Rates on Short-Term T-Bills Mixed in Auction
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The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 2.935%, up from 2.895% last week. An additional $15 billion in six-month bills was auctioned at a discount rate of 3.08%, down from 3.11% last week.
The new discount rates understate the actual return to investors -- 2.998% for three-month bills, with a $10,000 bill selling for $9,925.81, and 3.172% for a six-month bill selling for $9,844.29.
Separately, the Federal Reserve said the average yield for one-year Treasury bills was unchanged at 3.32% last week.
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