Rate on 52-Week Treasury Bills Falls: The...
From Times Staff and Wire Reports
Rate on 52-Week Treasury Bills Falls: The rate fell to its lowest level in more than two years. The average discount rate was 6.81%, down from 7.01% at the last auction on Oct. 26. It was the lowest rate since 52-week bills averaged 6.74% on May 5, 1988. The bills will carry an equivalent coupon interest rate of 7.28%, with each $10,000 in face value selling for $9,313.30. Sales totaled $11.88 billion out of bids of $39.59 billion.
