WASHINGTON (AP) " Interest rates on short-term Treasury bills rose in Monday's auction to their highest levels in more than eight years.
The Treasury Department auctioned $36 billion in three-month bills at a discount rate of 0.780 percent, up from 0.745 percent last week. Another $30 billion in six-month bills was auctioned at a discount rate of 0.910 percent, up from 0.835 percent last week.
The three-month rate was the highest since three-month bills averaged 0.900 percent on Oct. 27, 2008. The six-month rate was the highest since those bills averaged 0.990 percent on Nov. 10, 2008.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,980.28, while a six-month bill sold for $9,953.99. That would equal an annualized rate of 0.792 percent for the three-month bills and 0.927 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 1.03 percent on Friday, up from 0.97 percent on Monday, March 6.
This story has been automatically published from the Associated Press wire which uses US spellings