Title: Index of Yields of High Grade Corporate and Municipal Bonds for United States Series ID: M13021USM156NNBR Source: National Bureau of Economic Research Release: NBER Macrohistory Database (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Monthly Units: Percent Date Range: 1900-01-01 to 1967-12-01 Last Updated: 2012-08-20 8:18 AM CDT Notes: Source: Standard And Poor'S Corporation, Data For 1900-1928: Standard Statistics Co., Base Book; Standard Statistical Bulletin, January 1932, P. 125. Data For 1929-1967: Computed By NBER By Taking A Simple Average Of Four Series, All Based On Standard And Poor'S Data -- Series 13023 (Municipal Bonds); Series 13024 (Railroad Bonds); Series 13025 (Public Utilities); Series 13026 (Industrial Bonds). This NBER data series m13021 appears on the NBER website in Chapter 13 at http://www.nber.org/databases/macrohistory/contents/chapter13.html. NBER Indicator: m13021 DATE VALUE 1900-01-01 4.16 1900-02-01 4.15 1900-03-01 4.13 1900-04-01 4.12 1900-05-01 4.14 1900-06-01 4.15 1900-07-01 4.16 1900-08-01 4.16 1900-09-01 4.17 1900-10-01 4.17 1900-11-01 4.14 1900-12-01 4.10 1901-01-01 4.10 1901-02-01 4.09 1901-03-01 4.06 1901-04-01 4.05 1901-05-01 4.06 1901-06-01 4.04 1901-07-01 4.06 1901-08-01 4.08 1901-09-01 4.07 1901-10-01 4.08 1901-11-01 4.07 1901-12-01 4.08 1902-01-01 4.05 1902-02-01 4.05 1902-03-01 4.05 1902-04-01 4.01 1902-05-01 4.02 1902-06-01 4.03 1902-07-01 4.04 1902-08-01 4.06 1902-09-01 4.07 1902-10-01 4.09 1902-11-01 4.11 1902-12-01 4.11 1903-01-01 4.12 1903-02-01 4.11 1903-03-01 4.14 1903-04-01 4.17 1903-05-01 4.17 1903-06-01 4.21 1903-07-01 4.26 1903-08-01 4.32 1903-09-01 4.33 1903-10-01 4.32 1903-11-01 4.35 1903-12-01 4.33 1904-01-01 4.32 1904-02-01 4.31 1904-03-01 4.33 1904-04-01 4.28 1904-05-01 4.28 1904-06-01 4.25 1904-07-01 4.22 1904-08-01 4.20 1904-09-01 4.19 1904-10-01 4.15 1904-11-01 4.16 1904-12-01 4.12 1905-01-01 4.08 1905-02-01 4.06 1905-03-01 4.06 1905-04-01 4.07 1905-05-01 4.07 1905-06-01 4.07 1905-07-01 4.06 1905-08-01 4.06 1905-09-01 4.05 1905-10-01 4.06 1905-11-01 4.07 1905-12-01 4.06 1906-01-01 4.07 1906-02-01 4.08 1906-03-01 4.11 1906-04-01 4.12 1906-05-01 4.15 1906-06-01 4.16 1906-07-01 4.19 1906-08-01 4.23 1906-09-01 4.25 1906-10-01 4.24 1906-11-01 4.24 1906-12-01 4.26 1907-01-01 4.26 1907-02-01 4.30 1907-03-01 4.34 1907-04-01 4.36 1907-05-01 4.38 1907-06-01 4.45 1907-07-01 4.47 1907-08-01 4.55 1907-09-01 4.59 1907-10-01 4.68 1907-11-01 4.87 1907-12-01 4.83 1908-01-01 4.75 1908-02-01 4.69 1908-03-01 4.70 1908-04-01 4.65 1908-05-01 4.59 1908-06-01 4.56 1908-07-01 4.55 1908-08-01 4.50 1908-09-01 4.47 1908-10-01 4.45 1908-11-01 4.40 1908-12-01 4.34 1909-01-01 4.34 1909-02-01 4.32 1909-03-01 4.34 1909-04-01 4.32 1909-05-01 4.32 1909-06-01 4.32 1909-07-01 4.32 1909-08-01 4.32 1909-09-01 4.33 1909-10-01 4.34 1909-11-01 4.35 1909-12-01 4.36 1910-01-01 4.35 1910-02-01 4.37 1910-03-01 4.38 1910-04-01 4.42 1910-05-01 4.44 1910-06-01 4.47 1910-07-01 4.49 1910-08-01 4.50 1910-09-01 4.48 1910-10-01 4.46 1910-11-01 4.46 1910-12-01 4.45 1911-01-01 4.43 1911-02-01 4.43 1911-03-01 4.43 1911-04-01 4.43 1911-05-01 4.40 1911-06-01 4.41 1911-07-01 4.41 1911-08-01 4.43 1911-09-01 4.45 1911-10-01 4.45 1911-11-01 4.45 1911-12-01 4.44 1912-01-01 4.44 1912-02-01 4.42 1912-03-01 4.43 1912-04-01 4.45 1912-05-01 4.44 1912-06-01 4.44 1912-07-01 4.44 1912-08-01 4.45 1912-09-01 4.46 1912-10-01 4.48 1912-11-01 4.51 1912-12-01 4.51 1913-01-01 4.51 1913-02-01 4.52 1913-03-01 4.55 1913-04-01 4.60 1913-05-01 4.64 1913-06-01 4.69 1913-07-01 4.72 1913-08-01 4.70 1913-09-01 4.68 1913-10-01 4.69 1913-11-01 4.70 1913-12-01 4.72 1914-01-01 4.64 1914-02-01 4.58 1914-03-01 4.56 1914-04-01 4.57 1914-05-01 4.57 1914-06-01 4.54 1914-07-01 4.58 1914-08-01 4.60 1914-09-01 4.61 1914-10-01 4.63 1914-11-01 4.65 1914-12-01 4.66 1915-01-01 4.68 1915-02-01 4.67 1915-03-01 4.68 1915-04-01 4.65 1915-05-01 4.67 1915-06-01 4.70 1915-07-01 4.71 1915-08-01 4.71 1915-09-01 4.71 1915-10-01 4.66 1915-11-01 4.57 1915-12-01 4.55 1916-01-01 4.53 1916-02-01 4.52 1916-03-01 4.53 1916-04-01 4.54 1916-05-01 4.55 1916-06-01 4.55 1916-07-01 4.56 1916-08-01 4.56 1916-09-01 4.54 1916-10-01 4.50 1916-11-01 4.48 1916-12-01 4.49 1917-01-01 4.45 1917-02-01 4.51 1917-03-01 4.54 1917-04-01 4.63 1917-05-01 4.72 1917-06-01 4.77 1917-07-01 4.81 1917-08-01 4.85 1917-09-01 4.96 1917-10-01 5.01 1917-11-01 5.10 1917-12-01 5.19 1918-01-01 5.19 1918-02-01 5.16 1918-03-01 5.20 1918-04-01 5.28 1918-05-01 5.25 1918-06-01 5.27 1918-07-01 5.28 1918-08-01 5.31 1918-09-01 5.35 1918-10-01 5.30 1918-11-01 5.08 1918-12-01 5.08 1919-01-01 5.14 1919-02-01 5.14 1919-03-01 5.18 1919-04-01 5.20 1919-05-01 5.17 1919-06-01 5.17 1919-07-01 5.20 1919-08-01 5.30 1919-09-01 5.32 1919-10-01 5.28 1919-11-01 5.39 1919-12-01 5.48 1920-01-01 5.50 1920-02-01 5.64 1920-03-01 5.65 1920-04-01 5.81 1920-05-01 6.00 1920-06-01 6.10 1920-07-01 6.11 1920-08-01 6.06 1920-09-01 5.95 1920-10-01 5.81 1920-11-01 5.86 1920-12-01 6.03 1921-01-01 5.80 1921-02-01 5.88 1921-03-01 5.91 1921-04-01 5.90 1921-05-01 5.91 1921-06-01 6.00 1921-07-01 5.97 1921-08-01 5.85 1921-09-01 5.76 1921-10-01 5.69 1921-11-01 5.50 1921-12-01 5.29 1922-01-01 5.17 1922-02-01 5.13 1922-03-01 5.07 1922-04-01 4.97 1922-05-01 4.94 1922-06-01 4.93 1922-07-01 4.87 1922-08-01 4.81 1922-09-01 4.77 1922-10-01 4.82 1922-11-01 4.90 1922-12-01 4.87 1923-01-01 4.86 1923-02-01 4.89 1923-03-01 4.97 1923-04-01 5.00 1923-05-01 4.98 1923-06-01 4.98 1923-07-01 5.01 1923-08-01 4.99 1923-09-01 5.02 1923-10-01 5.02 1923-11-01 5.01 1923-12-01 5.01 1924-01-01 4.95 1924-02-01 4.95 1924-03-01 4.96 1924-04-01 4.95 1924-05-01 4.90 1924-06-01 4.84 1924-07-01 4.80 1924-08-01 4.80 1924-09-01 4.78 1924-10-01 4.77 1924-11-01 4.76 1924-12-01 4.78 1925-01-01 4.78 1925-02-01 4.76 1925-03-01 4.76 1925-04-01 4.72 1925-05-01 4.67 1925-06-01 4.66 1925-07-01 4.69 1925-08-01 4.72 1925-09-01 4.72 1925-10-01 4.73 1925-11-01 4.74 1925-12-01 4.70 1926-01-01 4.66 1926-02-01 4.63 1926-03-01 4.63 1926-04-01 4.61 1926-05-01 4.58 1926-06-01 4.58 1926-07-01 4.60 1926-08-01 4.59 1926-09-01 4.60 1926-10-01 4.60 1926-11-01 4.56 1926-12-01 4.55 1927-01-01 4.54 1927-02-01 4.53 1927-03-01 4.51 1927-04-01 4.47 1927-05-01 4.46 1927-06-01 4.51 1927-07-01 4.51 1927-08-01 4.48 1927-09-01 4.45 1927-10-01 4.43 1927-11-01 4.42 1927-12-01 4.40 1928-01-01 4.38 1928-02-01 4.38 1928-03-01 4.37 1928-04-01 4.38 1928-05-01 4.42 1928-06-01 4.50 1928-07-01 4.54 1928-08-01 4.59 1928-09-01 4.57 1928-10-01 4.57 1928-11-01 4.55 1928-12-01 4.59 1929-01-01 4.60 1929-02-01 4.62 1929-03-01 4.65 1929-04-01 4.72 1929-05-01 4.71 1929-06-01 4.72 1929-07-01 4.77 1929-08-01 4.80 1929-09-01 4.81 1929-10-01 4.80 1929-11-01 4.79 1929-12-01 4.81 1930-01-01 4.73 1930-02-01 4.73 1930-03-01 4.68 1930-04-01 4.63 1930-05-01 4.60 1930-06-01 4.60 1930-07-01 4.56 1930-08-01 4.52 1930-09-01 4.47 1930-10-01 4.43 1930-11-01 4.44 1930-12-01 4.48 1931-01-01 4.53 1931-02-01 4.44 1931-03-01 4.41 1931-04-01 4.36 1931-05-01 4.34 1931-06-01 4.28 1931-07-01 4.30 1931-08-01 4.30 1931-09-01 4.34 1931-10-01 4.46 1931-11-01 4.71 1931-12-01 4.90 1932-01-01 5.16 1932-02-01 5.25 1932-03-01 5.35 1932-04-01 5.15 1932-05-01 5.31 1932-06-01 5.30 1932-07-01 5.36 1932-08-01 5.30 1932-09-01 5.06 1932-10-01 4.90 1932-11-01 4.91 1932-12-01 4.87 1933-01-01 4.78 1933-02-01 4.53 1933-03-01 4.98 1933-04-01 5.03 1933-05-01 5.20 1933-06-01 4.74 1933-07-01 4.61 1933-08-01 4.52 1933-09-01 4.51 1933-10-01 4.54 1933-11-01 4.59 1933-12-01 4.75 1934-01-01 4.58 1934-02-01 4.42 1934-03-01 4.30 1934-04-01 4.20 1934-05-01 4.12 1934-06-01 4.06 1934-07-01 3.99 1934-08-01 3.99 1934-09-01 4.00 1934-10-01 4.02 1934-11-01 3.97 1934-12-01 3.89 1935-01-01 3.82 1935-02-01 3.69 1935-03-01 3.63 1935-04-01 3.62 1935-05-01 3.59 1935-06-01 3.58 1935-07-01 3.51 1935-08-01 3.46 1935-09-01 3.52 1935-10-01 3.53 1935-11-01 3.48 1935-12-01 3.46 1936-01-01 3.42 1936-02-01 3.38 1936-03-01 3.35 1936-04-01 3.32 1936-05-01 3.32 1936-06-01 3.31 1936-07-01 3.28 1936-08-01 3.26 1936-09-01 3.22 1936-10-01 3.19 1936-11-01 3.16 1936-12-01 3.09 1937-01-01 3.11 1937-02-01 3.15 1937-03-01 3.25 1937-04-01 3.33 1937-05-01 3.28 1937-06-01 3.25 1937-07-01 3.23 1937-08-01 3.20 1937-09-01 3.27 1937-10-01 3.28 1937-11-01 3.24 1937-12-01 3.21 1938-01-01 3.14 1938-02-01 3.13 1938-03-01 3.14 1938-04-01 3.20 1938-05-01 3.11 1938-06-01 3.12 1938-07-01 3.07 1938-08-01 3.03 1938-09-01 3.10 1938-10-01 3.01 1938-11-01 2.96 1938-12-01 2.95 1939-01-01 2.88 1939-02-01 2.88 1939-03-01 2.86 1939-04-01 2.88 1939-05-01 2.84 1939-06-01 2.82 1939-07-01 2.82 1939-08-01 2.86 1939-09-01 3.22 1939-10-01 3.10 1939-11-01 2.88 1939-12-01 2.82 1940-01-01 2.78 1940-02-01 2.78 1940-03-01 2.79 1940-04-01 2.77 1940-05-01 2.89 1940-06-01 2.91 1940-07-01 2.79 1940-08-01 2.78 1940-09-01 2.78 1940-10-01 2.71 1940-11-01 2.66 1940-12-01 2.60 1941-01-01 2.64 1941-02-01 2.68 1941-03-01 2.70 1941-04-01 2.71 1941-05-01 2.66 1941-06-01 2.62 1941-07-01 2.59 1941-08-01 2.56 1941-09-01 2.54 1941-10-01 2.50 1941-11-01 2.49 1941-12-01 2.65 1942-01-01 2.68 1942-02-01 2.74 1942-03-01 2.76 1942-04-01 2.70 1942-05-01 2.72 1942-06-01 2.70 1942-07-01 2.68 1942-08-01 2.66 1942-09-01 2.66 1942-10-01 2.65 1942-11-01 2.65 1942-12-01 2.68 1943-01-01 2.66 1943-02-01 2.64 1943-03-01 2.64 1943-04-01 2.64 1943-05-01 2.61 1943-06-01 2.58 1943-07-01 2.54 1943-08-01 2.52 1943-09-01 2.53 1943-10-01 2.52 1943-11-01 2.55 1943-12-01 2.60 1944-01-01 2.55 1944-02-01 2.54 1944-03-01 2.54 1944-04-01 2.52 1944-05-01 2.52 1944-06-01 2.53 1944-07-01 2.52 1944-08-01 2.51 1944-09-01 2.51 1944-10-01 2.52 1944-11-01 2.52 1944-12-01 2.50 1945-01-01 2.44 1945-02-01 2.39 1945-03-01 2.34 1945-04-01 2.33 1945-05-01 2.34 1945-06-01 2.35 1945-07-01 2.34 1945-08-01 2.38 1945-09-01 2.42 1945-10-01 2.40 1945-11-01 2.38 1945-12-01 2.36 1946-01-01 2.28 1946-02-01 2.22 1946-03-01 2.20 1946-04-01 2.19 1946-05-01 2.25 1946-06-01 2.24 1946-07-01 2.26 1946-08-01 2.29 1946-09-01 2.35 1946-10-01 2.40 1946-11-01 2.38 1946-12-01 2.44 1947-01-01 2.38 1947-02-01 2.40 1947-03-01 2.40 1947-04-01 2.38 1947-05-01 2.37 1947-06-01 2.37 1947-07-01 2.37 1947-08-01 2.37 1947-09-01 2.40 1947-10-01 2.50 1947-11-01 2.60 1947-12-01 2.71 1948-01-01 2.72 1948-02-01 2.75 1948-03-01 2.73 1948-04-01 2.67 1948-05-01 2.64 1948-06-01 2.62 1948-07-01 2.67 1948-08-01 2.74 1948-09-01 2.74 1948-10-01 2.74 1948-11-01 2.74 1948-12-01 2.66 1949-01-01 2.57 1949-02-01 2.58 1949-03-01 2.57 1949-04-01 2.56 1949-05-01 2.56 1949-06-01 2.58 1949-07-01 2.55 1949-08-01 2.50 1949-09-01 2.49 1949-10-01 2.50 1949-11-01 2.47 1949-12-01 2.45 1950-01-01 2.43 1950-02-01 2.42 1950-03-01 2.43 1950-04-01 2.44 1950-05-01 2.45 1950-06-01 2.46 1950-07-01 2.48 1950-08-01 2.41 1950-09-01 2.42 1950-10-01 2.43 1950-11-01 2.42 1950-12-01 2.42 1951-01-01 2.37 1951-02-01 2.37 1951-03-01 2.52 1951-04-01 2.63 1951-05-01 2.66 1951-06-01 2.73 1951-07-01 2.74 1951-08-01 2.66 1951-09-01 2.62 1951-10-01 2.68 1951-11-01 2.75 1951-12-01 2.78 1952-01-01 2.75 1952-02-01 2.69 1952-03-01 2.73 1952-04-01 2.70 1952-05-01 2.70 1952-06-01 2.72 1952-07-01 2.73 1952-08-01 2.77 1952-09-01 2.80 1952-10-01 2.87 1952-11-01 2.84 1952-12-01 2.84 1953-01-01 2.89 1953-02-01 2.93 1953-03-01 2.98 1953-04-01 3.06 1953-05-01 3.18 1953-06-01 3.29 1953-07-01 3.20 1953-08-01 3.14 1953-09-01 3.16 1953-10-01 3.04 1953-11-01 2.97 1953-12-01 2.96 1954-01-01 2.89 1954-02-01 2.78 1954-03-01 2.71 1954-04-01 2.73 1954-05-01 2.76 1954-06-01 2.78 1954-07-01 2.71 1954-08-01 2.68 1954-09-01 2.70 1954-10-01 2.72 1954-11-01 2.71 1954-12-01 2.74 1955-01-01 2.77 1955-02-01 2.82 1955-03-01 2.84 1955-04-01 2.84 1955-05-01 2.86 1955-06-01 2.89 1955-07-01 2.93 1955-08-01 3.00 1955-09-01 3.00 1955-10-01 2.96 1955-11-01 2.95 1955-12-01 3.05 1956-01-01 2.99 1956-02-01 2.94 1956-03-01 3.00 1956-04-01 3.14 1956-05-01 3.17 1956-06-01 3.15 1956-07-01 3.17 1956-08-01 3.30 1956-09-01 3.46 1956-10-01 3.51 1956-11-01 3.65 1956-12-01 3.71 1957-01-01 3.70 1957-02-01 3.59 1957-03-01 3.59 1957-04-01 3.60 1957-05-01 3.71 1957-06-01 3.88 1957-07-01 3.94 1957-08-01 4.07 1957-09-01 4.08 1957-10-01 4.04 1957-11-01 4.03 1957-12-01 3.72 1958-01-01 3.52 1958-02-01 3.54 1958-03-01 3.60 1958-04-01 3.55 1958-05-01 3.52 1958-06-01 3.52 1958-07-01 3.64 1958-08-01 3.83 1958-09-01 4.05 1958-10-01 4.06 1958-11-01 4.02 1958-12-01 4.03 1959-01-01 4.07 1959-02-01 4.08 1959-03-01 4.04 1959-04-01 4.13 1959-05-01 4.28 1959-06-01 4.36 1959-07-01 4.36 1959-08-01 4.32 1959-09-01 4.44 1959-10-01 4.41 1959-11-01 4.40 1959-12-01 4.45 1960-01-01 4.50 1960-02-01 4.40 1960-03-01 4.32 1960-04-01 4.29 1960-05-01 4.30 1960-06-01 4.28 1960-07-01 4.22 1960-08-01 4.08 1960-09-01 4.06 1960-10-01 4.12 1960-11-01 4.12 1960-12-01 4.14 1961-01-01 4.10 1961-02-01 4.04 1961-03-01 4.01 1961-04-01 4.06 1961-05-01 4.07 1961-06-01 4.17 1961-07-01 4.20 1961-08-01 4.23 1961-09-01 4.23 1961-10-01 4.17 1961-11-01 4.15 1961-12-01 4.18 1962-01-01 4.12 1962-02-01 4.12 1962-03-01 4.06 1962-04-01 4.00 1962-05-01 3.96 1962-06-01 4.02 1962-07-01 4.06 1962-08-01 4.07 1962-09-01 4.00 1962-10-01 3.91 1962-11-01 3.90 1962-12-01 3.93 1963-01-01 3.91 1963-02-01 3.92 1963-03-01 3.90 1963-04-01 3.93 1963-05-01 3.95 1963-06-01 3.98 1963-07-01 4.01 1963-08-01 4.00 1963-09-01 4.05 1963-10-01 4.06 1963-11-01 4.08 1963-12-01 4.09 1964-01-01 4.08 1964-02-01 4.04 1964-03-01 4.10 1964-04-01 4.13 1964-05-01 4.10 1964-06-01 4.09 1964-07-01 4.06 1964-08-01 4.07 1964-09-01 4.09 1964-10-01 4.09 1964-11-01 4.07 1964-12-01 4.06 1965-01-01 4.02 1965-02-01 4.03 1965-03-01 4.07 1965-04-01 4.08 1965-05-01 4.10 1965-06-01 4.14 1965-07-01 4.17 1965-08-01 4.19 1965-09-01 4.25 1965-10-01 4.27 1965-11-01 4.31 1965-12-01 4.41 1966-01-01 4.44 1966-02-01 4.53 1966-03-01 4.65 1966-04-01 4.64 1966-05-01 4.66 1966-06-01 4.72 1966-07-01 4.83 1966-08-01 5.02 1966-09-01 5.11 1966-10-01 5.01 1966-11-01 5.00 1966-12-01 5.01 1967-01-01 4.75 1967-02-01 4.71 1967-03-01 4.77 1967-04-01 4.80 1967-05-01 5.01 1967-06-01 5.14 1967-07-01 5.20 1967-08-01 5.25 1967-09-01 5.30 1967-10-01 5.46 1967-11-01 5.60 1967-12-01 5.70