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Average annualized yields dropped at Wednesday's 48th auction of three-month treasury bills, clocking in at 153.39 percent, or 38 points lower than at the previous auction.
Dealers heavily oversubscribed the 5.5 trillion ruble ($1.2 billion) issue, placing bids worth 8 trillion rubles, 1.5 times the total amount. The Finance Ministry placed 94 percent of the issue, or 5.18 trillion rubles, making 230 billion rubles from the auction.
But the ministry was also obliged to pay 3.9 trillion rubles as the 42nd issue of three-month T-bills came due Wednesday.
Average 3-Month T-Bill Yields Fall 38 Points
19 October 1995
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