BANKING & FINANCE - Oct. 28, 1993
From Times Staff and Wire Reports
Yields on Five-Year Treasury Notes Fall: The decline at Wednesday’s auction reached the lowest level on record. The high yield was 4.81%, down from 4.83% at the last auction Sept. 22. It was the lowest rate since five-year notes were first auctioned in September, 1976. The notes will carry a coupon interest rate of 4.75%, with each $10,000 in face value selling for $9,973.60. A total of $11 billion in notes were sold, out of bids totaling $30.3 billion.