Yields Fall on Treasury Notes: Yields on...

Yields Fall on Treasury Notes: Yields on three-year Treasury notes fell to the lowest level in 18 months as the government began a series of huge debt auctions intended to raise $44.5 billion this week. The average yield was 7.93%, down from 9.12% at the last auction on May 9. It was the lowest rate since three-year notes averaged 7.42% on Feb. 2, 1988. The notes will carry a coupon interest rate of 7.875%, with each $10,000 in face value selling for $9,985.60.