Government Sells Bailout Bonds: The government sold...
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From Times Staff and Wire Reports
Government Sells Bailout Bonds: The government sold $5 billion in 30-year bonds to help finance the disposal of failed savings and loans. The bonds were sold at an average yield of 9.33% and will carry an interest rate of 9.375%, with a $10,000 bond selling for $10,045. Resolution Funding Corp. received bids totaling $10.85 billion.
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