WASHINGTON — Interest rates on short-term Treasury bills were mixed in yesterday’s auction, with rates on three-month bills rising to the highest point since late March.
The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.060 percent, up from 0.050 percent last week. This week’s rate was the highest since three-month bills averaged 0.100 percent on March 28.
Another $28 billion was auctioned in six-month bills at a discount rate of 0.110 percent. It was the same rate as last week, which marked a record low.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.48, while a six-month bill sold for $9,994.43. That would equal an annualized rate of 0.061 percent for the three-month bills, and 0.112 percent for the six-month bills.
Separately, the Federal Reserve said the average yield for one-year Treasury bills fell to 0.24 percent last week, down from 0.27 percent the previous week.