One-Year T-Bill Rates Plunge: The Treasury sold...

One-Year T-Bill Rates Plunge: The Treasury sold $9.0 billion of the 52-week T-bills at an average discount rate of 7.58%, down from 8.18% at the last comparable auction on June 1. The rates were the lowest since Oct. 20, 1988, when the one-year bills sold for 7.57%. The new discount rate understates the actual return to investors--8.16% with a $10,000 bill selling for $9,233.60.