T-Bill Rates Mixed: The Treasury sold $7.6...

T-Bill Rates Mixed: The Treasury sold $7.6 billion of new three-month T-bills at an average discount rate of 7.66%, down from 7.68% last week. Another $7.6 billion of new six-month bills was sold at an average discount rate of 7.58%, up from 7.54% last week. The new discount rates understate the actual return to investors--7.92% for three-month bills, with a $10,000 bill selling for $9,806.40, and 7.99% for a six-month bill selling for $9,616.80. The discount rate reflects the price discount received when government securities are purchased at less than face value.