Rates on Treasury bills fall in weekly auction

August 15, 2017 02:26 AM

WASHINGTON (AP) — Interest rates on short-term Treasury bills fell in Monday's auction. Rates on six-month bills declined to their lowest level since mid-July. Last week the six-month bills had risen to their highest level in nearly nine years.


The Treasury Department auctioned $39 billion in three-month bills at a discount rate of 1.015 percent, down from 1.040 percent last week. Another $33 billion in six-month bills was auctioned at a discount rate of 1.115 percent, down from 1.140 percent last week.

The six-month rate was the lowest since those bills averaged 1.105 percent on July 17. No comparison was provided for three-month bills.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,974.3 while a six-month bill sold for $9,943.6. That would equal an annualized rate of 1.032 percent for the three-month bills and 1.137 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, stood at 1.21 percent last Friday, down from 1.22 percent at the start of the week on Monday.


Copyright 2017 The Associated Press. All rights reserved.


Relay Media Amp



Like Us on Facebook Follow Us on Twitter Follow Us on LinkedIn Follow Us on Google+ RSS Email Newsletters Android Apps iOS Apps

Allegiant Air flight left on tarmac for three hours, passenger says

Hate in America must end, New Mexico's Jewish community says

New Mexico battle played key role during Civil War, expert says

KOB 4 seeks ABQ citizens to submit questions to mayoral candidates

Santa Fe to review role in events that celebrate history