3-Month Bill Yields Rise: The Treasury sold $10.0 billion in three-month bills at an average discount rate of 6.22%, up from 6.14% last week. Another $10.0 billion in six-month bills was sold at an average discount rate of 6.28%, up from 6.21% last week. The new rates understate the actual return to investors--6.41% for three-month bills, with a $10,000 bill selling for $9,842.80, and 6.585% for a six-month bill selling for $9,682.50. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 3-month: 6.22% 6-month: 6.28%