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

Interest rates on 52-week Treasury bills rose to their highest level since before the October stock market crash. The Treasury Department sold $8.8 billion of the bills at an average discount rate of 7.08%, up from 6.74% at the last auction on May 5. The rates were the highest since Sept. 30, when the one-year bills sold for 7.32%. The new discount rate understates the actual return to investors--7.59%, with a $10,000 bill selling for $9,284.10.