Rates on Short-Term T-Bills Rise This Week
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The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 3.400%, up from 3.345% last week. An additional $16 billion in six-month bills was auctioned at a discount rate of 3.600%, up from 3.540% last week.
The new discount rates understate the actual return to investors -- 3.477% for three-month bills with a $10,000 bill selling for $9,914.06 and 3.718% for a six-month bill selling for $9,818.00.
Separately, the Federal Reserve said the average yield for one-year Treasury bills rose to 3.77% last week from 3.68% the previous week.
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