Yields on short-term Treasury securities rose.

The Treasury Department sold $7 billion in new three-month bills at an average discount rate of 7.21%, up from 7.03% last week. Another $7 billion in new six-month bills was sold at an average rate of 7.35%, up from 7.16% last week. The new Treasury bill discount rates understate the actual return to investors--7.45% for three-month bills and 7.74% for six-month bills.