Short-term T-bill rates fall in sale
From Times Staff and Wire Reports
The Treasury Department auctioned $20 billion in three-month bills at a discount rate of 4.825%, down from 4.885% last week. An additional $17 billion in six-month bills was auctioned at a discount rate of 4.800%, down from 4.890% 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 $9,878.03, while a six-month bill sold for $9,757.33.
Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, dipped to 4.91% last week from 4.99% the previous week.
