3-, 6-Month Treasury Bill Rates Rise

The Treasury Department sold $16 billion in three-month bills at a discount rate of 1.10%, up from 1.02% last week. An additional $16 billion was sold in six-month bills at a rate of 1.08%, up from 1.02%.

The three-month rate was the highest since April 28, when the bills sold for 1.12%. The six-month rate was the highest since May 12, when the rate was 1.10%.

The new discount rates understate the actual return to investors -- 1.12% for three-month bills, with a $10,000 bill selling for $9,972.20, and 1.10% for a six-month bill selling for $9,945.10.