WASHINGTON -- The Treasury sold $23.33 billion of 91-day and 182-day bills at lower rates yesterday, as the three-months incurred an average rate of 3.16%, down from 3.22% in the previous auction on July 13 and the lowest since 3.15% in Feb. 18, 1972. The six-months incurred a 3.24% rate, down from 3.31% and the lowest since 3.09% on July 1, 1963.

Coupon equivalents were 3.23% for the three-months and 3.34% for the six-months.

Tenders for the 91s totaled $35.13 billion, and the Treasury accepted $11.64 billion, including $1.46 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $31.54 billion of these bills and received $9.83 billion.

Tenders for the 182s totaled $36.73 billion, and the Treasury accepted $11.68 billion, including $1.05 billion of noncompetitive bids accepted at the average. The New York Federal applied for $33.27 billion of these bills and received $10.28 billion.

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