Interest rates on short-term Treasury bills were mixed in Monday's auction with rates on six-month bills rising, while rates on three-month bills dipped to their lowest level since mid-October.
The Treasury Department auctioned $26 billion in three-month bills at a discount rate of 0.015 per cent, down from 0.020 per cent last week. Another $26 billion in six-month bills was auctioned at a discount rate of 0.075 per cent, up from 0.065 per cent last week.
The three-month rate was the lowest since three-month bills averaged 0.010 per cent on Oct. 14. The six-month rate was the highest since those bills averaged 0.085 per cent on Feb. 9.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,996.21. That would equal an annualized rate of 0.015 per cent for the three-month bills and 0.076 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 down to 0.22 per cent last week from 0.24 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.