Interest rates on short-term Treasury bills fell in Monday's auction.
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.020 per cent, down from 0.040 per cent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.105 per cent, down from 0.145 per cent last week.
The three-month rate was the lowest since three-month bills averaged 0.015 per cent on March 9. The six-month rate was the lowest since those bills averaged 0.095 per cent, also on March 9.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,994.94, while a six-month bill sold for $9,946.92. That would equal an annualized rate of 0.020 per cent for the three-month bills and 0.107 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 0.25 per cent last week, the same as the previous week.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.