WASHINGTON -- The Treasury sold $24.73 billion of 91-day and 182-day bills at lower rates yesterday. The three-months incurred an average rate of 3.05%, down from 3.10% in the previous auction on Aug 2 and the lowest since the 3.05% incurred in the July 19 auction. The six-months incurred a 3.18% rate, down from 3.25% and the lowest since the 3.15% incurred on July 19.

Coupon equivalents were 3.11% for the three-months and 3.28% for the six-months.

Tenders for the 91s totaled $53.26 billion, and the Treasury accepted $12.38 billion, including $1.42 billion of non competitive bids accepted at the average. The New York Federal Reserve District applied for $49.84 billion of these bills and received $11.01 billion.

Tenders for the 182s totaled $52.65 billion, and the Treasury accepted $12.35 billion, including $1.09 billion of noncompetitive bids accepted at the average. The New York Fed applied for $52.65 billion of these bills and received $11.29 billion.

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