BANKING

Yields Lower on New Notes: Yields on seven-year Treasury notes fell at auction to the lowest level since 1987. The average yield was 7.2%, down from 8.26% at the last auction on July 10. It was the lowest rate since seven-year notes averaged 7.04% on March 26, 1987. The notes will carry a coupon interest rate of 7.125%, with each $10,000 in face value selling for $9,959.30. A total of $9.28 billion in notes were sold out of bids totaling $21.6 billion.