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Rates at weekly US Treasury auction mixed
Rates at weekly US Treasury auction mixed, as 3-month bills fall to 2-month low
By The Associated Press
Associated Press
2013-12-31 06:42 AM

NEW YORK (AP) -- Interest rates on short-term Treasury bills were little changed in Monday's auction, with rates on three-month bills falling slightly and rates on six-month bills flat.

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.065 percent, down from 0.070 percent last week. That's the lowest since three-month bills averaged 0.050 percent eight weeks ago on Nov. 4.

Another $26 billion in six-month bills was auctioned at a discount rate of 0.090 percent, unchanged from 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 $9,998.36 while a six-month bill sold for $9,995.45. That would equal an annualized rate of 0.066 percent for the three-month bills and 0.091 percent for the six-month bills.

Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, remained at 0.13 percent last week, unchanged from the previous week.

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