Rates Mixed on Short-Term T-Bills
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The Treasury Department sold $16 billion in three-month bills at a discount rate of 0.935%, down from 0.94% last week. An additional $16 billion was sold in six-month bills at a rate of 1.04%, up from 1.025%.
The three-month rate was the lowest since Oct. 20, when the bills sold for 0.92%. The six-month rate was the highest since June 2, when the rate was 1.095%.
The new discount rates understate the actual return to investors -- 0.951% for three-month bills, with a $10,000 bill selling for $9,976.40, and 1.063% for a six-month bill selling for $9,947.40.
In a separate report, the Federal Reserve said the average yield for one-year, constant-maturity Treasury bills, the most popular index for making changes in adjustable-rate mortgages, rose to 1.35% last week from 1.3% the previous week.
From Associated Press
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