Business

T-bill rates fall to a two-week low

WASHINGTON — Interest rates on short-term Treasury bills fell in Monday’s auction to the lowest levels in two weeks.

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.050 percent, down from 0.060 percent last week. Another $25 billion in six-month bills was auctioned at a discount rate of 0.085 percent, down from 0.105 percent.

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The three-month rate was the lowest since these bills averaged 0.045 percent on June 17. The six-month rate was the lowest since the bills averaged 0.075 percent, also on June 17.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.75; a six-month bill sold for $9,995.73. That would equal an annualized rate of 0.051 percent for the three-month bills and 0.086 percent for the six-month bills.

Associated Press

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