BANKING
From Times Staff and Wire Reports
Yield Falls on 2-year Notes at Auction: Yields on two-year Treasury notes fell to the lowest level in 14 years. The average yield was 6.01%, down from 6.14% at the last auction on Sept. 24. It was the lowest rate since two-year notes averaged 5.87% on April 19, 1977. The notes will carry a coupon interest rate of 6%, with each $10,000 in face value selling for $9,998.10. A total of $13.5 billion in notes was sold out of bids totaling $33.4 billion.
