Short-term T-bill rates mixed in sale
The Treasury Department auctioned $20 billion in three-month bills at a discount rate of 3.92%, up from 3.9% last week. Also, $18 billion in six-month bills was auctioned at a discount rate of 3.945%, down from 3.99%.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,900.91, and a six-month bill sold for $9,800.56.
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 3.97% last week from 4.14% the previous week.