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

Yields on two-year Treasury notes rose at auction to the highest level in almost three years, averaging 8.72%. The yield at the last auction on June 27 was 8.41%. It was the highest rate since two-year notes averaged 8.9% on Oct. 23, 1985. The notes will carry a coupon rate of 8.625%, with each $10,000 in face value selling for $9,982.90. A total of $8.78 billion in notes were sold out of bids totaling $35.27 billion.