BANKING & FINANCE - March 25, 1993
From Times Staff and Wire Reports
2-Year Note Yields Fall to Record Low: Yields on two-year Treasury notes fell at auction to the lowest level on record. The high yield was 3.92%, down from 3.94% at the last auction, on Feb. 23. It was the lowest rate since regular auctions of two-year notes began in September, 1974. The notes carry a coupon interest rate of 3.875% with each $10,000 in face value selling for $9,991.40. A total of $15.26 billion in notes were sold out of bids totaling $35.86 billion.
