Yields Rise at T-Bill Auction: The Treasury...
From Times Staff and Wire Reports
Yields Rise at T-Bill Auction: The Treasury sold $9.6 billion of new three-month bills at an average discount rate of 5.94%, up from 5.86% last week. Another $9.6 billion of new six-month bills were sold at an average discount rate of 5.91%, up from 5.85% last week. The new discount rates understate the actual return to investors--6.11% for three-month bills, with a $10,000 bill selling for $9,849.90 and 6.18% for a six-month bill selling for $9,701.20. The discount rate reflects the price discount received when government securities are purchased at less than face value.
T-Bill Auction 3-month: 5.94% 6-month: 5.91%
