WASHINGTON - Interest rates on short-term Treasury bills held steady in Monday's auction, with rates on three-month bills remaining at the highest level since early July and six-month bills continuing at the lowest level since mid-June.
Short-term interest rates on Treasury bills unchanged
The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.155 percent, unchanged from last week. Another $30 billion was auctioned in six-month bills at a discount rate of 0.185 percent, also unchanged.
The three-month rate was the highest since three-month bills averaged 0.165 percent on July 6. The six-month rate was the lowest since those bills averaged 0.170 percent on June 21.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.04 while a six-month bill sold for $9,990.65. That would equal an annualized rate of 0.157 percent for the three-month bills and 0.188 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 0.25 percent last week.
ASSOCIATED PRESS
about the writer
Canada’s Transportation Safety Board is leading the inquiry into how the plane crash-landed in Toronto on Monday afternoon.