Treasury Bill Yields Fall To Lowest Levels Since '77
ÐÊ	Interest rates on short-term Treasury securities fell in yesterdayÛªs auction to the lowest levels in almost nine years.</br></br>The Treasury Department sold $7.4 billion in three-month bills at an average discount rate of 5.78 percent, down from 5.85 percent last week. Another $7.4 billion was sold in six-month bills at an average discount rate of 5.80 percent, down from 5.85 percent last week.</br></br>The rates for three-month bills were the lowest since Sept. 2, 1977, when they averaged 5.55 percent. Rates for six-month bills were the lowest since they sold for 5.68 percent on Aug. 8,1977.</br></br>In a separate report, the Federal Reserve said yesterday that the average yield for one-year Treasury bills was 6.29 percent last week, down from 6.36 percent the previous week. This interest rate often is used to set rates for adjustable home mortgages.</br></br>ÐÊ	First Boston Inc. yesterday announced it has completed a leveraged acquisition of Union Carbide Corp.Ûªs home and automotive products business for $800 million and the assumption of additional undisclosed liabilities.