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FAS87 ASC715 discount rates and Moody's Rates


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August 31, 2006

MOODY'S DAILY LONG-TERM CORPORATE BOND YIELD AVERAGES

Utilities Industrial Corporate

Aaa NA* 5.54 5.54

Aa 5.84 5.70 5.77

A 6.07 6.06 6.07

Baa 6.31 6.63 6.47

Avg 6.07 5.98 6.03

MOODY'S DAILY TREASURY YIELD AVERAGES

Short-Term (3-5 yrs): 4.66

Medium-Term (5-10 yrs): 4.72

Long-Term (10+ yrs): 4.92

MOODY'S DAILY PUBLIC UTILITY COMMON STOCK YIELD AVERAGES

Price: 314.1

Yield: 3.51

New Dividend: 11.03

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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  • 1 month later...

September 29, 2006

MOODY'S DAILY LONG-TERM CORPORATE BOND YIELD AVERAGES

Utilities Industrial Corporate

Aaa NA* 5.42 5.42

Aa 5.72 5.59 5.66

A 5.90 5.83 5.87

Baa 6.17 6.54 6.36

Avg 5.93 5.85 5.89

MOODY'S DAILY TREASURY YIELD AVERAGES

Short-Term (3-5 yrs): 4.56

Medium-Term (5-10 yrs): 4.61

Long-Term (10+ yrs): 4.80

MOODY'S DAILY PUBLIC UTILITY COMMON STOCK YIELD AVERAGES

Price: 307.2

Yield: 3.60

New Dividend: 11.06

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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October 31, 2006

MOODY'S DAILY LONG-TERM CORPORATE BOND YIELD AVERAGES

Utilities Industrial Corporate

Aaa NA* 5.39 5.39

Aa 5.64 5.55 5.60

A 5.84 5.76 5.80

Baa 6.09 6.40 6.25

Avg 5.86 5.78 5.82

MOODY'S DAILY TREASURY YIELD AVERAGES

Short-Term (3-5 yrs): 4.54

Medium-Term (5-10 yrs): 4.58

Long-Term (10+ yrs): 4.77

MOODY'S DAILY PUBLIC UTILITY COMMON STOCK YIELD AVERAGES

Price: 321.2

Yield: 3.45

New Dividend: 11.10

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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November 30, 2006

MOODY'S DAILY LONG-TERM CORPORATE BOND YIELD AVERAGES

Utilities Industrial Corporate

Aaa NA* 5.20 5.20

Aa 5.50 5.41 5.46

A 5.68 5.62 5.65

Baa 5.93 6.26 6.10

Avg 5.70 5.62 5.66

MOODY'S DAILY TREASURY YIELD AVERAGES

Short-Term (3-5 yrs): 4.42

Medium-Term (5-10 yrs): 4.44

Long-Term (10+ yrs): 4.63

MOODY'S DAILY PUBLIC UTILITY COMMON STOCK YIELD AVERAGES

Price: 324.2

Yield: 3.43

New Dividend: 11.13

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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December 29, 2006 (Friday)

MOODY'S DAILY LONG-TERM CORPORATE BOND YIELD AVERAGES

Utilities Industrial Corporate

Aaa NA* 5.46 5.46

Aa 5.75 5.68 5.72

A 5.95 5.89 5.92

Baa 6.18 6.51 6.35

Avg 5.96 5.89 5.93

MOODY'S DAILY TREASURY YIELD AVERAGES

Short-Term (3-5 yrs): 4.67

Medium-Term (5-10 yrs): 4.69

Long-Term (10+ yrs): 4.87

MOODY'S DAILY PUBLIC UTILITY COMMON STOCK YIELD AVERAGES

Price: 326.2

Yield: 3.47

New Dividend: 11.31

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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January 31, 2007

MOODY'S DAILY LONG-TERM CORPORATE BOND YIELD AVERAGES

Utilities Industrial Corporate

Aaa NA* 5.48 5.48

Aa 5.83 5.81 5.82

A 6.01 5.97 5.99

Baa 6.22 6.57 6.40

Avg 6.02 5.96 5.99

MOODY'S DAILY TREASURY YIELD AVERAGES

Short-Term (3-5 yrs): 4.80

Medium-Term (5-10 yrs): 4.81

Long-Term (10+ yrs): 4.98

MOODY'S DAILY PUBLIC UTILITY COMMON STOCK YIELD AVERAGES

Price: 308.0

Yield: 3.52

New Dividend: 10.85

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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February 28, 2007

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.25 5.25

Aa 5.61 5.58 5.60

A 5.78 5.73 5.76

Baa 6.01 6.31 6.16

Avg 5.80 5.72 5.69

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.47

Medium-Term (5-10 yrs) 4.53

Long-Term (10+ yrs) 4.73

Moody's Daily Public Utility Common Stock Yield Averages

Price 323.76

Yield 3.37

New Dividend 10.90

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Here are some excellent references, courtesy of Rich Groszkiewicz at the COPA PPA seminar

last Friday. For future events see collegeofpensionactuaries.org.

Daily Treasury Yield Curve Rates

http://www.treas.gov/offices/domestic-fina...ate/yield.shtml

Daily Treasury Real Yield Curve Rates

http://www.treas.gov/offices/domestic-fina...eal_yield.shtml

http://www.treas.gov/offices/domestic-fina...ieldmethod.html

We are still waiting for Treasury to determine the corporate yield curve for PPA.

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March 30, 2007

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.43 5.43

Aa 5.80 5.83 5.82

A 5.97 6.00 5.99

Baa 6.25 6.54 6.40

Avg 6.01 5.95 5.98

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.50

Medium-Term (5-10 yrs) 4.60

Long-Term (10+ yrs) 4.87

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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May 31, 2007

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.57 5.57

Aa 5.97 5.96 5.97

A 6.10 6.15 6.13

Baa 6.35 6.65 6.50

Avg 6.14 6.08 6.11

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.81

Medium-Term (5-10 yrs) 4.87

Long-Term (10+ yrs) 5.07

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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June 29, 2007

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.73 5.73

Aa 6.12 6.08 6.10

A 6.24 6.30 6.27

Baa 6.46 6.78 6.62

Avg 6.27 6.22 6.25

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.86

Medium-Term (5-10 yrs) 4.98

Long-Term (10+ yrs) 5.19

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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July 31, 2007

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.62 5.62

Aa 6.03 5.98 6.01

A 6.18 6.34 6.26

Baa 6.46 6.80 6.63

Avg 6.22 6.19 6.21

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.53

Medium-Term (5-10 yrs) 4.71

Long-Term (10+ yrs) 4.97

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Guest ehalgary

The SOA has the corporate rate on its site available (the link listed earlier is no longer in use).

Moody's Rates

It provides...

Moody's® Long-Term Corporate Bond Yield

Month End Close

AA Bond Rating

Based on Bonds with maturities 20 years and above

Yield as of the last business day of the month

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Also, note that link has only one rate: the Aa rate on Corporate bonds. If you need the rate on Utility or Industrial bonds, you must use a different source of information.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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  • 3 weeks later...

Data as of 28-SEP-07

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.76 5.76

Aa 6.12 5.94 6.03

A 6.22 6.26 6.24

Baa 6.45 6.73 6.59

Avg 6.26 6.17 6.22

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.08

Medium-Term (5-10 yrs) 4.44

Long-Term (10+ yrs) 4.84

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Data as of 31-OCT-07

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.62 5.62

Aa 6.01 5.82 5.92

A 6.07 6.07 6.07

Baa 6.36 6.57 6.47

Avg 6.15 6.02 6.09

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 4.00

Medium-Term (5-10 yrs) 4.34

Long-Term (10+ yrs) 4.74

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Data as of 30-NOV-07

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.34 5.34

Aa 5.85 5.66 5.76

A 6.00 5.98 5.99

Baa 6.34 6.54 6.44

Avg 6.06 5.88 5.97

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 3.22

Medium-Term (5-10 yrs) 3.79

Long-Term (10+ yrs) 4.36

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Data as of 31-DEC-07

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.41 5.41

Aa 5.93 5.67 5.80

A 6.07 6.14 6.11

Baa 6.43 6.68 6.56

Avg 6.14 5.97 6.06

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 3.23

Medium-Term (5-10 yrs) 3.81

Long-Term (10+ yrs) 4.43

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Daily Bond Yields and Key Indicators

Data as of 31-JAN-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.38 5.38

Aa 5.90 5.75 5.83

A 6.07 6.16 6.12

Baa 6.40 6.85 6.63

Avg 6.12 6.03 6.08

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 2.48

Medium-Term (5-10 yrs) 3.32

Long-Term (10+ yrs) 4.20

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Daily Bond Yields and Key Indicators

Data as of 29-FEB-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.42 5.42

Aa 5.93 5.79 5.86

A 6.09 6.20 6.15

Baa 6.51 6.99 6.75

Avg 6.18 6.10 6.14

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 2.07

Medium-Term (5-10 yrs) 3.11

Long-Term (10+ yrs) 4.18

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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  • 4 weeks later...

Data as of 31-MAR-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.48 5.48

Aa 5.94 5.76 5.85

A 6.20 6.23 6.22

Baa 6.74 7.06 6.90

Avg 6.29 6.13 6.21

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 1.99

Medium-Term (5-10 yrs) 2.97

Long-Term (10+ yrs) 4.13

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Data as of 30-APR-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.51 5.51

Aa 5.92 5.84 5.88

A 6.22 6.27 6.25

Baa 6.74 7.00 6.87

Avg 6.29 6.16 6.23

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 2.60

Medium-Term (5-10 yrs) 3.41

Long-Term (10+ yrs) 4.36

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Data as of 30-MAY-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.67 5.67

Aa 6.18 6.07 6.13

A 6.36 6.46 6.41

Baa 6.93 7.18 7.06

Avg 6.49 6.35 6.42

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 3.04

Medium-Term (5-10 yrs) 3.76

Long-Term (10+ yrs) 4.59

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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  • 4 weeks later...

Data as of 30-JUN-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.60 5.60

Aa 6.10 5.89 6.00

A 6.32 6.41 6.37

Baa 6.87 7.21 7.04

Avg 6.43 6.28 6.36

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 2.96

Medium-Term (5-10 yrs) 3.67

Long-Term (10+ yrs) 4.47

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Data as of 31-JUL-08

Moody's Daily Long-term Corporate Bond Yield Averages

Utilities Industrial Corporate

Aaa NA 5.73 5.73

Aa 6.16 6.02 6.09

A 6.44 6.61 6.53

Baa 7.03 7.38 7.21

Avg 6.54 6.44 6.49

Moody's Daily Treasury Yield Averages

Short-Term (3-5 yrs) 2.86

Medium-Term (5-10 yrs) 3.61

Long-Term (10+ yrs) 4.51

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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