the republic logo

Rates on US Treasury bills rise at auction with 6-month bills climbing to highest in 14 months

bug
Share/Save/Bookmark

WASHINGTON — Interest rates on short-term Treasury bills rose in Monday's auction with rates on six-month bills climbing to the highest level in 14 months.

The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.035 percent, up from 0.025 percent last week. Another $26 billion in six-month bills was auctioned at a discount rate of 0.110 percent, up from 0.090 percent last week.

The three-month rate was the highest since these bills averaged 0.040 percent on June 30. The six-month rate was the highest since these bills averaged 0.150 percent on Oct. 15, 2013.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.12 while a six-month bill sold for $9,994.44. That would equal an annualized rate of 0.035 percent for the three-month bills and 0.112 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, rose to 0.20 percent last week from 0.15 percent the previous week.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.