Treasury Bill Rates Fall: The Treasury sold...
From Times Staff and Wire Reports
Treasury Bill Rates Fall: The Treasury sold $8.4 billion of new three-month bills at an average discount rate of 7.67%, down from 7.79% last week. The Treasury also sold $8.4 billion of new six-month bills at an average discount rate of 7.68%, down from last week’s 7.84%. The rates were the lowest since Feb. 12, when both three-month and six-month bills sold for 7.65%. The discount rates understate the actual return to investors--7.93% for three-month bills, with a $10,000 bill selling for $9,806.10, and 8.10% for a six-month bill selling for $9,611.70. The discount rate reflects the price discount received when government securities are purchased at less than face value.
