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Three-month T-bill rate declines

WASHINGTON — The interest rate on three-month US Treasury bills fell in Monday’s auction, while the rate on six-month bills was unchanged.

The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.045 percent, down from 0.050 percent last week. Another $25 billion in six-month bills was auctioned at a discount rate of 0.075 percent, unchanged from 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 $9,996.21. That would equal an annualized rate of 0.046 percent for the three-month bills and 0.076 percent for the six-month bills.

Separately, the Federal Reserve said the average yield for one-year Treasury bills was 0.12 percent last week, unchanged from the previous week.

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