The Treasury Department said yesterday it will raise $7 billion of new cash at its weekly auction of 91-day and 182-day discount bills Monday by selling $38 billion to refund $31 billion of maturing securities.

To be sold are $20 billion of 91s, dated Jan. 17 and due April 17, and $18 billion of 182s, dated Jan. 17 and due July 17.

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