

                03/31/94     CURRENCIES

 CURRENCY CLOSE  THURSDAY   WEDNESDAY THE DOLLAR ON FOREIGN EXCHANGE THU  OPEN
 BRITISH POUND   $1.4850   $1.4800    FRANKFURT     1.6723  -0.0047
 CANADIAN $      $.7225    $.7255     ZURICH        1.4120  -0.0120
 DUTCH GUILDER   $.5326    $.5309     LONDON:      $1.4839 +$0.0049
 FRENCH FRANC    $.1751    $.1746     TOKYO CLOSE  102.80   -0.50
 GERMAN MARK     $.5983    $.5968     NY CLOSE        THU      WED
 ITALIAN LIRA    $.000620  $.000613   AUSTRALIAN $  $0.7014  $0.7003
 JAPANESE YEN    $.009753  $.009713   MEXICAN PESO  $0.2978  $0.2978
 SWISS FRANC     $.7082    $.7046     N. ZEALAND $  $0.5626  $0.5608
(MktNews)  The dollar firmed against the yen  Thursday  afternoon  following
the  release  of  a  U.S.  report  criticizing Japan for its trade barriers.
Traders said dollars were sold on the rumor ahead of the release  and  players
were now buying them back on the fact.
     But  the  dollar  is  still  vulnerable  on the downside against the yen,
traders said. "Every time it goes up, they're hitting the bids," said a trader
at a Japanese bank. Some bids around Y102.05/10 may slow  the  dollar's  fall,
she said.
     The  buck  was  quoted  at DM1.6700 and Y102.42 at 1:25 p.m. CST compared
with DM1.6679 and Y102.20 at 11:45 a.m. and DM1.6715 and Y102.85 at 6:30 a.m.
     The U.S.  Trade Representative's annual National  Trade  Estimate  report
said  Japan's trade barriers far exceed those of other Group of Seven nations,
and included 43 pages on Japanese trade barriers.



                   03/31/94  BOND YIELDS/INTEREST RATES

TREASURIES  DISCOUNT  CHG YIELD       AGENCIES  COUPON  PRICE      T-AUCTION
3 MO T-BILLS  3.48  -.01  3.56       30 YR GNMA  6.00  88:28       RESULTS
6 MO T-BILLS  3.80  -.01  3.93       30 YR GNMA  7.00  95:17   DISCOUNT/YIELD
1 YR T-BILLS  4.25  0.04  4.44       30 YR GNMA  8.00 101:03   3 MO  3.50/ 3.58
NOTES & BONDS     PRICE CHG32 YIELD   30 YR GNMA  9.50 106:11  6 MO  3.85/ 3.98
1 YR 3-7/8 03/95  99:10   -1  4.58  3M FFCB 3.650  7/94  99:31 1 YR  4.30/ 4.51
2 YR 5-1/8 03/96  99:28   +1  5.18  6M FFCB 4.000 10/94  99:31 2 YR        5.15
3 YR 4-3/4 02/97  97:22   -1  5.63  1Y FFCB 4.430  4/95  99:25 5 YR        5.91
5 YR 5-7/8 03/99  98:17   +3  6.22  2Y FHLB 4.750 11/94 100:01
7 YR 5-1/2 04/00  95:21   +5  6.38  3Y FHLB 5.375 11/95 100:06   NEXT TREASURY
10 YR 5-7/8 02/04  93:27   +9  6.74  5Y FHLM 5.180 11/98  95:03     AUCTIONS
30 YR 6-1/4 08/23  89:22   +8  7.09 10Y FHLM 6.550  4/03  94:30  3 MO  04/07/94
13:57  0/N  30 DAY  60    90   180   5Y FNMA 5.300 12/98  95:13  6 MO  04/07/94
CD           3.68  3.81  3.95  4.23  7Y FNMA 6.100  2/00  98:00  1 YR  04/  /94
COMM PAPER   3.72  3.79  3.91  4.15 10Y FNMA 5.800 12/03  91:31  2 YR  04/26/94
BANK ACCEP   3.63  3.72  3.82  4.07 30Y RFC  8.625  1/21 114:09  3 YR  08/  /94
LIBOR  3.56  3.69  3.81  3.94  4.25  FED FUNDS          13:57    5 YR  04/27/94
TREASURY WHEN-ISSUED          13:57        LATEST  4.000         7 YR
 3MO  3.540  6MO  3.860  1YR  4.300   HIGH  4.000 LOW   3.625   10 YR  08/  /94
                                     PRIME  6.250 DISC  3.000   30 YR  08/  /94


