Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on six-month bills rising to their highest point since March.
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.025 per cent, unchanged from last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.070 per cent, up from 0.060 per cent last week.
The six-month rate was the highest since those bills averaged 0.075 per cent on March 24.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.37, while a six-month bill sold for $9,996.46. That would equal an annualized rate of 0.025 per cent for the three-month bills and 0.071 per cent 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 0.14 per cent last week from 0.12 per cent the previous week.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.