WASHINGTON - The Treasury yesterday sold $10.51 billion of five-year notes at a yield of 5.54%, down from the 5.74% incurred in the previous sale on Aug. 26. and the lowest since the regular five-year auctions began in 1977.

The coupon rate was 5 1/2%, down from 5 5/8% at the previous auction. The average price was 99.827.

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