Rates on 3-, 6-month T-bills mixed in auction
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The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 4.955%, down from 4.975% last week. An additional $15 billion in six-month bills was auctioned at a discount rate of 4.980%, up from 4.955% 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 $9,874.75 while a six-month bill sold for $9,748.23.
Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, fell to 5% last week from 5.07% the previous week.
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