Yields Fall on New Treasury Notes: Yields...
From Times Staff and Wire Reports
Yields Fall on New Treasury Notes: Yields on two-year Treasury notes fell at auction to the lowest level in more than three years. The average yield was 7.09%, down from 7.32% at the last auction Dec. 26. It was the lowest rate since two-year notes averaged 6.43% on March 24, 1987. The notes will carry a coupon interest rate of 6.375%, with each $10,000 in face value selling for $9,983.50. A total of $12.62 billion in notes were sold out of bids totaling $40.1 billion.