Interest rates on short-term U.S. Treasury bills were mixed in Monday's auction with rates on six-month bills unchanged and rates on three-month bills rising to the highest level since February.
The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.095 percent, up from 0.090 percent last week. Another $27 billion in six-month bills was auctioned at a discount rate of 0.145 percent, unchanged from last week.
The three-month rate was the highest since these bills averaged 0.115 percent on Feb. 27.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.60 while a six-month bill sold for $9,992.67. That would equal an annualized rate of 0.096 percent for the three-month bills and 0.147 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 0.18 percent last week from 0.19 percent the previous week.
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