Business

Short-term T-bill rates are mixed

WASHINGTON — Interest rates on short-term Treasury bills were mixed in Monday’s auction, with rates on three-month bills unchanged from a week ago while rates on six-month bills fell to the lowest level since February.

The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.100 percent, unchanged from last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.130 percent, down from 0.135 percent last week. The six-month rate was the lowest since these bills averaged 0.125 percent on Feb. 21.

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The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.47, while a six-month bill sold for $9,993.43. That would equal an annualized rate of 0.101 percent for the three-month bills and 0.132 percent for the six-month bills.

Separately, the Federal Reserve said Monday that the ­average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, was unchanged at 0.17 percent last week, the same as the previous week.

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