T-Bill Rates Rise to Highest Since Spring ’01
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The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 3.910%, up from 3.870% last week. An additional $16 billion in six-month bills was auctioned at a discount rate of 4.195%, up from 4.155% last week.
The new discount rates understate the actual return to investors -- 4.004% for three-month bills, with a $10,000 bill selling for $9,901.16 and 4.345% for six-month bills selling for $9,787.92.
Separately, the Federal Reserve said the average yield for one-year Treasury bills rose to 4.35% last week from 4.32% the previous week.
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