Rates at weekly US Treasury auction fallDecember 9, 2013 @ 2:56 pm
WASHINGTON (AP) - Interest rates on short-term Treasury bills fell in Monday's auction to their lowest levels in five weeks.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.070 percent, down from 0.075 percent last week. Another $27 billion in six-month bills was auctioned at a discount rate of 0.095 percent, down from 0.100 percent last week.
The three-month rate was the lowest since three-month bills averaged 0.050 percent five weeks ago on Nov. 4. The six-month rate was the lowest since those bills averaged 0.085 percent, also on Nov. 4.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.23 while a six-month bill sold for $9,995.20. That would equal an annualized rate of 0.071 percent for the three-month bills and 0.096 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 up to 0.30 percent last week from 0.29 percent the previous week.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
You might see a dusting of snow, but the days of scraping the ice off your windshield are over
Danny O'Neil shares what we learned from the Seahawks' loss to the 49ers
The Holiday Map
Find Santa photos, tree farms, lights & seasonal events with our holiday map
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.