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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States W u ly 8, 1 9 8 0 RESULTS OF AUCTION OF 14-YEAR 10-MONTH TREASURY BONDS (Bonds of 1995) To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The follow in g statem en t w as issued by the T reasury D epartm ent: The Department of the Treasury has accepted $1,502 million of $4,766 million of tenders received from the public for the 14-year 10-month bonds auctioned today [J u ly 2], The range of accepted competitive bids was as follows: Lowest yield .................... 10.40% Highest yield.................... 10.44% Average yield ...................10.42% The interest rate on the bonds will be 10-3/8%. At the 10-3/8% rate, the above yields result in the following prices: Low-yield price................................... 99.813 High-yield p rice.............................. 99.515 Average-yield price........................ 99.664 The $1,502 million of accepted tenders includes $130 million of noncompetitive tenders and $1,372 million of competitive tenders from private investors, including 84% of the amount of bonds bid for at the high yield. A nthony M. S olomon , President.
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