YIELDS ON RECENTLY ISSUED CORPORATE BONDS: A NEW INDEX.

This article focuses on the statistical series of yields of corporate bond issues and Treasury securities in the U.S. between 1951 and 1961. The author compares the weekly Friday yields, as published in the "Wall Street Journal," of corporate bonds rated Aaa, Aa, A, and Baa by Moody's, for both recently issued corporate bonds and outstanding corporate bonds, also called "seasoned issues." The author also compares yields of corporate bonds with 91 day U.S. Treasury bill discount rates and 15 year Treasury long-term bonds.