Short-term T-bill rates mixed in sale
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The Treasury Department auctioned $16 billion in three-month bills at a discount rate of 3.84%, up from 3.82% last week. An additional $14 billion in six-month bills was auctioned at a discount rate of 4%, unchanged from last week.
The new discount rates understate the actual return to investors -- 3.942% for the three-month bills, with a $10,000 bill selling for $9,902.93, and 4.151% for a six-month bill selling for $9,797.78.
Separately, the Federal Reserve said the average yield for one-year Treasury bills fell to 4.05% last week from 4.11% the previous week.
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