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Rates on short-term T-bills slide

WASHINGTON — Interest rates on short-term Treasury bills fell in Monday’s auction, with rates on six-month bills declining to the lowest level since early 2012.

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.045 percent, down from 0.050 percent last week.

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Another $25 billion in six-month bills was auctioned at a discount rate of 0.075 percent, down from 0.085 percent last week.

The three-month rate was the lowest since three-month bills averaged 0.040 percent on May 6. The six-month rate was the lowest since these bills averaged 0.070 percent on Jan. 23, 2012.

The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, edged down to 0.15 percent last week from 0.16 percent the previous week.

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