Business

Short-term T-bill rates slide up

WASHINGTON — Interest rates on short-term Treasury bills rose in Monday’s auction to the highest levels since mid-October.

The Treasury Department auctioned $33 billion in three-month bills at a discount rate of 0.050 percent, up from 0.045 percent last week.

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Another $29 billion in six-month bills was auctioned at a discount rate of 0.085 percent, up from 0.080 percent last week.

The three-month rate was the highest since three-month bills averaged 0.130 percent on Oct. 15. The six-month rate was the highest since these bills averaged 0.150 percent, also on Oct. 15.

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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 $9,998.74, while a six-month bill sold for $9,995.70.

That would equal an annualized rate of 0.051 percent for the three-month bills and 0.086 percent for the six-month bills.

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 0.11 percent last week, unchanged from the previous week.

Associated Press

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