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

Yields on three-year Treasury notes rose at auction to the highest level since August, 1985. The average yield was 9.18%, up from 8.59% at the last auction on Nov. 8, 1988. It was the highest rate since three-year notes averaged 9.53% on Aug. 6, 1985. The notes will carry a coupon interest rate of 9.125%, with each $10,000 in face value selling for $9,985.90. A total of $9.76 billion in notes were sold out of bids totaling $31.3 billion.