WASHINGTON -- The Treasury yesterday sold $17.3 billion of two-year notes at a yield of 6.17%, up from the 6.04% yield incurred in the previous auction on June 21 and the highest since the 6.46% incurred on Aug. 27, 1991.
The coupon rate was 61/8%, up from 6% in the previous auction. The price was 99.917. In the Dutch auction, all competitive tenders at yields below 6. 17% were accepted in full. Buyers who bid at the high yield of 6.17% were allotted 87% of their total bids. The median yield was 6.16%, and the low yield was 6.10%.