Treasury bill yields fell at the latest auction.

The Treasury Department sold $14.1 billion in new securities, half in three-month bills at an average discount rate of 7.78%, down from 7.86% on Dec. 28, 1984, and half in six-month bills at an average discount rate of 8.02%, down from 8.19%. The new discount rates understate the actual return to investors--8.05% on three-month bills and 8.48% on six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.