Treasury Auctions New 5-Year Notes: The Treasury...
From Times Staff and Wire Reports
Treasury Auctions New 5-Year Notes: The Treasury Department sold $9 billion of new five-year notes at an average yield of 7.62%. It was the first time the Treasury had offered five-year notes. Similar offerings in the past had matured after five years and two months. The notes will carry a coupon interest rate of 7.50%, with each $10,000 in face value selling for $9,950.90. Bids totaled $25.43 billion.