Rates unchanged at US Treasury weekly auction

AP News
Posted: Mar 17, 2014 4:46 PM

WASHINGTON (AP) — Interest rates on short-term Treasury bills were unchanged in Monday's auction.

The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.050 percent, unchanged from last week. An additional $23 billion in six-month bills was auctioned at a discount rate of 0.080 percent, also holding steady from 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 $9,998.74 while a six-month bill sold for $9,995.96. That would equal an annualized rate of 0.051 percent for the three-month bills and 0.081 percent for the six-month bills.

Separately, the Federal Reserve said that the weekly report on the average yield for one-year Treasury bills would not be released Monday due to a snow storm that closed federal government offices in Washington. The Fed said the report would be released when offices re-open. One-year Treasury bills are a popular index for making changes in adjustable-rate mortgages.