WASHINGTON - The treasury yesterday sold $15.18 billion of two-year notes at an average yield of 4.29%, down from 5.11% yield incurred in the previous auction on June 23 and the lowest since the Treasury began a regular two-year note auctions in 1974.

The coupon rate was 4 1/4%, down from 5% in the previous auction. The average price was 99.924.

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