WASHINGTON (AP) — Interest rates on short-term Treasury bills were mixed in Monday's auction.
The Treasury Department auctioned $28 billion in three-month bills at a discount rate of 0.215 percent, unchanged from last week. Another $26 billion in six-month bills was auctioned at a discount rate of 0.470 percent, down from 0.500 percent last week and lowest since they averaged 0.415 percent on Nov. 30.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,994.57, while a six-month bill sold for $9,976.24. That would equal an annualized rate of 0.219 percent for the three-month bills and 0.479 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, slipped to 0.65 percent last week from 0.66 percent the previous week.