3-Month T-Bill Rate Remains at 6.075%

The Treasury Department sold $11 billion in three-month bills at a discount rate of 6.075%, the same rate as last week’s. An additional $10 billion was sold in six-month bills at a rate of 6.055%, up from 6.040%. The new discount rates understate the actual return to investors--6.257% for three-month bills with a $10,000 bill selling for $9,846.40 and 6.333% for a six-month bill selling for $9,693.90. In a separate report, the Federal Reserve said that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages, edged down to 6.06% last week from 6.08% the previous week.