Short-Term Treasury Bill Rates Fall

The Treasury Department sold $7.26 billion in three-month bills at an average discount rate of 5.285%, down from 5.295% last week. An additional $7.25 billion was sold in six-month bills, also at an average rate of 5.285%, down from 5.315%. The rates were the lowest since Dec. 15, when three-month bills sold for 5.070% and the six-month rate was 5.175%. In a separate report, the Federal Reserve Board said the average yield for one-year Treasury bills rose to 5.55% last week from 5.49% the previous week. The next auction of two-year notes will be Jan. 27; five-year notes will be auctioned Jan. 28.