Note Rates at 4-Year High: Yields on...

Note Rates at 4-Year High: Yields on two-year Treasury notes rose at auction to the highest level in four years. The average yield was 9.87%, up from 9.49% at the previous auction on Feb. 22. It was the highest rate since two-year notes averaged 10.86% on March 20, 1985. The notes will carry a coupon interest rate of 9.75%, with each $10,000 in face value selling for $9,978.70. A total of $9.27 billion in notes was reported sold out of bids totaling $27.2 billion.