The Treasury auctioned $11.025 billion of 37-day...

The Treasury auctioned $11.025 billion of 37-day Treasury bills at an average discount rate of 8.07% to complete its quarterly refunding program. The discount rate understates the actual return to investors: 8.25%, with a $10,000 bill selling for $9,917.10. The Treasury plans to offer $9 billion in 30-year bonds later this month or early in December if President Reagan signs the tax corrections bill now on his desk, which renews the department’s authority to issue long-term bonds.