Rates Higher on Treasury Bills: Rates on...
From Times Staff and Wire Reports
Rates Higher on Treasury Bills: Rates on 52-week T-bills rose to the highest level since last June. The Treasury Department sold $9.75 billion of the bills at an average discount rate of 7.76%, up from 7.42% at the last auction on Feb. 13. The rates were the highest since June 1, 1989, when the one-year bills sold for 8.18%. The new discount rate understates the actual return to investors: 8.36%, with a $10,000 bill selling for $9,215.40.
