WASHINGTON - The Treasury sold $22.67 billion of 91 -day and 182-day bills at lower rates yesterday. The three-months incurred an average rate of 2.95%. down from 3.02% in the previous auction on August 30 and the lowest since the 2.89% average incurred on May 10. The six-months incurred a 3.03% rate, down from 3.11% and the lowest since the 2.99% average incurred on May 10.

Coupon equivalents were 3.01% for the three-months and 3.12% for the six-months.

Tenders for the 91s totaled $56.66 billion, and the Treasury accepted $11.42 billion, including $1.25 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $52.12 billion of these bills and received $10.13 billion.

Tenders for the 182s totaled $47.05 billion, and the Treasury accepted $11.25 billion, including $953 million of noncompetitive bids accepted at the average. The New York Fed applied for $43.46 billion of these bills and received $10.13 billion.

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