Rates on short-term T-bills decline in auction
From the Associated Press
The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 4.910%, down from 4.925% last week. An additional $14 billion in six-month bills was auctioned at a discount rate of 4.870%, down from 4.875% 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 $9,875.89 while a six-month bill sold for $9,753.79.
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 4.90% last week from 4.93% the previous week.
