Rates on Short-Term T-Bills Drop in Auction
From the Associated Press
The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 4.770%, down from 4.815% last week. An additional $16 billion in six-month bills was auctioned at a discount rate of 4.810%, down from 4.920% last week.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,879.43; a six-month bill sold for $9,756.83.
Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, fell to 4.97% last week from 5.02% the previous week.
