Interest Rates Mixed in T-Bill Auction
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The Treasury Department sold $18 billion in three-month bills at a discount rate of 1.315%, down from 1.32% last week.
It sold an additional $16 billion in six-month bills at 1.63%, unchanged from last week.
The new rates understate the actual return to investors -- 1.336% for three-month bills, with a $10,000 bill selling for $9,966.80, and 1.666% for a six-month bill selling for $9,917.60.
In a separate report, the Federal Reserve said the average yield for one-year constant-maturity Treasury bills, the most popular index for making changes in adjustable-rate mortgages, fell to 2.04% last week from 2.14% the previous week.
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