Interest rates on short-term Treasury bills rose in Monday's auction with rates on three-month bills climbing to the highest level in three weeks.
The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.085 percent, up from 0.075 percent last week. Another $29 billion in six-month bills was auctioned at a discount rate of 0.150 percent, up from 0.140 percent last week.
The three-month rate was the highest since these bills averaged 0.095 percent on March 19. The six-month rate was the highest since these bills averaged 0.170 percent on March 28.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.85 while a six-month bill sold for $9,992.42. That would equal an annualized rate of 0.086 percent for the three-month bills and 0.152 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 up to 0.19 percent last week from 0.18 percent the previous week.
Rioters And Looters Belong In Jail, In The Morgue Or On The Business End Of A Nightstick | John Hawkins