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Rates on US Treasury bills unchanged to higher

April 24, 2017 08:26 PM

WASHINGTON (AP) — Interest rates on short-term Treasury bills were unchanged to higher in Monday's auction.

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The Treasury Department auctioned $39 billion in three-month bills at a discount rate of 0.820 percent, unchanged from last week. Another $33 billion in six-month bills was auctioned at a discount rate of 0.955 percent, up from 0.945 percent last week. Two weeks ago, the rates hit their highest levels in more than eight years.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,979.27, while a six-month bill sold for $9,951.72. That would equal an annualized rate of 0.833 percent for the three-month bills and 0.973 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, fell to 0.99 percent last Friday from 1.04 percent at the beginning of the week on April 17.

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Copyright 2017 The Associated Press. All rights reserved.

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