10-Year Note Yields at 3-Year Low: Returns...

10-Year Note Yields at 3-Year Low: Returns on 10-year Treasury notes fell to the lowest level in nearly three years as the government continued a series of debt auctions intended to raise $44.5 billion this week. The average yield was 8.03%, down from 9.18% at the last auction on May 10. It was the lowest rate since 10-year notes averaged 7.25% on Nov. 5, 1986. The notes will carry a coupon interest rate of 8%, with each $10,000 in face value selling for $9,979.60. A total of $9.76 billion in notes was sold out of bids totaling $18.68 billion. A sale of $9.75 billion in 30-year bonds in minimum denominations of $1,000 takes place today.