Business

Rates rise on short-term T-bills

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

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.060 percent, up from 0.045 percent last week. Another $25 billion in six-month bills was auctioned at a discount rate of 0.105 percent, up from 0.075 percent last week.

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The three-month rate was the highest since they averaged 0.065 percent on April 8. The six-month rate was the highest since they averaged 0.110 percent on March 18.

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 0.13 percent last week from 0.14 percent the previous week.

Associated Press

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