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T-Bill Rates Mixed: The Treasury sold $8.4...

From Times Staff and Wire Service Reports

T-Bill Rates Mixed: The Treasury sold $8.4 billion of new three-month T-bills at an average discount rate of 7.80%, up from 7.74% last week. Another $8.4 billion of new six-month bills was sold at an average discount rate of 7.74%, down from 7.79% last week. The new discount rates understate the actual return to investors--8.07% for three-month bills, with a $10,000 bill selling for $9,802.80, and 8.17% for a six-month bill selling for $9,608.70. The discount rate reflects the price discount received when government securities are purchased at less than face value.


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