Yields on Notes Rise: Yields on seven-year...
From Times Staff and Wire Reports
Yields on Notes Rise: Yields on seven-year Treasury notes rose at auction to the highest level since April, 1989. The average yield was 8.76%, up from 8.57% at the last auction on July 11. It was the highest rate since seven-year notes averaged 9.39% on April 12, 1989. The notes will carry a coupon interest rate of 8.75% with each $10,000 in face value selling for $9,994.80. A total of $8.5 billion in notes were sold out of bids totaling $15 billion.
