WASHINGTON (AP) — Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills falling, while rates on six-month bills rose to their highest point since late May.
The Treasury Department auctioned $40 billion in three-month bills at a discount rate of 0.300 percent, down from 0.305 percent last week. Another $34 billion in six-month bills was auctioned at a discount rate of 0.445 percent, up from 0.440 percent last week.
The three-month rate was the lowest since those bills averaged 0.285 percent two weeks ago on Aug. 1. The six-month rate was the highest since these bills averaged 0.475 percent on May. 31.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,992.42, while a six-month bill sold for $9,977.50. That would equal an annualized rate of 0.304 percent for the three-month bills and 0.452 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, rose to 0.56 percent last week from 0.52 percent the previous week.