WASHINGTON -- The Treasury sold $22.87 billion of 91-day and 182-day bills at higher rates yesterday. The three-months incurred an average rate of 4.00%, up from 3.85% in the previous auction on April 22 and the highest since the 4.08% average incurred on March 30, 1992. The six-months incurred a 4.41% rate, up from 4.25% and the highest since the 4.50% average incurred on Nov. 25, 1991.

Coupon equivalents were 4.10% for the three-months and 4.5% for the six-months.

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