Getting your Trinity Audio player ready...
The Treasury Department took off on a record borrowing binge Tuesday by selling $8 billion in three-year notes at the lowest yield in two years. The average annual yield of 10 percent was down from 10.40 percent at the previous quarterly auction of similar issues in February. It was the lowest average yield at such an auction since the 9.48 percent of May, 1983. On Wednesday, the Treasury is scheduled to sell $6.5 billion of 10-year notes, and on Thursday auction $6 billion in 30-year bonds.
