Yields on Treasury Bonds Fall: Yields on...

Yields on Treasury Bonds Fall: Yields on 30-year Treasury bonds fell to the lowest level in nearly three years as the government completed a series of debt auctions intended to raise $44.5 billion. The average yield was 8.14%, down from 9.11% at the last auction on May 11. It was the lowest rate since 30-year bonds averaged 7.54% on Nov. 6, 1986. The bonds will carry a coupon interest rate of 8.125%, with each $10,000 in face value selling for $9,983.30. A total of $9.75 billion in bonds was sold out of bids totaling $20.1 billion. In addition, the Treasury auctioned special short-term debt instruments totaling $15 billion, which included the first $5 billion raised to pay for the savings and loan bailout.