Treasury bills yields fell at the latest auction.

The Treasury Department sold $7 billion in three-month bills at an average discount rate of 8.15%, down from 8.20% last week. Another $7 billion was sold in six-month bills at an average rate of 8.25%, down from 8.28%. The new discount rates understate the actual return to investors--8.44% for three-month bills and 8.73% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.

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