WASHINGTON -- The Treasury sold $25.71 billion of 91-day and 182-day bills at higher rates yesterday. The three-months incurred an average rate of 3.04%, up from 2.96% in the previous auction on Oct. 4 and the highest since the 3.05% average incurred on Aug. 9. The six-months incurred a 3.12% rate, up from 3.08% and the highest since the 3.12% average incurred on Aug. 16.

Coupon equivalents were 3.10% for the three-months and 3.21% for the six-months.

Tenders for the 91s totaled $43.94 billion, and the Treasury accepted $12.88 billion, including $1.33 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $39.8 billion of these bills and received $11.48 billion.

Tenders for the 182s totaled $37.17 billion, and the Treasury accepted $12.83 billion, including $951 million of noncompetitive bids accepted at the average. The New York Fed applied for $33.51 billion of these bills and received $11.62 billion.

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