WASHINGTON -- The Treasury yesterday sold $10.5 billion of five-year notes at an average yield of 5.56%, down from the 6.43% incurred in the previous sale on June 24, and the lowest since the the Treasury began auctioning five-year notes in 1977.

The coupon rate was 6 3/8%, down from 6 3/4 at the previous auction. The average price was 99.741.

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