WASHINGTON - The Treasury sold $25.94 billion of 91-day and 182-day bills at higher rates yesterday. The three-month incurred an average rate of 3.06%, up from 3.04% in the previous auction on Oct 12 and the highest since the 3.10% average incurred on Aug. 2, 1993. The six-months incurred a 3.14% rate, up from 3.12% and the highest since the 3.18% average incurred on Aug. 9.
Coupon equivalents were 3.10% for the three-months and 3.22% for the six-months.
Tenders for the 91s totaled $48.81 billion, and the Treasury accepted $13.03 billion, including $1.23 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $45.02 billion of these bills and received $11.37 billion.
Tenders for the 182s totaled $49.84 billion, and the Treasury accepted $12.91 billion, including $880 million of noncompetitive bids accepted at the average. The New York Fed applied for $47 billion of these bills and received $11.81 billion.