BANKING & FINANCE - Dec. 20, 1994
From Times Staff and Wire Reports
T-Bill Rates Decline to Three-Week Low: The Treasury Department sold $13.1 billion of new three-month bills at an average discount rate of 5.59%, down from 5.76% last week. Another $13.1 billion of new six-month bills was sold at an average discount rate of 6.30%, down from 6.32%. The three-month bill rate was the lowest since they sold for 5.44% on Nov. 28. The six-month bill rate was the lowest since they averaged 5.86% the same day. The new discount rates understate the actual return to investors--5.75% for three-month bills with a $10,000 bill selling for $9,858.70 and 6.60% for a six-month bill selling for $9,681.50.
T-Bill Auction
6-month: 6.30%
3-month: 5.59%
