T-Bill Rates Mixed: The Treasury sold $9.3...

T-Bill Rates Mixed: The Treasury sold $9.3 billion of new three-month bills at an average discount rate of 7.50%, up from 7.49% last week. Another $9.2 billion in new six-month bills was sold at an average discount rate of 7.37%, down from 7.40% last week. The three-month bill rate was the highest since the 7.62% rate of July 16. The six-month bill rate was the lowest since averaging 7.30% last Dec. 4. The new discount rates understate the actual return to investors--7.75% for three-month bills, with a $10,000 bill selling for $9,810.40 and 7.76% for a six-month bill selling for $9,627.40. The discount rate reflects the price discount received when government securities are purchased at less than face value.