Treasury Bill Rates Rise: The Treasury Department...
From Times Staff and Wire Reports
Treasury Bill Rates Rise: The Treasury Department sold $8.2 billion of new three-month bills at an average discount rate of 7.78%, up from 7.71% last week. Another $8.2 billion of new six-month bills was sold at an average discount rate of 7.91%, up from 7.75% last week. The rates were the highest since three-month bills sold for 7.80% on April 9, and six-month bills averaged 7.92% on March 19. The new discount rates understate the actual return to investors--8.05% for three-month bills with a $10,000 bill selling for $9,803.30 and 8.35% for a six-month bill selling for $9,600.10. The discount rate reflects the price discount received when government securities are purchased at less than face value.
