T-Bill Rates Rise: The Treasury sold $7.6...
From Times Staff and Wire Reports
T-Bill Rates Rise: The Treasury sold $7.6 billion of new three-month bills at an average discount rate of 7.68%, up from 7.57% last week. Another $7.6 billion of new six-month bills was sold at an average discount rate of 7.54%, up from 7.44% last week. The rates were the highest since Dec. 26. The new discount rates understate the actual return to investors--7.94% for three-month bills, with a $10,000 bill selling for $9,805.90 and 7.95% for a six-month bill selling for $9,618.80. The discount rate reflects the price discount received when government securities are purchased at less than their face value.
