WASHINGTON - The Treasury yesterday sold $16.01 billion of two-year notes at a yield of 4.16%, down from the 4.17% yield incurred in the previous auction on May 25.

The coupon rate was 4 1/8%, unchanged from the previous auction. The price was 99.933.

In the Dutch auction, all competitive tenders at yields below 4.16% were accepted in full. Buyers who bid at the high yield of 4.16% were allotted 52% of their total bids. The median yield was 4.14%, and the low yield was 4.12%.

Tenders totaled $44.29 billion and the Treasury accepted $16.01 billion, including $858 million of noncompetitive bids.

Federal Reserve banks bought $973 million of the securities, as agents for foreign and international monetary authorities, in exchange for maturing securities. The Fed banks also bought $1.15 billion for their own account in exchange for maturing securities.

The notes will mature June 30, 1995.

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