Submitted by Fox First at Ten on January 15th
WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on three-month bills rising to the highest level in three weeks while rates on six-month bills were unchanged.
The Treasury Department auctioned $28 billion in three-month bills at a discount rate of 0.075 percent, up from 0.065 percent last week. Another $32 billion in six-month bills was auctioned at a discount rate of 0.105 percent, the same as last week.
The three-month rate was the highest since those bills averaged 0.085 percent on Dec. 26.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,994.69, while a six-month bill sold for $9,998.10. That would equal an annualized rate of 0.107 percent for the three-month bills and 0.076 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, edged down to 0.14 percent last week from 0.15 percent the previous week.
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