Business

Short-term T-bill interest rates fall

WASHINGTON — Interest rates on short-term Treasury bills fell in Monday’s auction with rates on six-month bills tumbling to their lowest point in more than a year.

The Treasury Department auctioned $35 billion in three-month bills at a discount rate of 0.055 percent, down from 0.065 percent last week.

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Another $30 billion in six-month bills was auctioned at a discount rate of 0.090 percent, down from 0.095 percent last week.

The three-month rate was the lowest since three-month bills averaged 0.040 percent on Dec. 17. The six-month rate was the lowest since these bills averaged 0.075 percent on Jan. 30, 2012.

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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, edged down to 0.12 percent last week from 0.13 percent the previous week.

Associated Press

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