Yields Fall on 2-Year Notes: Yields on...

Yields Fall on 2-Year Notes: Yields on 2-year Treasury notes fell at auction to the lowest level since April, 1988. The average yield was 7.74%, down from 8.39% at the last comparable auction on Sept. 26. It was the lowest rate since 2-year notes averaged 7.64% on April 27, 1988. The notes will carry a coupon interest rate of 7.625%, with each $10,000 in face value selling for $9,979.10. A total of $10.04 billion in notes were sold out of bids totaling $24.17 billion.