Rates on Treasury Bills Fall: Interest rates...
From Times Staff and Wire Reports
Rates on Treasury Bills Fall: Interest rates on 52-week Treasury bills fell to the lowest level in 17 months. The Treasury Department sold $9.8 billion of the bills at an average discount rate of 7.17%, down from 7.35% at the last auction on Oct. 19. The rates were the lowest since June 30, 1988, when the one-year bills sold for 7.04%. The new discount rate understates the actual return to investors--7.69%, with a $10,000 bill selling for $9,275.00.
