Interest rates on 52-week Treasury bills rose...

Interest rates on 52-week Treasury bills rose to the highest level since June. The Treasury sold $9.5 billion of the bills at an average discount rate of 6.52%, up from 6.22% at the last auction on July 2. The rates were the highest since June 4, when the one-year bills sold for 6.54%. The new discount rate understates the actual return to investors--6.98%, with a $10,000 bill selling for $9,340.80.