U.S. BILL AUCTION RATES AVERAGE 5.98, 6.08 PCT
The U.S. Treasury said its weekly
auction of three-month bills produced an average rate of 5.98
pct, with a 6.08 pct rate on six-month bills.
    These rates compared with averages of 5.53 pct for the
three- and 5.63 pct for the six-month bills sold last week.
    The bond-equivalent yield on three-month bills was 6.17
pct. Accepted bids ranges from 5.92 to 5.99 pct and 60 pct of
the bids at the high, or stopout rate, were taken. For six
months, the yield was 6.38 pct and the bids ranged from 5.98
pct to 6.10 pct with 48 pct of the bids accepted.
    The Treasury said it received 25.99 billion dlrs of bids
for the three-month bills, including 1.2 billion dlrs in
non-competitive bids from the public. It accepted 6.6 billion
dlrs of bids, including 2.1 billion dlrs from the Federal
Reserve and 180 mln dlrs from foreign and international
monetary authorities.
    Some 24.7 billion dlrs in bids for six-month bills were
received, including 832 mln dlrs in non-competitives. The
Treasury accepted 6.6 billion dlrs, including 1.8 billion dlrs
from the Fed and 1.2 billion dlrs from foreign and
international authorities.
    The average price for the three-month bills was 98.488 and
prices ranged from 98.504 to 98.486.  The average price for the
six-months bills was 96.926, and prices ranged from 96.977 to
96.916.
    The average yield on the three-month bills was the highest
since 5.99 pct on June 30, 1986.  The average yield on the
six-month bills was the highest since 6.13 pct on June 23,
1986.
 Reuter
