Rate falls on 3-month Treasury billsFebruary 24, 2014 @ 12:38 pm
WASHINGTON (AP) - The interest rate on three-month U.S. Treasury bills fell in Monday's auction while the rate on six-month bills was unchanged.
The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.045 percent, down from 0.050 percent last week. Another $25 billion in six-month bills was auctioned at a discount rate of 0.075 percent, unchanged from 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 $9,998.86, while a six-month bill sold for $9,996.21. That would equal an annualized rate of 0.046 percent for the three-month bills and 0.076 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, was 0.12 percent last week, unchanged from the previous week.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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