WASHINGTON -- The Treasury sold $23.41 billion of 91-day and 182-day bills at lower rates yesterday, as the three-months incurred an average rate of 3.66%, down from 3.71% in the previous auction on June 8, and the six-months incurred a 3.75% rate, down from 3.83%.

Coupon equivalents were 3.74% for the three-months and 3.88% for the six-months.

Tenders for the 91s totaled $44.26 billion, and the Treasury accepted $11.74 billion, including $1.22 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $40.56 billion of these bills and received $10.31 billion.

Tenders for the 182s totaled $39.21 billion, and the Treasury accepted $11.67 billion, including $991 million of noncompetitive bids accepted at the average. The New York Fed applied for $35.11 billion of these bills and received $10.64 billion.

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