WASHINGTON -- The Treasury sold $26.89 billion of 91-day and 182-day bills at higher rates yesterday. The three-months incurred an average rate of 3.11%, up from 3.08% in the previous auction on Oct. 25 and the highest since the 3.14% average incurred on June 7. The six-months incurred a 3.25% rate, up from 3.19% and the highest since the 3.25% average incurred on Aug. 2.

Coupon equivalents were 3.18% for the three-months and 3.35% for the six-months.

Tenders for the 91s totaled $51.75 billion, and the Treasury accepted $13.46 billion, including $1.27 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $48.26 billion of these bills and received $12.34 billion. Tenders for the 182s totaled $44.83 billion, and the Treasury accepted $13.43 billion, including $951 million of noncompetitive bids accepted at the average. The New York Fed applied for $40.86 billion of these bills and received $12.31 billion.

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