Short-Term Rates Rise in Treasury Auction

The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 1.665%. An additional $16 billion in six-month bills was auctioned, also at a discount rate of 1.665%.

The three-month rate was up from 1.630% last week. The six-month rate also had been 1.630% last week.

In a separate report, the Federal Reserve said the average yield for one-year Treasury bills rose to 1.77% last week from 1.59%.