Board of Governors of the Federal Reserve System

bond yields declined 20 basis points. Yields on Treasury bonds rose appreciably...bond market rally.4 3. Although low levels of excess collateral for Federal

bond yields 5 to 15 basis points, while rates on fixed-rate mortgages ...bond and stock mutual funds. Indeed, the backup in intermediate- and long-term

bond issuance by nonfinancial corporations in April again was at a record...bond issues; equity retirements, though continuing, appear to be slowing

bond yields generally -5- have declined about 15 to 25 basis points, as...bond yields. Although stock prices fell initially on the announcement

buy or sell U.S. Government securities in the open market, from or to

buying - 4 - into a falling market, as weak demand for homes, the substantial

Bond issuance in 2014 was at record levels due to the continued low level...Bond issuance in 2015 is expected to decline only slightly. • Much of

APPENDIX Notes for FOMC Meeting May 19,1992 William J. McDonough Dollar exchange rates from the time of your last meeting until early last week

Authorized for public release by the FOMC Secretariat on 02/09/2018 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Division of Monetary Affairs

MEMORANDUM OF DISCUSSION A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve