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

T-Bill Rates Ease: The Treasury sold $7.6 billion of new three-month bills at an average discount rate of 7.65%, down from 7.83% last week. Another $7.6 billion of new six-month bills was sold at an average discount rate of 7.65%, down from 7.72% last week. The new discount rates understate the actual return to investors--7.91% for three-month bills, with a $10,000 bill selling for $9,806.60 and 8.07% for a six-month bill selling for $9,613.30. The discount rate reflects the price discount received when government securities are purchased at less than face value.