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Rates on US Treasury bills dip at weekly auction

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Interest rates on short-term Treasury bills fell in Monday’s auction.

The Treasury Department auctioned $28 billion in three-month bills at a discount rate of 0.040 percent, down from 0.055 percent last week. Another $20 billion in six-month bills was auctioned at a discount rate of 0.060 percent, down from 0.065 percent.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.99, while a six-month bill sold for $9,996.97. That would equal an annualized rate of 0.041 percent for the three-month bills and 0.061 percent for the six-month bills.

Separately, the Federal Reserve said the average yield for one-year Treasury bills was 0.11 percent last week, unchanged from the previous week.

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