T-Note Rates Fall: Yields on five-year Treasury notes fell at auction to the lowest level on record. The high yield was 4.83%, down from 4.87% at the last auction on Aug. 25. It was the lowest rate since regularly scheduled auctions of five-year notes began in January, 1977. The notes will carry a coupon interest rate of 4.75%, with each $10,000 in face value selling for $9,964.80. A total of $11 billion in notes were sold out of bids totaling $30.8 billion.
BANKING & FINANCE
From Times Staff and Wire Reports