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The average yield on the Treasury`s $9.53 billion of 2-year notes at Wednesday`s auction was 8.58 percent, down from 8.90 percent on Oct. 23 and the lowest since 8.51 percent on June 19, 1985. The Treasury received bids totaling $24.74 billion and accepted $9.53 billion, including $1.28 billion of noncompetitive tenders at the average yield. The average dollar price was 99.856 and the coupon rate was set at 8.5 percent.
