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WASHINGTON — Interest rates on short-term Treasury bills fell in Monday's auction.
The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.150 percent, down from 0.175 percent last week. Another $31 billion in six-months bills was auctioned at a discount rate of 0.290 percent, down from 0.300 percent last week.
The three-month rate was the lowest since these bills averaged 0.135 percent on April 27. The six-month rate matched the rate on Jan. 12.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.21, while a six-month bill sold for $9,985.33. That would equal an annualized rate of 0.152 percent for three-month bills and 0.294 percent for the six-month bills.
Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes to adjustable-rate mortgages, rose to 0.49 percent last week, up from 0.47 percent the previous week.
