Rates decline in Treasury bill auctions.

WASHINGTON - The Treasury sold $20.43 billion of 91-day and 182-day bills at lower rates yesterday, as the three-months incurred an average rate of 2.67%, down from 2.73% in the previous auction on Sept. 29 and was the lowest since the average of 2.66% on May 28, 1962. The six-months incurred a 2.73% rate, down from 2.85% and was the lowest since the average of 2.77% on Oct 29, 1962.

Coupon equivalents were 2.73% for the three-months and 2.86% for the six-months.

Tenders for the 91s totaled $33.55 billion, and the Treasury accepted $10.22 billion, including $1.53 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $29.92 billion of these bills and received $8.86 billion.

Tenders for the 182s totaled $34.19 billion, and the Treasury accepted $10.21 billion, including $1.03 billion of noncompetitive bids accepted at the average. The New York Fed applied for $31.15 billion of these bills and received $9.28 billion.

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