WASHINGTON (AP) -- Interest rates on short-term Treasury bills were mixed in Monday's auction, as three-month bills were unchanged from last week while six-month bills rose to the highest level in six weeks.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.080 percent, the same rate as the previous week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.105 percent, up from 0.100 percent last week.
The six-month rate was the highest since these bills averaged 0.150 percent on Oct. 15.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.00 while a six-month bill sold for $9,994.72. That would equal an annualized rate of 0.081 percent for the three-month bills and 0.107 percent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, was 0.13 percent last week, unchanged from the previous week.
- Budget, Tax & Economy