Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on three-month bills unchanged while rates on six-month bills dropped to their lowest point since February.

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.080 percent, the same as last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.130 percent, down from 0.135 percent last week.

The three-month rate matched last week's rate, which was the lowest since April 2 when three-month bills averaged 0.075 percent. The six-month rate was the lowest since those bills averaged 0.125 percent on Feb. 21.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.98 while a six-month bill sold for $9,993.43. That would equal an annualized rate of 0.081 percent for the three-month bills and 0.132 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, was unchanged at 0.18 percent last week, the same as the previous week.


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