WASHINGTON — Interest rates on short-term Treasury bills were mixed in yesterday’s auction, with rates on three-month bills falling to the lowest level in three weeks. Six-month bills were unchanged.
The Treasury Department auctioned $27 billion in three-month bills at a discount rate of 0.160 percent, down from 0.165 percent last week. Another 27 billion in six-month bills was auctioned at a discount rate of 0.220 percent, unchanged from last week.
The three-month rate was the lowest since these bills averaged 0.155 percent on May 10.
Falling rates typically discourage investment in Treasury bills. But they also offer investors low risk in turbulent times.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,995.96, while a six-month bill sold for $9,988.88.
Separately, the Federal Reserve said on Monday that the average yield for one-year Treasury bills rose to 0.36 percent last week, from 0.35 percent the previous week.