WASHINGTON -- The Treasury yesterday sold $9.09 billion of five-year notes at an average yield of 6.54%, down from the 6.92% incurred in the previous sale on Oct. 24 and the lowest since the 6.73% incurred in the auction on Aug. 27, 1986.

The coupon rate was 6 1/2%, down from 6 7/8% at the previous auction. The average price was 99.832.

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