Yesterday dealers also had to contend with the Treasury's monthly auction of one-year bills.

Terms of the regular monthly auctions of two- and five-year notes will be announced the next week.

But the average discount rate soared at the Treasury's monthly auction of one-year bills.

Next week, for example, the Treasury plans to hold its monthly auction of two- and five-year notes, selling $21 billion worth.

The discount rate compared with 7.22 percent at the last monthly auction of this maturity on July 27.

At the Treasury's last monthly auction of one-year bills, the sale amounted to $9.75 billion.

This Wednesday the Treasury plans to hold its monthly auction of two-year notes.

Today, the Treasury plans to hold its monthly auction of five-year notes, and dealers expect the $9 billion issue also to be well received.

The Treasury held its monthly auction of new one-year bills yesterday.

His own bulletin board holds a monthly on-line auction.