Short-term T-bill rates fall in auction
From Times Wire Services
The Treasury Department auctioned $14 billion in three-month bills at a discount rate of 4.73%, down from 4.76% last week. An additional $13 billion in six-month bills was auctioned at a rate of 4.735%, down from 4.815%.
These rates understate the actual return to investors -- 4.867% for three-month bills, with a $10,000 bill selling for $9,880.44, and 4.932% for a six-month bill selling for $9,760.62.
Separately, the Federal Reserve said the average yield for one-year Treasury bills edged down to 4.89% last week from 4.90% the previous week.
