T-Bill Rates Fall: The Treasury sold $8.4...
From Times Staff and Wire Reports
T-Bill Rates Fall: The Treasury sold $8.4 billion of news three-month bills at an average discount rate of 7.79%, down from 7.91% last week. Another $8.4 billion of new six-month bills was sold at an average discount rate of 7.84%, down from 8.03% last week. The new discount rates understate the actual return to investors--8.06% for three-month bills, with a $10,000 bill selling for $9,803.10, and 8.29% for a six-month bill selling for $9,603.60. The discount rate reflects the price discount received when government securities are purchased at less than face value.
