Rates on 52-Week T-Bills Fall: The Treasury...
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From Times Staff and Wire Service Reports
Rates on 52-Week T-Bills Fall: The Treasury sold $10 billion of new 52 week T-bills at an average discount rate of 7.65%, down from 8.05% at the last auction May 3. The rates were the lowest since Feb. 13, when the one-year bills sold for 7.42%. The new discount rate understates the actual return to investors--8.24% with a $10,000 bill selling for $9,226.50.
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