-->DJ US Treasury 10-Yrs: 4.370%; 82.62% At High

08/07/2003
Dow Jones News Services
(Copyright © 2003 Dow Jones & Company, Inc.)



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08-07-03 1301ET

*DJ US Treasury 10-Yrs: Bid-To-Cover 2.00



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08-07-03 1301ET

*DJ US Treasury 10-Yrs: $239.73 Mln Noncomps; 4 1/4% Coupon



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08-07-03 1301ET

DJ US Treasury 10-Yrs -2: Noncomps Up From Previous Sale



WASHINGTON (Dow Jones)--The U.S. Treasury awarded $18.00 billion in 10-year notes at Thursday's auction at a high rate of 4.370%.

The Treasury received bids totaling $35.98 billion and accepted $18.00 billion, including $239.73 million of noncompetitive tenders, up from $88.88 million at the previous 10-year note auction on May 8.

There were no tenders from foreign and international monetary authorities.

The bid-to-cover ratio, an indication of demand, was 2.00, Treasury said.

Tenders submitted at the high yield were allotted 82.62%.

The median rate was 4.310%; that is, 50% of the amount of accepted competitive bids were tendered at or below that rate.

The dollar price was 99.036, and the coupon rate was set at 4 1/4%.


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08-07-03 1307ET

DJ US Treasury 10-Yrs -3: High Rate Up From Previous Sale



Of the competitive bids accepted, 5% were tendered at or below the rate of 4.250%.

The high rate was up from 3.700% at the previous 10-year note auction. The high rate was the highest since 4.390% at the 10-year note auction on Aug. 7, 2002.

The issue is dated Aug. 15, 2003, and matures on Aug. 15, 2013.

The CUSIP number on the 10-year notes is 912828BH2.


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08-07-03 1313ET

DJ US Treasury 10-Yrs -4: Bid-To-Cover Highest Since May '02



The bid-to-cover ratio at Thursday's auction was the highest for 10-year notes since May 2002, when the auction had a bid-to-cover ratio of 2.15, the U.S. Treasury said.


-By Deborah Lagomarsino, Dow Jones Newswires; 202-862-9255; deborah.lagomarsino@dowjones.com