WASHINGTON (AP) — Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills rising and six-month bills falling.
The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.24 percent, up from 0.22 percent last week. Another $26 billion in six-month bills was auctioned at a discount rate of 0.380 percent, down from 0.395 percent 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 $9,993.93, while a six-month bill sold for $9,980.79. That would equal an annualized rate of 0.243 percent for the three-month bills and 0.386 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, fell to 0.52 percent last week from 0.58 percent the previous week.