- The Washington Times - Monday, March 16, 2009

WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday’s auction with three-month bills declining and rates on six-month bills rising.

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.250 percent, up from 0.240 percent last week. Another $29 billion in six-month bills was auctioned at a discount rate of 0.445 percent, down from 0.460 percent last week.

The three-month rate was the highest since three-month bills averaged 0.280 percent on March 2. The six-month rate was the lowest since these bills averaged 0.440 percent, also on March 2.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,993.68 while a six-month bill sold for $9,977.50. That would equal an annualized rate of 0.254 percent for the three-month bills and 0.452 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, rose to 0.70 percent last week from 0.68 percent the previous week.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide