Rates on 52-Week T-Bills Fall: Interest rates...
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From Times Staff and Wire Reports
Rates on 52-Week T-Bills Fall: Interest rates on 52-week Treasury bills fell at auction to the lowest level in more than four years. The average discount rate was 5.71%, down from 5.88% at the April 4 auction. It was the lowest rate since 52-week bills averaged 5.68% on March 12, 1987. The bills will carry an equivalent coupon rate of 6.07%, with each $10,000 in face value selling for $9,422.70. Sales totaled $11.81 billion out of bids of $32.89 billion.
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