WASHINGTON (AP) " Interest rates on short-term Treasury bills slipped in Monday's auction to their lowest levels in two weeks.
The Treasury Department auctioned $39 billion in three-month bills at a discount rate of 0.760 percent, down from 0.780 percent last week. Another $33 billion in six-month bills was auctioned at a discount rate of 0.890 percent, down from 0.910 percent last week.
The three-month rate was the lowest since those bills averaged 0.745 percent two weeks ago on March 6. The six-month rate was the lowest since those bills averaged 0.835 percent, also on March 6.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,980.79, while a six-month bill sold for $9,955.01. That would equal an annualized rate of 0.772 percent for the three-month bills and 0.906 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, edged down to 1.00 percent on Friday after starting last week at 1.06 percent.
This story has been automatically published from the Associated Press wire which uses US spellings