Treasury Bill Rates Drop: The Treasury sold...
From Times Staff and Wire Reports
Treasury Bill Rates Drop: The Treasury sold $8.6 billion of new three-month bills at an average discount rate of 7.69%, down from 7.80% last week. Another $8.6 billion in new six-month bills was sold at an average discount rate of 7.62%, down from 7.74% last week. The new discount rates understate the actual return to investors: 7.95% for three-month bills, with a $10,000 bill selling for $9,805.60, and 8.03% for a six-month bill selling for $9,614.80. The discount rate reflects the price discount received when government securities are purchased at less than face value.
