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Rates mixed at weekly US Treasury auction
Monday - 1/28/2013, 4:51pm EST
WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on three-month bills unchanged and rates on six-month bills rising to the highest level in four weeks.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.075 percent, unchanged from last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.110 percent, up from 0.095 percent last week.
The six-month rate was the highest since those bills averaged 0.120 percent on Jan. 2.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.10, while a six-month bill sold for $9,994.44. That would equal an annualized rate of 0.076 percent for the three-month bills and 0.085 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 0.15 percent last week from 0.14 percent the previous week.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)