Policy: Economy

Rates mixed at weekly US Treasury bill auction

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News,Business,Economy

WASHINGTON (AP) — Interest rates on short-term Treasury bills were mixed in Tuesday's auction.

The Treasury Department auctioned $28 billion in three-month bills at a discount rate of 0.035 percent, unchanged from last week. That rate is the lowest since September.

Another $25 billion in six-month bills was auctioned at a discount rate of 0.060 percent, up from 0.055 percent 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 $9,999.12 while a six-month bill sold for $9,996.97. That would equal an annualized rate of 0.035 percent for the three-month bills and 0.061 percent for the six-month bills.

The weekly Treasury auction normally takes place on Monday but was delayed until Tuesday this week because of the Martin Luther King holiday.

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