Long-term Treasury bill yields rose to 11.85%.
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The Treasury said the average yield on $5.75 billion of seven-year notes was up from the last seven-year note issue of 11.67% on Jan. 4. The yield was the highest since the 12.34% figure of Oct. 23, 1984. The Treasury said it received bids of $16.01 billion ranging from 11.82% to 11.85%. The New York Federal Reserve submitted tenders of $14.1 billion, of which $5.14 billion was accepted.
