T-Bill Rates Nearly Unchanged: The Treasury sold...
From Times Staff and Wire Reports
T-Bill Rates Nearly Unchanged: The Treasury sold $9.4 billion of new three-month bills at an average discount rate of 7.18%, down from 7.19% last week. Another $9.4 billion of new six-month bills was sold at an average discount rate of 7.22%, up from 7.21% last week. The new discount rates understate the actual return to investors--7.41% for three-month bills, with a $10,000 bill selling for $9,818.50, and 7.60% for a six-month bill selling for $9,635.00. The discount rate reflects the price discount received when government securities are purchased at less than face value.
