Business

Rates slip on short-term T-bills

WASHINGTON — Interest rates on short-term Treasury bills fell in Monday’s auction, with rates on six-month bills dropping to the lowest point in four weeks.

The Treasury Department auctioned $35 billion in three-month bills at a discount rate of 0.110 percent, down from 0.125 percent last week.

Another $30 billion in six-month bills was auctioned at a discount rate of 0.120 percent, down from 0.135 percent last week.

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The three-month rate was the lowest since three-month bills averaged 0.085 percent on Feb. 11. The six-month rate was the lowest since these bills averaged 0.110 percent on Feb. 4.

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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.

Associated Press