Short-Term Interest Rates Decline: Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $6 billion in three-month bills at an average discount rate of 5.22%, down from 5.32% last week. An additional $13 billion was sold in six-month bills at an average discount rate of 5.33%, down from 5.34%. The three-month bill rate was the lowest since they sold for 5.14% on Sept. 25. The six-month bill rate was the lowest since they averaged 5.32% on Oct. 10. In a separate report, the Federal Reserve said the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 5.59% last week from 5.60% the previous week.
Times Staff and Wire Reports
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