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BRIEFLY

Treasury bill yields rose at the latest auction.

October 29, 1985

The Treasury Department sold $7.1 billion in new three-month bills at an average discount rate of 7.24%, up from 7.18% last week. Another $7.1 billion was sold in new six-month bills at an average discount rate of 7.37%, up from last week's 7.32%. The rates were the highest since three-month bills sold for 7.3% on Aug. 5 and six-month bills averaged 7.39% on Sept. 9. The new discount rates understate the actual return to investors--7.48% for three-month bills and 7.76% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.

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