Rates on Short-Term T-Bills Rise in Auction
The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.72%, up from 4.7% last week. An additional $14 billion in six-month bills was auctioned at 4.84%, up from 4.81% last week.
The discount rates understate the actual return to investors -- 4.843% for three-month bills, with a $10,000 bill selling for $9,880.69, and 5.03% for a six-month bill selling for $9,755.31.
Separately, the Federal Reserve said the average yield for one-year Treasury bills edged up to 4.99% last week from 4.98%.
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