One-Year T-Bill Rates Fall: Interest rates on...

One-Year T-Bill Rates Fall: Interest rates on 52-week Treasury bills fell at the latest action to the lowest level since November. The Treasury Department sold $8.5 billion of the new bills at an average discount rate of 8.18%, down from 8.44% at the last auction May 4. The rates were the lowest since Nov. 17, 1988, when the one-year bills sold for 7.92%. The new discount rate understates the actual return to investors--8.85%, with a $10,000 bill selling for $9,172.90.