T-Bill Rates Fall to Lowest Level Since October

The Treasury Department auctioned $11 billion in three-month bills at a discount rate of 6.185%. Also, $10 billion in six-month bills was auctioned at a discount rate of 6.070%. The three-month rate was down from 6.220% last week and was the lowest since three-month bills averaged 6.180% on Oct. 30. The six-month rate was down from 6.105% last week and was the lowest since 6.050% on Oct. 23. The new discount rates understate the actual return to investors--6.369% for three-month bills with a $10,000 bill selling for $9,843.70 and 6.350% for a six-month bill selling for $9,693.10.