T- bill interest rates fell at the latest auction.

The Treasury Department sold $6.8 billion in new three-month bills at an average discount rate of 6.55%, down from 6.92% last week. Another $6.8 billion was sold in new six-month bills at an average discount rate of 6.54%, down from 6.87% last week. The rates were the lowest since three-month bills averaged 6.37% on June 16, 1980, and six-month bills sold for 6.42% on Dec. 30, 1977. The new discount rates understate the actual return to investors--6.75% for three-month bills with a $10,000 bill selling for $9,834.40 and 6.86% for six-month bills selling for $9,669.40. The discount rate reflects the price discount received when government securities are purchased at less than face value.