Rates mixed at weekly US Treasury auction

WASHINGTON (AP) " Interest rates on short-term Treasury bills were mixed in Monday's auction, with the rate on three-month bills unchanged and the rate on six-month bills falling to their lowest point in two weeks.

The Treasury Department auctioned $37 billion in three-month bills at a discount rate of 0.320 percent, unchanged from the last week. Another $32 billion in six-month bills was auctioned at a discount rate of 0.425 percent, down from 0.430 percent last week.

The six-month rate was the lowest since those bills averaged 0.390 percent on July 11.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,991.91, while a six-month bill sold for $9,978.51. That would equal an annualized rate of 0.325 percent for the three-month bills and 0.432 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 0.55 percent last week from 0.52 percent the previous week.

This story has been automatically published from the Associated Press wire which uses US spellings

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