WASHINGTON (AP) -- Interest rates on short-term Treasury bills rose in Monday's auction with rates on six-month bills climbing to the highest level in three weeks.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.100 percent, up from 0.09 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.145 percent, up from 0.135 percent last week.
The three-month rate was the highest in two weeks since three-month bills averaged 0.105 percent on Nov. 13. The six-month rate was the highest since those bills averaged 0.150 percent on Nov. 5.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.47 while a six-month bill sold for $9,992.67. That would equal an annualized rate of 0.101 percent for the three-month bills and 0.147 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 unchanged at 0.17 percent last week, the same as the previous week.