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WASHINGTON (AP) -- Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on three-month bills falling to the lowest level in four weeks while rates on six-month bills were unchanged.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.07 percent, down from 0.075 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.110 percent, unchanged from last week.The three-month rate was the lowest since three-month bills averaged 0.065 percent on Jan. 7.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.23 while a six-month bill sold for $9,994.44. That would equal an annualized rate of 0.071 percent for the three-month bills and 0.112 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 0.15 percent last week, the same as the previous week.