Rates Fall on Treasury Bills: Interest rates...

Rates Fall on Treasury Bills: Interest rates on short-term Treasury securities fell in auction to the lowest level in three years. The Treasury Department sold $8.44 billion in three-month bills at an average discount rate of 5.83%, down from 5.85% last week. Another $8.40 billion was sold in six-month bills at an average discount rate of 5.82% from 5.91% last week. The three-month bill rate was the lowest since they sold for 5.78% on April 18, 1988. The six-month bill rate was the lowest since they also averaged 5.78%, on March 14, 1988. In a separate report, the Federal Reserve said the average yield for one-year Treasury bills, the most popular index for making changes in adjustable-rate mortgages, fell to 6.32% last week, down from 6.48% the previous week.

T-Bill Auction 3 month: 5.83% 6 month: 5.82%