HIGH TECHNOLOGY

Treasury Bill Rates Lowest in Nearly 15 Years: The Treasury sold $10.2 billion in new three-month bills at an average discount rate of 4.44%, down from 4.58% last week. Another $10.2 billion in new six-month bills was sold at an average discount rate of 4.50%, down from 4.62% last week. The three-month bill rate was the lowest since they sold for 4.41% on Jan. 3, 1977. The six-month bill rate was the lowest since they averaged 4.47% on Dec. 23, 1976. The new discount rates understate the actual return to investors--4.56% for three-month bills, with a $10,000 bill selling for $9,889.00, and 4.68% for a six-month bill selling for $9,773.80. The discount rate reflects the price discount received when government securities are purchased at less than face value.

T-Bill Auction 6-month: 4.50% 3-month: 4.44%