THE ECONOMY
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From Times Staff and Wire Reports
Yields on Five-Year Notes Up: The Treasury reported that the average yield was 7.96%, up from 7.69% at the last auction May 23. It was the highest rate since five-year notes averaged 8.57% Aug. 29. The notes will carry a coupon rate of 7.875%, with each $10,000 in face value selling for $9,965.50. A total of $9.3 billion in notes was sold out of bids totaling $25.9 billion.
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