T-Bill Rates Are Mixed in Weekly Auction
From Associated Press
The Treasury Department auctioned $19 billion in three-month bills at a discount rate of 2.78%, down from 2.8% last week. Another $17 billion in six-month bills was auctioned at a discount rate of 3.09%, up from 3.035% last week.
The new discount rates understate the actual return to investors -- 2.839% for three-month bills with a $10,000 bill selling for $9,929.73 and 3.183% for a six-month bill selling for $9,843.78.
In a separate report, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 3.38% last week from 3.31% the previous week.
