Rates on T-Bills Fall to Lowest Level in a Month
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Interest rates on short-term Treasury bills fell in auction to the lowest levels in more than a month.
The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 3.435%, down from 3.495% last week. An additional $15 billion in six-month bills was auctioned at a discount rate of 3.570%, down from 3.705% last week.
The new discount rates understate the actual return to investors. For a $10,000 bill, the price for a three-month bill was $9,913.17; a six-month bill sold for $9,819.52.
In a separate report, the Federal Reserve said the average yield for one-year Treasury bills fell to 3.77% last week from 3.88% the previous week.
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