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 Fiscal 2017 budget deadline

 

Rates mixed at weekly US Treasury auction

WASHINGTON (AP) — Interest rates on short-term Treasury bills were mixed in Monday’s auction with rates on three-month bills unchanged while rates on six-month bills rose to the highest point in two weeks.

The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 percent, the same as last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.100 percent, up from 0.085 percent last week.

The six-month rate was the highest since these bills averaged 0.110 percent two weeks ago on June 29.

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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 $9,999.62 while a six-month bill sold for $9,994.94. That would equal an annualized rate of 0.015 percent for the three-month bills and 0.102 percent for the six-month bills.

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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, edged down to 0.26 percent last week from 0.27 percent the previous week.