52-Week T-Bill Rates Drop: Interest rates on...

52-Week T-Bill Rates Drop: Interest rates on 52-week Treasury bills fell in the latest auction to the lowest level in more than four months. The Treasury Department sold $10.26 billion of the bills at an average discount rate of 7.52%, down from 7.65% at the May 31 auction. The rates were the lowest since Feb. 13, when the one-year bills sold for 7.42%. The new discount rate understates the return to investors--8.09%, with a $10,000 bill selling for $9,237.60.