Treasury bills’ rates mixed in auction
From Times Staff and Wire Reports
The Treasury Department auctioned $21 billion in three-month bills at a discount rate of 3%, down from 3.03% last week. Also, $20 billion in six-month bills was auctioned at a discount rate of 3.19%, the same as 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 $9,924.17; a six-month bill sold for $9,838.73.
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 3.17% last week from 3.25%.
