Rates on New 52-Week Treasury Bills Fall:...
From Times Staff and Wire Reports
Rates on New 52-Week Treasury Bills Fall: The average discount rate on the bills was 7.01%, down from 7.25% at the last auction on Sept. 20. It was the lowest rate since 52-week bills averaged 6.74% on May 5, 1988. The bills will carry an equivalent coupon interest rate of 7.51%, with each $10,000 in face value selling for $9,293.20. Sales totaled $10.13 billion out of bids of $47.13 billion. Separately, the Treasury announced that it will hold the delayed auction of $12 billion in 2-year Treasury notes next Tuesday, providing that Congress raises the debt limit.
