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

The Treasury Department sold $7.82 billion in new three-month bills at an average discount rate of 5.16%, down from 5.24% last week. Another $7.83 billion was sold in new six-month bills at an average discount rate of 5.34%, down from 5.35% last week. The rates were the lowest in three weeks. The new discount rates understate the actual return to investors--5.30% for three-month bills and 5.57% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.