 2000	24.03
March 2000	23.73
April 2000	23.91
May 2000	23.89
June 2000	24.10
July 2000	24.09
August 2000	23.86
September 2000	23.85
October 2000	21.44
November 2000	22.24
December 2000	22.10
January 2001	21.98
February 2001	22.07
March 2001	19.72
April 2001	21.41
May 2001	22.23
June 2001	21.67
July 2001	21.61
August 2001	21.17
September 2001	18.42
October 2001	20.37
November 2001	21.49
December 2001	21.57
January 2002	21.00
February 2002	20.47
March 2002	20.75
April 2002	20.17
May 2002	19.40
June 2002	18.11
July 2002	16.15
August 2002	16.60
September 2002	15.72
October 2002	15.77
November 2002	16.01
December 2002	16.12
January 2003	16.48
February 2003	15.33
March 2003	15.70
April 2003	15.67
May 2003	16.55
June 2003	17.68
July 2003	17.27
August 2003	16.94
September 2003	17.41
October 2003	17.50
November 2003	17.10
December 2003	17.43
January 2004	18.10
February 2004	18.09
March 2004	17.40
April 2004	17.10
May 2004	15.97
June 2004	16.41
July 2004	15.92
August 2004	15.51
September 2004	15.77
October 2004	15.49
November 2004	16.17
December 2004	16.32
January 2005	15.95
February 2005	16.17
March 2005	15.64
April 2005	15.30
May 2005	15.27
June 2005	15.41
July 2005	15.41
August 2005	15.14
September 2005	14.95
October 2005	14.33
November 2005	14.61
December 2005	14.98
January 2006	14.90
February 2006	14.93
March 2006	15.06
April 2006	14.99
May 2006	14.29
June 2006	13.69
July 2006	13.90
August 2006	14.13
September 2006	14.26
October 2006	14.65
November 2006	14.81
December 2006	14.83
January 2007	15.01
February 2007	15.39
March 2007	14.56
April 2007	15.31
May 2007	15.51
June 2007	15.30
July 2007	15.41
August 2007	13.87
September 2007	15.01
October 2007	15.01
November 2007	14.32
December 2007	14.20
January 2008	13.49
February 2008	13.68
March 2008	13.09
April 2008	13.80
May 2008	14.30
June 2008	13.51
July 2008	12.60
August 2008	13.29
September 2008	12.01
October 2008	9.93
November 2008	9.74
December 2008	11.87
January 2009	11.48
February 2009	12.46
March 2009	12.42
April 2009	13.51
May 2009	14.66
June 2009	14.73
July 2009	14.80
August 2009	15.20
September 2009	15.91
October 2009	15.85
November 2009	15.12
December 2009	14.89
January 2010	14.80
February 2010	13.81
March 2010	14.44
April 2010	14.83
May 2010	12.99
June 2010	12.82
July 2010	12.49
August 2010	12.10
September 2010	12.36
October 2010	12.84
November 2010	12.57
December 2010	13.03
January 2011	13.21
February 2011	13.70
March 2011	12.61
April 2011	12.97
May 2011	12.90
June 2011	12.07
July 2011	12.64
August 2011	11.28
September 2011	11.24
October 2011	11.50
November 2011	11.68
December 2011	11.40
January 2012	12.33
February 2012	12.63
March 2012	12.96
April 2012	12.66
May 2012	12.01
June 2012	11.89
July 2012	12.59
August 2012	12.92
September 2012	13.34
October 2012	13.21
November 2012	12.19
December 2012	12.86
January 2013	13.12
February 2013	13.53
March 2013	13.72
April 2013	13.59
May 2013	14.48
June 2013	14.10
July 2013	14.51
August 2013	14.58
September 2013	14.84
October 2013	14.71
November 2013	15.03
December 2013	15.20
January 2014	15.42
February 2014	15.44
March 2014	15.60
April 2014	15.49
May 2014	15.45
June 2014	15.83
July 2014	15.97
August 2014	15.55
September 2014	15.89
October 2014	14.76
November 2014	16.19
December 2014	16.11
January 2015	16.23
February 2015	17.35
March 2015	17.27
April 2015	17.29
May 2015	17.09
June 2015	16.96
July 2015	16.98
August 2015	16.75
September 2015	16.09
October 2015	16.14
November 2015	16.80
December 2015	16.69
January 2016	15.29
February 2016	15.91
March 2016	16.71
April 2016	17.09
May 2016	16.67
June 2016	16.74
July 2016	17.39
August 2016	17.52
September 2016	16.92
October 2016	16.89
November 2016	16.95
December 2016	17.33
January 2017	17.27
February 2017	17.91
March 2017	18.04
April 2017	17.54
May 2017	17.50
June 2017	17.91
July 2017	18.23
August 2017	18.09
September 2017	18.18
October 2017	18.44
November 2017	18.15
December 2017	18.64
January 2018	18.72
February 2018	17.28
March 2018	17.37
April 2018	16.92
May 2018	16.68
June 2018	16.84
July 2018	17.03
August 2018	16.82
September 2018	17.21
October 2018	16.49
November 2018	15.72
December 2018	14.65
January 2019	15.45
February 2019	16.34
March 2019	16.60
April 2019	17.08
May 2019	16.66
June 2019	17.03
1 July 2019+	17.48

Note: Aggregate forward price-to-earnings ratio of S&P 500 firms. Data are based on expected earnings for 12 months ahead and extend through June 2019. Historical median is 14.81. The plus sign shows daily data corresponding to July 1, 2019.

Source: Federal Reserve Board staff calculations using Refinitiv (formerly Thomson Reuters), IBES Estimates.

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Developments Related to Financial Stability: Figure B. Business- and household-sector credit-to-GDP ratio

Quarterly
Ratio

Period	Business	Household
1980:Q1	0.4959	0.4798
1980:Q2	0.5020	0.4833
1980:Q3	0.5011	0.4836
1980:Q4	0.4939	0.4757
1981:Q1	0.4830	0.4617
1981:Q2	0.4953	0.4664
1981:Q3	0.4961	0.4597
1981:Q4	0.5055	0.4653
1982:Q1	0.5192	0.4719
1982:Q2	0.5241	0.4695
1982:Q3	0.5317	0.4656
1982:Q4	0.5312	0.4696
1983:Q1	0.5349	0.4630
1983:Q2	0.5299	0.4617
1983:Q3	0.5274	0.4610
1983:Q4	0.5261	0.4637
1984:Q1	0.5301	0.4640
1984:Q2	0.5384	0.4664
1984:Q3	0.5473	0.4690
1984:Q4	0.5594	0.4767
1985:Q1	0.5621	0.4914
1985:Q2	0.5690	0.4989
1985:Q3	0.5700	0.5069
1985:Q4	0.5787	0.5242
1986:Q1	0.5848	0.5288
1986:Q2	0.5960	0.5360
1986:Q3	0.6044	0.5456
1986:Q4	0.6151	0.5566
1987:Q1	0.6200	0.5562
1987:Q2	0.6198	0.5632
1987:Q3	0.6232	0.5680
1987:Q4	0.6210	0.5595
1988:Q1	0.6268	0.5672
1988:Q2	0.6276	0.5685
1988:Q3	0.6290	0.5718
1988:Q4	0.6310	0.5712
1989:Q1	0.6303	0.5713
1989:Q2	0.6317	0.5742
1989:Q3	0.6295	0.5784
1989:Q4	0.6343	0.5856
1990:Q1	0.6299	0.5890
1990:Q2	0.6264	0.5907
1990:Q3	0.6250	0.5938
1990:Q4	0.6288	0.6035
1991:Q1	0.6218	0.6097
1991:Q2	0.6125	0.6097
1991:Q3	0.5997	0.6069
1991:Q4	0.5888	0.6117
1992:Q1	0.5800	0.6103
1992:Q2	0.5693	0.6059
1992:Q3	0.5612	0.6049
1992:Q4	0.5509	0.6034
1993:Q1	0.5494	0.6052
1993:Q2	0.5480	0.6070
1993:Q3	0.5474	0.6108
1993:Q4	0.5426	0.6100
1994:Q1	0.5434	0.6113
1994:Q2	0.5399	0.6109
1994:Q3	0.5407	0.6136
1994:Q4	0.5389	0.6169
1995:Q1	0.5433	0.6210
1995:Q2	0.5489	0.6269
1995:Q3	0.5477	0.6307
1995:Q4	0.5493	0.6327
1996:Q1	0.5485	0.6404
1996:Q2	0.5463	0.6385
1996:Q3	0.5473	0.6394
1996:Q4	0.5436	0.6389
1997:Q1	0.5458	0.6414
1997:Q2	0.5464	0.6393
1997:Q3	0.5514	0.6399
1997:Q4	0.5555	0.6414
1998:Q1	0.5652	0.6465
1998:Q2	0.5771	0.6528
1998:Q3	0.5818	0.6519
1998:Q4	0.5854	0.6539
1999:Q1	0.5950	0.6603
1999:Q2	0.5996	0.6677
1999:Q3	0.6111	0.6709
1999:Q4	0.6102	0.6712
2000:Q1	0.6205	0.6828
2000:Q2	0.6221	0.6793
2000:Q3	0.6277	0.6904
2000:Q4	0.6314	0.6935
2001:Q1	0.6337	0.7019
2001:Q2	0.6364	0.7101
2001:Q3	0.6434	0.7331
2001:Q4	0.6458	0.7375
2002:Q1	0.6435	0.7463
2002:Q2	0.6400	0.7528
2002:Q3	0.6368	0.7638
2002:Q4	0.6361	0.7792
2003:Q1	0.6322	0.7916
2003:Q2	0.6256	0.8142
2003:Q3	0.6162	0.8172
2003:Q4	0.6053	0.8251
2004:Q1	0.6103	0.8355
2004:Q2	0.6051	0.8465
2004:Q3	0.6057	0.8539
2004:Q4	0.6042	0.8672
2005:Q1	0.6040	0.8701
2005:Q2	0.6081	0.8852
2005:Q3	0.6076	0.8934
2005:Q4	0.6129	0.9026
2006:Q1	0.6164	0.9133
2006:Q2	0.6246	0.9285
2006:Q3	0.6293	0.9416
2006:Q4	0.6404	0.9489
2007:Q1	0.6502	0.9511
2007:Q2	0.6630	0.9613
2007:Q3	0.6774	0.9660
2007:Q4	0.6890	0.9701
2008:Q1	0.7045	0.9829
2008:Q2	0.7106	0.9681
2008:Q3	0.7187	0.9740
2008:Q4	0.7335	0.9692
2009:Q1	0.7368	0.9758
2009:Q2	0.7331	0.9768
2009:Q3	0.7203	0.9704
2009:Q4	0.6950	0.9538
2010:Q1	0.6893	0.9423
2010:Q2	0.6745	0.9261
2010:Q3	0.6710	0.9116
2010:Q4	0.6576	0.9013
2011:Q1	0.6570	0.8994
2011:Q2	0.6526	0.8839
2011:Q3	0.6539	0.8728
2011:Q4	0.6508	0.8602
2012:Q1	0.6470	0.8489
2012:Q2	0.6473	0.8394
2012:Q3	0.6531	0.8343
2012:Q4	0.6593	0.8306
2013:Q1	0.6556	0.8216
2013:Q2	0.6599	0.8187
2013:Q3	0.6623	0.8108
2013:Q4	0.6586	0.8034
2014:Q1	0.6688	0.8038
2014:Q2	0.6653	0.7954
2014:Q3	0.6648	0.7857
2014:Q4	0.6716	0.7834
2015:Q1	0.6797	0.7799
2015:Q2	0.6843	0.7757
2015:Q3	0.6890	0.7719
2015:Q4	0.6966	0.7711
2016:Q1	0.7102	0.7729
2016:Q2	0.7091	0.7702
2016:Q3	0.7137	0.7714
2016:Q4	0.7099	0.7686
2017:Q1	0.7170	0.7681
2017:Q2	0.7215	0.7679
2017:Q3	0.7242	0.7637
2017:Q4	0.7269	0.7636
2018:Q1	0.7266	0.7615
2018:Q2	0.7358	0.7531
2018:Q3	0.7346	0.7507
2018:Q4	0.7343	0.7483
2019:Q1	0.7397	0.7454

Note: Data are quarterly. The shaded bars indicate periods of business recession as defined by the National Bureau of Economic Research: January 1980-July 1980, July 1981-November 1982, July 1990-March 1991, March 2001-November 2001, and December 2007-June 2009. GDP is gross domestic product.

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States"; Bureau of Economic Analysis via Haver Analytics, national income and product accounts, Table 1.1.5: Gross Domestic Product; Board staff calculations.

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Figure 36. Ratio of total commercial bank credit to nominal gross domestic product

Quarterly
Percent

Period	Ratio
2004:Q1	60.73
2004:Q2	61.50
2004:Q3	61.39
2004:Q4	61.43
2005:Q1	62.22
2005:Q2	62.94
2005:Q3	63.42
2005:Q4	63.67
2006:Q1	63.71
2006:Q2	64.78
2006:Q3	65.64
2006:Q4	65.71
2007:Q1	66.06
2007:Q2	66.46
2007:Q3	67.45
2007:Q4	68.32
2008:Q1	69.44
2008:Q2	69.29
2008:Q3	69.23
2008:Q4	71.24
2009:Q1	71.28
2009:Q2	70.65
2009:Q3	68.87
2009:Q4	66.20
2010:Q1	64.56
2010:Q2	62.65
2010:Q3	61.99
2010:Q4	61.46
2011:Q1	61.00
2011:Q2	59.99
2011:Q3	59.91
2011:Q4	59.77
2012:Q1	59.57
2012:Q2	59.58
2012:Q3	59.86
2012:Q4	59.88
2013:Q1	59.56
2013:Q2	59.54
2013:Q3	58.91
2013:Q4	58.51
2014:Q1	59.29
2014:Q2	59.13
2014:Q3	59.17
2014:Q4	59.56
2015:Q1	60.58
2015:Q2	60.89
2015:Q3	61.35
2015:Q4	62.27
2016:Q1	63.18
2016:Q2	63.47
2016:Q3	64.02
2016:Q4	64.42
2017:Q1	64.20
2017:Q2	63.97
2017:Q3	63.72
2017:Q4	63.46
2018:Q1	63.18
2018:Q2	62.54
2018:Q3	62.46
2018:Q4	62.40
2019:Q1	62.91

Source: Federal Reserve Board, Statistical Release H.8, "Assets and Liabilities of Commercial Banks in the United States"; Bureau of Economic Analysis via Haver Analytics.

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Figure 37. Profitability of bank holding companies

Quarterly
Percent, annual rate

Period	Return on assets	Return on equity
2004:Q1	1.24	15.99
2004:Q2	1.02	13.18
2004:Q3	1.21	14.79
2004:Q4	1.18	14.38
2005:Q1	1.14	13.57
2005:Q2	1.19	14.58
2005:Q3	1.30	15.37
2005:Q4	1.21	14.94
2006:Q1	1.10	13.72
2006:Q2	1.17	15.02
2006:Q3	1.31	15.74
2006:Q4	1.32	16.41
2007:Q1	0.97	12.06
2007:Q2	1.08	14.17
2007:Q3	0.82	9.83
2007:Q4	-0.13	-1.79
2008:Q1	0.09	1.65
2008:Q2	-0.14	-1.36
2008:Q3	-0.57	-8.46
2008:Q4	-1.60	-21.58
2009:Q1	0.00	0.61
2009:Q2	-0.07	-0.41
2009:Q3	0.19	1.55
2009:Q4	0.10	1.18
2010:Q1	0.39	4.92
2010:Q2	0.53	6.40
2010:Q3	0.45	4.52
2010:Q4	0.50	5.50
2011:Q1	0.59	6.50
2011:Q2	0.43	4.75
2011:Q3	0.94	9.69
2011:Q4	0.59	6.18
2012:Q1	0.58	5.85
2012:Q2	0.71	7.02
2012:Q3	0.73	7.01
2012:Q4	0.89	8.60
2013:Q1	0.81	7.71
2013:Q2	0.86	8.20
2013:Q3	0.82	7.72
2013:Q4	0.92	8.76
2014:Q1	0.85	7.87
2014:Q2	0.82	7.58
2014:Q3	0.87	7.96
2014:Q4	0.82	7.59
2015:Q1	0.96	8.70
2015:Q2	0.96	8.63
2015:Q3	0.98	8.76
2015:Q4	0.84	7.54
2016:Q1	0.81	7.06
2016:Q2	0.93	8.14
2016:Q3	0.96	8.69
2016:Q4	0.93	8.52
2017:Q1	0.95	8.49
2017:Q2	0.96	8.64
2017:Q3	0.97	8.72
2017:Q4	0.14	1.43
2018:Q1	1.12	10.12
2018:Q2	1.15	10.59
2018:Q3	1.21	11.11
2018:Q4	1.21	11.36
2019:Q1	1.20	10.71

Note: The data are quarterly and are seasonally adjusted.

Source: Federal Reserve Board, Form FR Y-9C, Consolidated Financial Statements for Bank Holding Companies.

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Figure 38. Real gross domestic product growth in selected advanced foreign economies

Percent, annual rate

Period	United Kingdom	Japan	Euro area	Canada
2015	2.21	1.03	2.01	-0.38
2016	1.70	1.19	2.09	1.81
2017	1.61	2.32	2.76	2.86
2018	1.39	0.27	1.18	1.59
2019:Q1	2.00	2.22	1.58	0.40

Source: For the United Kingdom, Office for National Statistics; for Japan, Cabinet Office, Government of Japan; for the euro area, Eurostat; for Canada, Statistics Canada; all via Haver Analytics.

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Figure 39. Consumer price inflation in selected advanced foreign economies

Monthly
12-month percent change

Period	United Kingdom	Japan	Euro area	Canada
January 2015	0.28	2.46	-0.60	0.97
February 2015	0.03	2.26	-0.29	0.97
March 2015	-0.01	2.36	-0.07	1.29
April 2015	-0.12	0.70	0.21	0.64
May 2015	0.11	0.50	0.60	0.96
June 2015	-0.04	0.40	0.50	1.12
July 2015	0.15	0.30	0.54	1.36
August 2015	0.01	0.20	0.44	1.27
September 2015	-0.12	0.00	0.20	1.03
October 2015	-0.11	0.20	0.39	1.03
November 2015	0.11	0.10	0.13	1.27
December 2015	0.20	0.10	0.25	1.51
January 2016	0.29	-0.10	0.33	1.92
February 2016	0.28	0.20	-0.12	1.43
March 2016	0.46	0.00	-0.04	1.27
April 2016	0.29	-0.30	-0.26	1.67
May 2016	0.31	-0.40	-0.12	1.58
June 2016	0.46	-0.30	0.05	1.42
July 2016	0.56	-0.40	0.17	1.10
August 2016	0.64	-0.50	0.22	1.18
September 2016	0.98	-0.40	0.40	1.42
October 2016	0.91	0.10	0.51	1.49
November 2016	1.17	0.40	0.59	1.26
December 2016	1.56	0.30	1.10	1.49
January 2017	1.82	0.40	1.72	2.04
February 2017	2.30	0.20	1.95	2.04
March 2017	2.32	0.20	1.53	1.57
April 2017	2.71	0.40	1.90	1.72
May 2017	2.87	0.50	1.38	1.25
June 2017	2.64	0.40	1.30	1.01
July 2017	2.63	0.50	1.34	1.25
August 2017	2.86	0.60	1.54	1.40
September 2017	2.96	0.70	1.56	1.48
October 2017	3.00	0.10	1.37	1.39
November 2017	3.09	0.60	1.53	2.17
December 2017	2.97	1.00	1.34	1.93
January 2018	2.99	1.40	1.30	1.69
February 2018	2.71	1.40	1.11	2.08
March 2018	2.46	1.10	1.40	2.31
April 2018	2.38	0.70	1.22	2.08
May 2018	2.42	0.70	1.95	2.31
June 2018	2.45	0.80	1.97	2.46
July 2018	2.47	1.00	2.19	2.77
August 2018	2.65	1.30	2.08	2.68
September 2018	2.42	1.20	2.08	2.37
October 2018	2.39	1.40	2.29	2.52
November 2018	2.31	0.69	1.92	1.75
December 2018	2.10	0.20	1.52	1.90
January 2019	1.85	0.20	1.39	1.44
February 2019	1.87	0.20	1.49	1.58
March 2019	1.91	0.49	1.40	1.88
April 2019	2.12	0.89	1.72	2.11
May 2019	2.02	0.69	1.22	2.33
June 2019	ND	ND	1.21	ND

Note: The data for the euro area incorporate the flash estimate for June 2019.

Source: For the United Kingdom, Office for National Statistics; for Japan, Ministry of International Affairs and Communications; for the euro area, Statistical Office of the European Communities; for Canada, Statistics Canada; all via Haver Analytics.

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Figure 40. Nominal 10-year government bond yields in selected advanced economies

Series: United States, United Kingdom, Germany, and Japan 10-year benchmark yields

Horizon: January 7, 2015, to July 1, 2019

Description: A line chart with four curves over January 7, 2015, to July 1, 2019. Units are percent, and data are weekly averages of daily benchmark yields. The curves generally move in the same direction from 2015 to 2016, with the United States and the United Kingdom tracking each other closely between about 1.75 and 2.5 and between about 1.5 and 2, respectively, until the middle of 2016, when the United Kingdom declines faster than the United States, reaching a low of about 0.5, compared with about 1.5 for the United States. At the same time, Germany fluctuates between about 0 and 1, with a peak of almost 1 in mid-2015. Japan stays mostly flat, between about negative 0.25 and 0.5. All four curves decline through the middle of 2016 but rise again in the second half of the year, with particularly strong increases in the United States and the United Kingdom. The curves are generally flat through 2017, with averages of about 0, 0.5, 1.25, and 2.5 for Japan, Germany, the United Kingdom, and the United States, respectively. The United States, United Kingdom, and Germany slightly increase at the beginning of 2018 and slightly fall in the second quarter, while Japan stays relatively constant. In 2018:Q3, each curve rises and then falls slightly. From 2018:Q4 until the end of the horizon, each curve displays a general downward trend, reaching lows of about negative 0.25, negative 0.5, 0.75, and 2 for Japan, Germany, the United Kingdom, and the United States, respectively. The United States remains above the other curves for the entire horizon. Generally, Japan remains below the other curves, except for when Germany dips below Japan in the first half of 2015, again in the second half of 2016, and toward the end of the horizon in 2019:Q2.

Note: The data are weekly averages of daily benchmark yields. The weekly data begin on Thursdays and extend through July 1, 2019.

Source: Bloomberg.

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Figure 41. Equity indexes for selected foreign economies

Series: Euro area, United Kingdom, and Japan

Horizon: January 7, 2015, to July 1, 2019

Description: A line chart with three curves over January 7, 2015, to July 1, 2019. Units are an index with the week ending January 7, 2015, equal to 100, and data are weekly averages of daily data. All of the curves begin at 100 and then fluctuate significantly but in 2015:H1 generally reach interim highs of about 110, 120, and 125 for the United Kingdom, Japan, and the euro area, respectively, before falling in 2015:Q4 to about 90, 90, and 95, respectively, by the start of 2016. The curves increase through the rest of 2016, 2017, and the first weeks of 2018, when they reach their highest levels over the time horizon of about 120, 140, and 130 for the United Kingdom, Japan, and the euro area, respectively. The curves all drop around 10 points in March 2018, climb steadily until June, and then broadly drop until November, reaching lows of about 105 each. The exception to this trend is Japan, which has a divergent peak in August. From a relative trough at the end of 2018, the curves all reach relative peaks in April of about 115, 120, and 125 for the United Kingdom, Japan, and the euro area, respectively. The curves dip slightly through the beginning of June and generally increase through the end of the horizon, with the United Kingdom and the euro area reaching about 115 and Japan reaching about 120.

Note: The data are weekly averages of daily data. The weekly data begin on Thursdays and extend through July 1, 2019.

Source: For euro area, DJ Euro Stoxx Index; for Japan, TOPIX Stock Index; for United Kingdom, FTSE 100 Stock Index; all via Bloomberg.

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Figure 42. Real gross domestic product growth in selected emerging market economies

Percent, annual rate

Period	China	Korea	Mexico	Brazil
2015	6.78	3.41	2.78	-5.47
2016	6.80	2.68	3.28	-2.27
2017	6.67	2.81	1.52	2.24
2018	6.36	2.97	1.65	1.12
2019:Q1	7.26	-1.47	-0.69	-0.62

Note: The data for China are seasonally adjusted by Board staff. The data for Korea, Mexico, and Brazil are seasonally adjusted by their respective government agencies.

Source: For China, China National Bureau of Statistics; for Korea, Bank of Korea; for Mexico, Instituto Nacional de Estadistica y Geografia; for Brazil, Instituto Brasileiro de Geografia e Estatistica; all via Haver Analytics.

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The Persistent Slowdown in Global Trade and Manufacturing: Figure A. Change in global trade, industrial production, and GDP

Quarterly
Percent change from year earlier

Period	Global IP	G-20 GDP	Global imports
2000:Q1	5.34	4.90	11.80
2000:Q2	6.69	5.20	12.62
2000:Q3	6.17	4.70	13.26
2000:Q4	4.88	4.00	11.91
2001:Q1	2.76	3.20	7.07
2001:Q2	-0.53	2.50	1.42
2001:Q3	-2.40	1.90	-3.31
2001:Q4	-4.07	1.60	-5.59
2002:Q1	-2.57	1.90	-2.44
2002:Q2	0.17	2.40	2.05
2002:Q3	1.97	3.10	6.33
2002:Q4	3.62	3.20	7.75
2003:Q1	4.01	3.20	7.24
2003:Q2	2.58	3.00	4.95
2003:Q3	2.69	3.50	4.41
2003:Q4	4.31	4.40	8.02
2004:Q1	4.83	4.70	9.46
2004:Q2	5.89	5.10	12.77
2004:Q3	5.78	4.70	11.62
2004:Q4	4.50	4.30	9.54
2005:Q1	4.45	4.40	7.05
2005:Q2	4.16	4.50	6.65
2005:Q3	3.82	4.60	6.56
2005:Q4	4.40	4.90	7.31
2006:Q1	4.09	5.20	9.50
2006:Q2	4.46	5.10	8.25
2006:Q3	4.81	5.00	8.53
2006:Q4	4.59	5.10	7.51
2007:Q1	4.75	5.10	6.82
2007:Q2	4.76	5.30	5.83
2007:Q3	5.08	5.30	6.24
2007:Q4	5.29	5.30	4.67
2008:Q1	5.20	4.60	4.59
2008:Q2	3.53	3.80	2.83
2008:Q3	0.76	2.70	1.41
2008:Q4	-5.62	-0.10	-6.30
2009:Q1	-12.34	-2.40	-18.14
2009:Q2	-10.90	-1.90	-17.40
2009:Q3	-7.11	-0.60	-13.33
2009:Q4	0.34	2.10	-2.66
2010:Q1	9.21	4.90	12.52
2010:Q2	10.10	5.40	17.10
2010:Q3	8.26	5.40	13.45
2010:Q4	7.14	5.30	10.37
2011:Q1	5.88	4.90	8.66
2011:Q2	3.86	4.40	3.99
2011:Q3	4.41	3.90	3.32
2011:Q4	3.38	3.50	1.26
2012:Q1	3.32	3.50	-0.07
2012:Q2	3.45	3.20	1.65
2012:Q3	1.99	3.10	1.79
2012:Q4	1.79	2.70	1.91
2013:Q1	1.21	2.80	2.83
2013:Q2	1.92	3.20	2.03
2013:Q3	2.68	3.50	1.70
2013:Q4	3.30	3.80	2.38
2014:Q1	3.73	3.60	2.64
2014:Q2	3.35	3.40	2.22
2014:Q3	3.06	3.40	2.93
2014:Q4	2.97	3.30	3.20
2015:Q1	2.06	3.60	2.17
2015:Q2	1.79	3.70	1.51
2015:Q3	1.74	3.50	1.66
2015:Q4	1.09	3.30	1.33
2016:Q1	1.60	3.20	0.58
2016:Q2	1.55	3.20	1.74
2016:Q3	1.72	3.10	1.38
2016:Q4	2.85	3.50	2.41
2017:Q1	2.80	3.60	4.77
2017:Q2	3.69	3.70	5.08
2017:Q3	3.92	4.00	5.40
2017:Q4	3.73	4.00	5.73
2018:Q1	3.99	4.00	4.99
2018:Q2	3.33	3.80	4.15
2018:Q3	2.93	3.60	4.14
2018:Q4	2.13	3.30	1.50
2019:Q1	1.52	3.30	0.28

Note: Imports and industrial production (IP) are quarterly averages of monthly data. G-20 GDP is seasonally adjusted gross domestic product (GDP) volume estimates at 2010 purchasing power parities (PPPs) for the Group of 20 economies.

Source: Netherlands Bureau for Economic Policy Analysis via Haver Analytics; Organisation for Economic Co-operation and Development, OECD.Stat.

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The Persistent Slowdown in Global Trade and Manufacturing: Figure B. Trade policy uncertainty

Monthly
Index

Period	Trade policy uncertainty
January 2013	32.42
February 2013	43.18
March 2013	41.65
April 2013	20.67
May 2013	40.02
June 2013	31.65
July 2013	31.35
August 2013	23.79
September 2013	33.04
October 2013	38.64
November 2013	28.12
December 2013	25.27
January 2014	29.37
February 2014	36.05
March 2014	30.89
April 2014	28.90
May 2014	22.82
June 2014	32.58
July 2014	26.40
August 2014	26.44
September 2014	25.23
October 2014	24.81
November 2014	30.73
December 2014	35.19
January 2015	34.70
February 2015	30.08
March 2015	25.47
April 2015	25.05
May 2015	44.91
June 2015	49.41
July 2015	33.94
August 2015	40.87
September 2015	32.54
October 2015	60.17
November 2015	36.48
December 2015	41.41
January 2016	42.52
February 2016	34.10
March 2016	58.92
April 2016	54.17
May 2016	60.82
June 2016	82.91
July 2016	50.18
August 2016	48.89
September 2016	48.76
October 2016	52.08
November 2016	115.61
December 2016	113.75
January 2017	174.56
February 2017	133.24
March 2017	100.12
April 2017	109.02
May 2017	62.95
June 2017	65.79
July 2017	72.35
August 2017	61.73
September 2017	58.45
October 2017	63.61
November 2017	71.58
December 2017	70.35
January 2018	85.50
February 2018	64.78
March 2018	266.09
April 2018	180.26
May 2018	154.34
June 2018	231.89
July 2018	249.66
August 2018	230.84
September 2018	154.64
October 2018	163.73
November 2018	147.47
December 2018	168.67
January 2019	144.30
February 2019	130.22
March 2019	101.84
April 2019	100.57
May 2019	195.75
June 2019	276.16

Note: The data extend through June 2019. At an index value of 100, 1 percent of news articles contain references to trade policy uncertainty.

Source: Dario Caldara, Matteo Iacoviello, Patrick Molligo, Andrea Prestipino, and Andrea Raffo (2019), "The Economic Effects of Trade Policy Uncertainty," manuscript presented at the 91st meeting of the Carnegie-Rochester-NYU Conference on Public Policy, held at New York University, New York, April 12–13.

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The Persistent Slowdown in Global Trade and Manufacturing: Figure C. Global semiconductor sales

Series: Global semiconductor sales

Horizon: January 2008 to May 2019

Description: A line chart with a curve over January 2008 to May 2019. The data are 3-month moving averages and are measured in billions of dollars. The series starts at around 20, declines to slightly below 15 at the beginning of 2009, increases to around 25 in mid-2010, remains flat through mid-2013, fluctuates between 25 and 30 through the start of 2017, generally increases to slightly above 40 by late 2018, decreases to a relative trough around 32 in early 2019, and ticks up slightly to about 33 at the end of the series.

Note: The semiconductor data are 3-month moving averages.

Source: Semiconductor Industry Association via Haver Analytics.

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Figure 43. Emerging market mutual fund flows and spreads

Series: EMBI+, bond fund flows, and equity fund flows

Horizon: January 1, 2015, to July 1, 2019

Description: A line curve and stacked bar chart over January 1, 2015, to July 1, 2019. The EMBI+ data are weekly, in basis points. The curve starts at about 420, fluctuates in a range of about 360 to 460 through mid-2016, decreases to about 320 by late 2017, increases to about 440 by late 2018, decreases to about 380 at the start of 2019, increases to just under 440 by mid-2019, and ends around 400. Bond fund flows and equity fund flows are plotted as bars. Data are in billions of dollars and are quarterly. Flows are mostly negative from 2015:Q1 through 2016:Q2, in 2016:Q4, and from 2018:Q2 through 2018:Q3, with totals of about -5 to -20. An exception is 2015:Q3, with a total of about -60. Flows are positive in 2016:Q3 and from 2017:Q1 through 2018:Q1, with totals between about 25 and 50. In 2018:Q4, bond fund flows are about -10, but equity fund flows are about 15. In 2019:Q1, flows are positive: Both bond fund flows and equity fund flows are about 20. However, in 2019:Q2, equity fund flows are about -25 and bond fund flows are about 5.

Note: The bond and equity fund flows data are quarterly sums of weekly data from January 1, 2015, to June 26, 2019. The fund flows data exclude funds located in China. The J.P. Morgan Emerging Markets Bond Index Plus (EMBI+) data are weekly averages of daily data. The weekly data begin on Thursdays and extend through June 28, 2019.

Source: For bond and equity fund flows, EPFR Global; for EMBI+, J.P. Morgan Emerging Markets Bond Index Plus via Bloomberg.

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Figure 44. U.S. dollar exchange rate indexes

Weekly
Week ending January 9, 2015 = 100

Period	British pound	Broad dollar	Euro	Chinese renminbi
7 January 2015	100.00	100.00	100.00	100.00
14 January 2015	100.28	99.87	100.93	99.86
21 January 2015	100.44	100.07	103.09	99.87
28 January 2015	100.70	100.92	105.14	100.38
4 February 2015	100.82	101.70	104.92	100.64
11 February 2015	99.75	101.74	105.14	100.52
18 February 2015	98.84	101.62	104.68	100.58
25 February 2015	98.47	101.92	104.98	100.69
4 March 2015	98.91	102.31	106.67	100.91
11 March 2015	100.84	104.41	110.43	100.81
18 March 2015	102.92	105.03	112.55	100.64
25 March 2015	102.26	103.45	109.92	99.89
1 April 2015	102.51	103.60	110.11	99.89
8 April 2015	102.08	102.81	109.30	99.74
15 April 2015	103.31	103.82	112.22	99.94
22 April 2015	101.74	103.00	110.86	99.76
29 April 2015	99.72	102.08	108.94	99.84
6 May 2015	100.06	101.91	106.41	99.86
13 May 2015	97.88	101.54	105.92	99.92
20 May 2015	97.15	101.38	105.74	99.87
27 May 2015	98.33	102.79	108.58	99.79
3 June 2015	99.48	103.25	107.94	99.77
10 June 2015	98.99	103.05	106.07	99.86
17 June 2015	97.50	102.60	105.95	99.93
24 June 2015	96.24	102.23	105.54	99.92
1 July 2015	96.79	103.06	106.89	99.88
8 July 2015	98.09	103.86	107.92	99.93
15 July 2015	98.00	104.10	108.04	99.94
22 July 2015	97.53	105.01	109.56	99.95
29 July 2015	97.65	105.24	108.10	99.94
5 August 2015	97.46	105.77	108.93	99.95
12 August 2015	97.82	106.02	108.16	100.88
19 August 2015	97.35	106.58	107.56	102.93
26 August 2015	97.12	106.67	104.71	103.02
2 September 2015	99.04	107.03	106.24	102.66
9 September 2015	99.42	107.34	107.00	102.42
16 September 2015	98.56	106.94	105.56	102.55
23 September 2015	98.53	107.11	106.13	102.55
30 September 2015	100.17	107.82	106.28	102.51
7 October 2015	99.95	106.87	106.08	102.31
14 October 2015	99.22	105.79	104.89	102.16
21 October 2015	98.36	105.71	104.94	102.23
28 October 2015	99.11	106.72	107.75	102.27
4 November 2015	98.83	106.88	108.70	101.88
11 November 2015	100.49	108.02	110.73	102.05
18 November 2015	100.01	108.52	111.48	102.61
25 November 2015	100.31	108.21	111.89	102.80
2 December 2015	101.26	108.65	112.60	102.86
9 December 2015	100.82	108.43	109.40	103.11
16 December 2015	100.63	109.08	108.73	103.92
23 December 2015	102.26	109.72	109.53	104.29
30 December 2015	102.33	109.53	108.96	104.31
6 January 2016	103.61	110.41	110.47	104.99
13 January 2016	104.84	111.31	109.73	105.89
20 January 2016	106.67	112.08	109.28	105.95
27 January 2016	106.58	112.01	110.00	105.90
3 February 2016	105.81	111.54	109.12	105.86
10 February 2016	105.03	110.47	106.41	105.75
17 February 2016	105.78	110.53	106.27	105.37
24 February 2016	107.42	110.33	107.85	104.99
2 March 2016	109.05	110.38	109.34	105.35
9 March 2016	106.97	109.12	108.36	104.85
16 March 2016	106.63	108.71	107.14	104.72
23 March 2016	106.03	107.21	105.94	104.35
30 March 2016	106.82	107.72	106.31	104.63
6 April 2016	106.85	106.86	104.64	104.17
13 April 2016	107.27	106.70	104.80	104.05
20 April 2016	106.50	106.27	105.35	104.15
27 April 2016	105.07	106.44	105.59	104.49
4 May 2016	104.34	105.70	104.08	104.32
11 May 2016	105.23	106.98	104.47	104.69
18 May 2016	105.14	107.55	105.29	105.00
25 May 2016	104.35	108.62	106.61	105.45
1 June 2016	104.47	108.61	106.87	105.72
8 June 2016	104.90	107.65	105.34	105.71
15 June 2016	106.60	107.81	105.81	105.83
22 June 2016	105.08	107.70	105.92	105.97
29 June 2016	111.27	108.42	107.04	106.61
6 July 2016	115.98	108.57	107.57	107.31
13 July 2016	116.53	108.70	107.73	107.61
20 July 2016	115.04	108.70	107.86	107.64
27 July 2016	115.82	109.36	108.51	107.41
3 August 2016	114.72	108.43	106.76	106.85
10 August 2016	116.53	108.28	107.26	107.01
17 August 2016	117.36	107.35	106.30	106.73
24 August 2016	115.66	107.29	105.43	106.95
31 August 2016	115.85	108.18	106.47	107.39
7 September 2016	114.06	107.93	106.38	107.37
14 September 2016	114.78	108.46	106.04	107.43
21 September 2016	116.45	109.30	106.59	107.35
28 September 2016	116.95	108.94	106.20	107.34
5 October 2016	118.21	108.87	106.26	107.33
12 October 2016	122.95	109.70	107.43	107.74
19 October 2016	124.34	109.74	108.41	108.38
26 October 2016	124.53	110.05	109.39	108.91
2 November 2016	124.52	110.35	108.46	108.99
9 November 2016	122.17	110.10	107.91	108.97
16 November 2016	122.01	112.92	110.83	110.17
23 November 2016	122.40	113.69	112.41	110.92
30 November 2016	122.02	113.98	112.54	111.07
7 December 2016	120.14	113.36	111.43	110.75
14 December 2016	120.27	113.18	112.34	111.02
21 December 2016	122.68	114.72	114.44	111.83
28 December 2016	124.07	115.10	114.23	111.85
4 January 2017	123.84	114.91	113.73	111.82
11 January 2017	124.32	114.64	112.88	111.37
18 January 2017	123.90	113.90	111.76	110.57
25 January 2017	121.80	113.61	111.26	110.49
1 February 2017	121.07	112.98	111.23	110.69
8 February 2017	121.63	112.28	110.96	110.60
15 February 2017	121.76	112.52	112.29	110.60
22 February 2017	122.10	112.54	112.53	110.56
1 March 2017	122.14	112.17	112.53	110.55
8 March 2017	124.43	112.86	112.94	111.03
15 March 2017	124.78	112.81	112.05	111.21
22 March 2017	122.54	111.34	110.71	111.00
29 March 2017	121.65	110.84	110.22	110.74
5 April 2017	121.82	111.10	111.62	110.84
12 April 2017	122.10	111.29	112.26	110.97
19 April 2017	120.34	110.77	111.78	110.79
26 April 2017	118.70	110.94	110.17	110.82
3 May 2017	117.76	111.03	109.37	110.96
10 May 2017	117.58	111.33	109.10	111.10
17 May 2017	117.84	110.67	108.43	110.91
24 May 2017	117.09	110.09	106.58	110.84
31 May 2017	118.11	109.75	106.43	110.19
7 June 2017	117.84	109.34	106.00	109.46
14 June 2017	119.05	109.04	106.29	109.39
21 June 2017	119.61	109.31	106.88	109.75
28 June 2017	119.12	109.03	106.06	109.81
5 July 2017	117.31	108.64	104.73	109.30
12 July 2017	117.96	108.50	104.50	109.43
19 July 2017	116.78	107.27	103.85	108.88
26 July 2017	116.88	106.70	102.39	108.73
2 August 2017	115.53	106.37	101.21	108.29
9 August 2017	116.70	106.69	101.22	107.98
16 August 2017	117.61	106.69	101.40	107.37
23 August 2017	118.35	106.37	101.27	107.28
30 August 2017	117.96	105.82	100.02	106.56
6 September 2017	117.12	105.43	100.13	105.44
13 September 2017	115.27	104.69	99.52	104.82
20 September 2017	112.60	105.03	99.75	105.67
27 September 2017	112.86	105.85	100.55	106.47
4 October 2017	114.15	106.70	101.29	107.11
11 October 2017	115.62	106.93	101.27	106.50
18 October 2017	115.00	106.99	101.01	106.24
25 October 2017	115.34	107.52	101.13	106.68
1 November 2017	115.19	108.25	102.47	106.80
8 November 2017	116.04	108.16	102.68	106.68
15 November 2017	115.82	107.99	101.76	106.77
22 November 2017	114.91	107.43	101.30	106.60
29 November 2017	114.07	106.63	100.22	106.28
6 December 2017	112.99	106.91	100.58	106.47
13 December 2017	113.76	107.64	101.31	106.54
20 December 2017	113.65	107.44	100.93	106.28
27 December 2017	113.67	107.38	100.44	105.66
3 January 2018	112.46	106.44	99.24	104.75
10 January 2018	112.34	106.06	99.42	104.65
17 January 2018	110.97	105.23	98.05	103.94
24 January 2018	108.87	104.39	97.13	102.97
31 January 2018	107.42	103.42	96.02	101.65
7 February 2018	108.30	103.81	96.13	101.18
14 February 2018	109.62	104.51	96.94	101.81
21 February 2018	108.48	103.95	96.17	102.04
28 February 2018	109.32	104.51	97.13	101.85
7 March 2018	109.97	104.73	96.66	101.99
14 March 2018	109.40	104.49	96.58	101.82
21 March 2018	108.68	104.90	96.97	101.83
28 March 2018	107.48	104.13	96.35	101.35
4 April 2018	108.28	104.17	96.99	101.19
11 April 2018	107.77	104.08	96.85	101.27
18 April 2018	106.57	103.74	96.55	101.05
25 April 2018	108.50	105.09	97.34	101.45
2 May 2018	110.73	106.05	98.92	102.03
9 May 2018	112.23	107.04	100.09	102.38
16 May 2018	112.46	107.18	100.23	102.25
23 May 2018	113.19	107.94	101.35	102.62
30 May 2018	114.23	108.15	102.31	103.02
6 June 2018	113.93	108.34	101.91	103.09
13 June 2018	113.48	108.55	101.09	102.97
20 June 2018	114.80	109.72	102.73	103.74
27 June 2018	114.94	109.85	102.45	105.28
4 July 2018	115.67	110.02	102.52	106.80
11 July 2018	114.88	109.16	101.67	106.86
18 July 2018	115.40	109.45	102.11	107.71
25 July 2018	116.12	109.77	102.12	109.09
1 August 2018	115.89	109.21	102.06	109.54
8 August 2018	117.29	109.51	102.83	110.04
15 August 2018	119.17	110.82	104.50	110.64
22 August 2018	118.85	110.58	103.92	110.40
29 August 2018	117.96	109.99	102.27	109.82
5 September 2018	117.69	110.87	102.71	110.03
12 September 2018	117.11	110.94	102.74	110.28
19 September 2018	115.83	110.28	102.08	110.32
26 September 2018	115.62	110.01	101.40	110.41
3 October 2018	116.70	110.34	102.88	110.62
10 October 2018	115.98	111.00	103.59	110.99
17 October 2018	115.47	110.57	103.04	111.25
24 October 2018	117.07	111.43	103.95	111.68
31 October 2018	118.88	112.23	104.86	112.00
7 November 2018	116.68	111.93	104.51	111.29
14 November 2018	116.69	112.62	105.18	111.84
21 November 2018	118.80	112.43	104.66	111.66
28 November 2018	119.04	113.00	105.42	111.83
5 December 2018	119.24	112.43	105.02	111.11
12 December 2018	120.21	112.72	104.93	110.86
19 December 2018	120.48	112.72	104.98	110.96
26 December 2018	120.06	112.45	104.45	110.92
2 January 2019	120.03	112.08	104.42	110.57
9 January 2019	119.54	111.11	104.13	110.26
16 January 2019	118.77	110.47	104.13	108.89
23 January 2019	117.30	110.89	104.81	109.24
30 January 2019	115.99	110.47	104.56	108.54
6 February 2019	116.64	110.21	104.30	108.38
13 February 2019	117.88	111.01	105.38	108.84
20 February 2019	117.96	111.16	105.57	108.89
27 February 2019	115.66	110.50	105.00	107.83
6 March 2019	115.28	110.92	105.13	107.90
13 March 2019	116.03	111.42	105.94	108.07
20 March 2019	114.82	110.74	105.20	108.00
27 March 2019	115.40	110.91	105.51	108.04
3 April 2019	116.14	111.31	106.25	108.14
10 April 2019	116.50	111.01	105.99	108.10
17 April 2019	116.38	110.83	105.58	107.94
24 April 2019	117.22	111.22	106.16	108.07
1 May 2019	117.23	111.68	106.62	108.39
8 May 2019	116.41	111.74	106.54	108.76
15 May 2019	117.35	112.11	106.23	110.33
22 May 2019	119.45	112.55	106.77	111.13
29 May 2019	120.08	112.57	106.73	111.19
5 June 2019	120.25	112.61	106.50	111.14
12 June 2019	119.66	111.93	105.40	111.29
19 June 2019	120.68	112.14	106.19	111.29
26 June 2019	119.67	111.04	104.98	110.59
1 July 2019	120.01	111.01	105.03	110.48

Note: The data, which are in foreign currency units per dollar, are weekly averages of daily data. The weekly data begin on Thursdays and extend through July 1, 2019. As indicated by the arrow, increases in the data represent U.S. dollar appreciation, and decreases represent U.S. dollar depreciation.

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

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Last Update: July 18, 2019

Monetary Policy Report – July 2019