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Last updated: February 16. 2013 6:00PM - 62 Views

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(AP) Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on three-month bills dipping to the lowest level since May and rates on six-month bills unchanged.


The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.105 percent, down from 0.110 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.145 percent, unchanged from last week.


The three-month rate was the lowest since these bills averaged 0.100 percent on May 6.


The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.32 while a six-month bill sold for $9,992.67. That would equal an annualized rate of 0.106 percent for the three-month bills and 0.147 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, edged up to 0.19 percent last week from 0.18 percent the previous week.


Associated Press
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