Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills rising to their highest level since late December and rates on six-month bills declining slightly.
The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.530 per cent, up from 0.515 per cent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.620 per cent, down from 0.625 per cent last week.
The three-month rate was the highest since those bills averaged 0.555 per cent on Dec. 27. The six-month rate was the lowest since these bills averaged 0.600 per cent two weeks ago on Jan. 23.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,986.60, while a six-month bill sold for $9,968,66. That would equal an annualized rate of 0.538 per cent for the three-month bills and 0.631 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, stood at 0.82 per cent on Friday, up slightly from 0.81 per cent at the start of the week on Jan. 30.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.