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T-Bill Rates Edge Up: The Treasury sold...

From Times Staff and Wire Reports

T-Bill Rates Edge Up: The Treasury sold $8.08 billion of new three-month bills at an average discount rate of 5.86%, up from 5.83% last week. Another $8 billion of new six-month bills was sold at an average discount rate of 5.84%, up from 5.82% last week. The three-month bill rate was the highest since those obligations sold for 6.09% on March 3. The six-month bill rate was the highest since 5.91% on March 11. The new discount rates understate the actual return to investors--6.05% for three-month bills, with a $10,000 bill selling for $9,851.90 and 6.12% for a six-month bill selling for $9,704.80. The discount rate reflects the price discount received when government securities are purchased at less than face value.

T-Bill Auction 3 month: 5.86% 6 month: 5.84%


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