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Yields on 3-Year Treasury Notes Plummet to Record Low Level

May 12, 1993|From Associated Press

WASHINGTON — Yields on three-year Treasury notes fell in Tuesday's auction to the lowest level on record.

The average yield was 4.27%, down from 4.73% at the last auction on Feb. 9. It was the lowest rate since the start of regular three-year note auctions in 1978.

The notes will carry a coupon interest rate of 4 1/4% with each $10,000 in face value selling for $9,994.40.

A total of $16.2 billion in notes were sold out of bids totaling $46.4 billion.

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