Interest rates on short-term T-bills edged down.

The Treasury Department sold $7.08 billion in new three-month bills at an average discount rate of 6.07%, down from 6.08% last week. Another $7 billion was sold in new six-month bills at an average discount rate of 6.09%, down from 6.14% last week. The new discount rates understate the actual return to investors--6.25% for three-month bills and 6.37% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.