Treasury bill yields rose at the latest auction.

The Treasury Department sold $7.2 billion in new three-month bills at an average discount rate of 7.22%, up from last week’s 7.12%. Another $7.2 billion was sold in new six-month bills at an average discount rate of 7.39%, up from 7.3% a week earlier. The rates were the highest since Aug. 5, when three-month bills sold for 7.3% and six-month bills averaged 7.52%. The new Treasury bill discount rates understate the actual return to investors--7.46% for three-month bills and 7.78% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.