WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction: Rates on three-month bills dropped to the lowest level in three weeks, while rates on six-month bills were unchanged.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.100 percent, down from 0.105 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.150 percent, unchanged from last week.The three-month rate was the lowest since these bills averaged 0.085 percent on Oct. 1.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.47 while a six-month bill sold for $9,992.42. That would equal an annualized rate of 0.101 percent for the three-month bills and 0.152 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 unchanged at 0.18 percent last week, the same as the previous week.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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