Rates rise in Treasury bill auctions.

WASHINGTON -- The Treasury sold $24.54 billion of 91 -day and 182-day bills at higher rates yesterday. The three-months incurred an average rate of 3. 1 0%. up from 3.05% in the previous auction on July 12 and the highest since the 3.14% average incurred on June 7. The six-months incurred a 3.24% rate, up from 3.15% and the highest since the 3.30% average also incurred on June 7.

Coupon equivalents were 3.17% for the three-months and 3.34% for the six-months.

Tenders for the 91s totaled $44.31 billion, and the Treasury accepted $12.27 billion, including $1.05 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $41.74 billion of these bills and received $11.13 billion. Tenders for the 182s totaled $40.26 billion, and the Treasury accepted $12.27 billion, including $938 million of noncompetitive bids accepted at the average. The New York Fed applied for $37.58 billion of these bills and received $11.22 billion.

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