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 August and rates on six-month bills unchanged.
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.025 per cent, up from 0.020 per cent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.060 per cent, unchanged from last week.
The three-month rate was the highest since those bills averaged 0.030 per cent on Aug. 25.
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 $9,996.97. That would equal an annualized rate of 0.025 per cent for the three-month bills and 0.061 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, was 0.12 per cent last week, up from 0.11 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.