Submitted by Fox First at Ten on October 29th
WASHINGTON (AP) - Interest rates on short-term Treasury bills rose in Monday's weekly auction.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.125 percent, up from 0.100 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.160 percent, up from 0.150 percent last week.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.84 while a six-month bill sold for $9,991.91. That would equal an annualized rate of 0.127 percent for the three-month bills and 0.162 percent for the six-month bills.
Separately, the Federal Reserve said that its weekly update on the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, would be delayed because government offices in Washington were closed on Monday because of Hurricane Sandy.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
