WASHINGTON -- The Treasury sold $24.08 billion of 91-day and 182-day bills at higher rates yesterday. The three-months incurred an average rate of 4.32%, up from 4.00% in the previous auction on April 29 and the highest since the 4.39% average incurred on Dec. 2, 1991. The six-months incurred a 4.81% rate, up from 4.41% and the highest since the 5.04% average incurred on Oct. 28, 1991.
Coupon equivalents were 4.43% for the three months and 5.00% for the six-months.
Tenders for the 91s totaled $39.98 billion, and the Treasury accepted $12.05 billion, including $1.5 billion of noncompetitive bids accepted at the average.
Tenders for the 182s totaled $39.73 billion, and the Treasury accepted $12.03 billion, including $1.15 billion of noncompetitive bids accepted at the average.
