T-Bill Rates Rise: The Treasury Department sold...
From Times Staff and Wire reports
T-Bill Rates Rise: The Treasury Department sold $10.0 billion of new three-month bills at an average discount rate of 7.08%, up from 7.05% last week. Another $10.0 billion of new six-month bills was sold at an average discount rate of 7.05%, up from 7.02% last week. The rates were the highest since Oct. 29 when three-month bills sold for 7.12% and six-month bills averaged 7.13%. The new discount rates understate the actual return to investors--7.31% for three-month bills, with a $10,000 bill selling for $9,823.00 and 7.41% for a six-month bill selling for $9,645.50. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 6-month: 7.05% 3-month: 7.08%
