Treasury bill yields dropped at the latest auction.

The Treasury Department sold $6.9 billion in new three-month bills at an average discount rate of 8.04%, down from 8.14% last week. Another $6.9 billion was sold in six-month bills at an average rate of 8.27%, down from 8.56%. It was the fourth straight week that yields declined. The new discount rates understate the actual return to investors--8.32% for three-month bills and 8.75% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.