Business

Short-term Treasury bill rates rise

WASHINGTON — Interest rates on short-term Treasury bills rose in Monday’s auction from the previous week.

The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.045 percent, up from 0.035 percent last week. Another $30 billion in six-month bills was auctioned at a discount rate of 0.080 percent, up from 0.070 percent last week.

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The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.86 while a six-month bill sold for $9,995.96. That would equal an annualized rate of 0.046 percent for the three-month bills and 0.081 percent for the six-month bills.

Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, edged down to 0.11 percent last week from 0.14 percent the previous week.

Associated Press

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