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BRIEFLY

December 24, 1987

Yields on 4-year Treasury notes fell to the lowest level since June. The average yield was 8.33% at auction, down from 9.24% at the last auction Oct. 6. It was the lowest rate since 4-year notes averaged 7.89% June 24. The notes will carry a coupon interest rate of 8.25%, with each $10,000 in face value selling for $9,973.30. A total of $7 billion in notes were sold out of bids totaling $20.3 billion. Yields on 2-year Treasury notes rose to the highest level since mid-October. The average yield was 7.93% in Tuesday's auction, up from 7.76% at the last auction Nov. 18. It was the highest rate since 2-year notes averaged 7.95% Oct. 21. The notes will carry a coupon interest rate of 7.875% with each $10,000 in face value selling for $9,990.00. A total of $9.29 billion in notes were sold out of bids totaling $30.85 billion.

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