Rates on Short-Term T-Bills Rise in Auction
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Interest rates on short-term Treasury bills rose in auction to the highest level in nearly four years.
The Treasury Department auctioned $16 billion in three-month bills at a discount rate of 3.145%, up from 3.08% last week. An additional $14 billion in six-month bills was auctioned at a discount rate of 3.325%, up from 3.22% last week.
Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 3.46% last week from 3.40% the previous week.
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