Business

Rates on short-term T-bills rise

WASHINGTON — Interest rates on short-term Treasury bills rose in Monday’s auction with rates on six-month bills rising to the highest level in three weeks.

The Treasury Department auctioned $29 billion in three-month bills at a discount rate of 0.045 percent, up from 0.040 percent last week.

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Another $24 billion in six-month bills was auctioned at a discount rate of 0.080 percent, up from 0.075 percent last week.

The three-month rate was the highest since these bills averaged 0.050 percent on April 29. The six-month rate was the highest since these bills averaged 0.085 percent on April 22.

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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 0.11 percent last week, the same as the previous week.

Associated Press

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