WASHINGTON - The Treasury sold $24.1 billion of 91-day and 182-day bills at higher rates yesterday. The three-months incurred an average rate of 3.14%, up from 3.08% in the previous auction on June 1 and the highest since the 3.15% average incurred on Jan. 4. The six-months incurred a 3.30% rate, up from 3.22% and the highest since the 3.38% average incurred on Dec. 28, 1992.
Coupon equivalents were 3.21% for the three-months and 3.40% for the six-months.
Tenders for the 91s totaled $39.27 billion, and the Treasury accepted $12.02 billion, including $1.32 billion of noncompetitive bids accepted at the average. The New York Federal Reserve District applied for $36.03 billion of these bills and received $10.57 billion.
Tenders for the 182s totaled $44.76 billion, and the Treasury accepted $12.08 billion, including $907 million of noncompetitive bids accepted at the average. The New York Fed applied for $42.21 billion of these bills and received $11.24 billion.