WASHINGTON - The Treasury yesterday sold $11.04 billion of five-year notes at a yield of 5.19%, down from the 5.20% incurred in the previous sale on Nov. 23.
The coupon rate was 51/8%, unchanged from the previous auction. The average price was 99.717.
In the Dutch auction, all competitive tenders at yields lower than 5.19% were accepted in full. Buyers who bid at the high yield of S. 19% were allotted 72% of their total bids. The median yield was 5.19%, and the low yield was 5.15%.
The Treasury received $35.53 billion in bids and accepted $11.04 billion, including $497 million of noncompetitive bids at the average return.
The Treasury sold an additional $30 million to government and Federal Reserve banks as agents of foreign and international monetary authorities, in exchange for maturing securities. In addition, $1.36 billion was accepted at the average price from government accounts and Federal Reserve banks for their own account, in exchange for maturing securities.
The notes will mature Dec. 31, 1998.
