WASHINGTON -- The Treasury sold $23.22 billion of 91-day and 182-day bills at higher rates yesterday, as the three-months incurred an averaged rate of 2.94%, up from 2.88% in the previous auction on Oct. 13 and the highest since the average of 3.10% on Aug. 31, 1992. The six-months incurred a 3.10% rate, up from 2.95% and the highest since the average of 3.26% on Aug. 31, 1992.

Coupon equivalents were 3.00% for the three-months and 3.19% for the six-months.

Tenders for the 91s totaled $32.7 billion, and the Treasury accepted $11.61 billion, including $1.34 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $28.87 billion of these bills and received $10.17 billion.

Tenders for the 182s totaled $32.16 billion and the Treasury accepted $11.61 billion, including $856 million of noncompetitive bids accepted at the average. The New York Fed applied for $29.28 billion of these bills and received $10.46 billion.

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