Yields on three-year Treasury notes rose at...

Yields on three-year Treasury notes rose at the latest auction to the highest level in three years. The average yield was 8.77%, up from 8.23% at the last auction on May 10. It was the highest rate since three-year notes averaged 9.53% on Aug. 6, 1985. The notes will carry a coupon rate of 8.785%, with each $10,000 in face value selling for $9,994.80. Some $11.1 billion in notes were sold out of bids totaling $32.8 billion. Today, the government plans to auction $11 billion in 10-year notes.