T-Bill Rates Fall: Interest rates on 52-week...

T-Bill Rates Fall: Interest rates on 52-week Treasury bills fell at the latest action to the lowest level since July. The Treasury sold $9.8 billion of new bills at an average discount rate of 7.35%, down from 7.61% at the last auction on Sept. 21. The rates were the lowest since July 27, when the one-year bills sold for 7.22%. The new discount rate understates the actual return to investors--7.90%, with a $10,000 bill selling for $9,256.80.