T-Bill Rates Up: Interest rates on short-term...
From Times Staff and Wire Reports
T-Bill Rates Up: Interest rates on short-term Treasury securities rose to their highest level since October. The Treasury Department sold $7.8 billion in three-month bills at an average discount rate of 7.77%, up from 7.62% last week. Another $7.8 billion was sold in six-month bills at an average discount rate of 7.64%, up from 7.43% last week. The rates were the highest since three-month bills sold for 7.78% on Oct. 30 and six-month bills averaged 7.92% on Oct. 2. The new discount rates understate the actual return to investors--8.04% for three-month bills, with a $10,000 bill selling for $9,803.60 and 8.06% for a six-month bill selling for $9,613.80.
