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T-Bill Rates Rise : The Treasury sold...

From Times Staff and Wire Reports

T-Bill Rates Rise : The Treasury sold $9.2 billion in new three-month bills at an average discount rate of 6.01%, up from 5.94% last week. Another $9.2 billion in new six-month bills was sold at an average discount rate of 6.01%, up from 5.91% last week. The three-month bill rate was the highest since they sold for 6.22% on Jan. 28. The six-month bill rate was the highest since they averaged 6.28% on the same day. The new discount rates understate the actual return to investors--6.19% for three-month bills, with a $10,000 bill selling for $9,848.10 and 6.28% for a six-month bill selling for $9,696.20. The discount rate reflects the price discount received when government securities are purchased at less than face value.

T-Bill Auction 3-month: 6.01% 6-month: 6.01%


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