11/11/96

The data are 1,809 weekly observations, January 5, 1962 -- August 30,
1996, on the ten year constant maturity Treasury Bond rate.  Friday
rates are used except when unavailable due to a holiday, in which case
the Thursday rate is used.

Yields on Treasury securities at 'constant maturity' are interpolated by
the U.S.  Treasury from the daily yield curve.  This curve, which
relates the yield on a security to its time to maturity, is based on the
closing market bid yields on actively traded Treasury securities in the
over-the-counter market.  These market yields are calculated from
composites of quotations reported by five leading U.S.  Government
securities dealers to the Federal Reserve Bank of New York.  The
constant maturity yield values are read from the yield curve at fixed
maturities, currently 1, 2, 3, 5, 7, 10, and 30 years.  This method
provides a yield for a 10-year maturity, for example, even if no
outstanding security has exactly 10 years remaining to maturity.