Interest rates on short-term T-bills were mixed.

The Treasury sold $6.6 billion in new three-month bills at an average discount rate of 5.70%, up from 5.59% last week. Another $6.6 billion was sold in new six-month bills at an average discount rate of 5.95%, down from 5.99% last week. The new discount rates understate the actual return to investors--5.88% for three-month bills with a $10,000 bill selling for $9,855.90 and 6.24% for six-month bills selling for $9,699.20. The discount rate reflects the price discount received when government securities are purchased at less than face value.