Rates on US Treasury bills mixed at weekly auction

WASHINGTON (AP) " Interest rates on short-term Treasury bills were mixed in Tuesday's auction, with rates on six-month bills slipping and three-month rates unchanged.

The Treasury Department auctioned $40 billion in three-month bills at a discount rate of 0.335 percent, the same as last week. Another $36 billion in six-month bills was auctioned at a discount rate of 0.470 percent, down from 0.480 percent last week.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,991.53, while a six-month bill sold for $9,976.24. That would equal an annualized rate of 0.34 percent for the three-month bills and 0.478 percent for the six-month bills.

Separately, the Federal Reserve said Tuesday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.61 percent last week from 0.59 percent the previous week.

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

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