BANK OF JAPAN TO SELL 800 BILLION YEN IN BILLS The Bank of Japan will sell 800 billion yen in deficit financing bills today through 51-day repurchase agreements maturing June 3 to help absorb a projected money market surplus, money traders said. The operation will raise the outstanding supply of the bills to a record 4,800 billion yen. The yield on the bills for sale to banks and securities houses from money houses will be 3.8999 pct compared with the two-month commercial bill discount rate today of 3.8750 pct and the two-month certificate of deposit rate of 4.13/00 pct. The traders estimated the surplus today at about 1,800 billion yen. They said it is mainly due to 1,300 billion yen of government tax allocations to local governments and public entities and to excessive banking system cash holdings due to continuous large central bank dollar purchases.