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BRIEFLY

October 22, 1987

Yields on two-year Treasury notes fell to their lowest level since August at the latest auction. The average yield was 7.95%, down from 8.57% at the last auction on Sept. 29. It was the lowest rate since two-year notes averaged 7.86% on Aug. 26. The notes will carry a coupon interest rate of 7.875%, with each $10,000 in face value selling for $9,986.40. A total of $9.26 billion in notes were sold out of bids totaling $22.9 billion.

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