T-Bill Yields Drop: Interest rates on short-term...
From Times Staff and Wire Reports
T-Bill Yields Drop: Interest rates on short-term Treasury securities fell at the government’s weekly auction to the lowest level in nearly three years. The Treasury Department auctioned $9.7 billion worth of 13-week bills at an average discount of 5.86%, down from 5.97% last week and the lowest since 5.78% on April 18, 1988. The Treasury also sold $9.6 billion worth of 26-week bills at an average of 5.85%, down from 5.94% and the lowest since 5.78% on March 14, 1988. The investment rate was 6.03% on the 13-week bills at an average price of $9,851.90 per $10,000 face value. The rate on 26-week bills was 6.11% at $9,704.30.
T-Bill Auction 3-month: 5.86% 6-month: 5.85%
