OTHER NEWS - Nov. 10, 1994
From Times Staff and Wire Reports
10-Year Note Yields Soar: Yields on the Treasury notes rose in Wednesday’s auction to the highest level in more than three years as the government continued its $41-billion quarterly refunding. The average yield was 7.96%, up from 7.33% at the last auction Aug. 10. It was the highest rate since 10-year notes sold for 8.07% on May 8, 1991. The notes will carry a coupon interest rate of 7.875% with each $10,000 in face value selling for $9,942.10. A total of $12.1 billion in notes were sold out of bids totaling $27.7 billion. The refunding began Tuesday with the auction of $17.2 billion in three-year notes and ends today with the sale of $12 billion in 37-day cash management bills.
