52-Week T-Bill Rate Falls: The interest rate...

52-Week T-Bill Rate Falls: The interest rate on 52-week Treasury bills fell at the latest auction to the lowest level in 13 months. The Treasury Department sold $9.04 billion of the new bills at an average discount rate of 7.22%, down from 7.58% at the last auction on June 29. The rates were the lowest since June 30, 1988, when the one-year bills sold for 7.04%. The actual return to investors will be 7.75%, with a $10,000 bill selling for $9,270.