Short-Term T-Bill Rates at 2-Month High
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Interest rates on short-term Treasury bills rose in the latest auction to the highest levels in more than two months.
The Treasury Department sold $16 billion in three-month bills at a discount rate of 0.98%. Another $16 billion in six-month bills was sold at a discount rate of 1.04%.
The new discount rates understate the actual return to investors -- 0.997% for three-month bills with a $10,000 bill selling for $9,975, and 1.063% for a six-month bill selling for $9,947.40.
In a separate report, the Federal Reserve said the average yield for one-year Treasury bills, the most popular index for making changes in adjustable-rate mortgages, rose to 1.33% last week from 1.29% the previous week.
From Associated Press
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