Interest rates on short-term Treasury bills were unchanged in Monday's auction with both the three-month and six-month bills going for the same rates as the previous week.
The Treasury Department auctioned $29 billion in three-month bills at a discount rate of 0.030 per cent, matching last week's rate. Another $24 billion in six-month bills was auctioned at a discount rate of 0.050 per cent, also unchanged from last week.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.23 while a six-month bill sold for $9,997.47. That would equal an annualized rate of 0.030 per cent for the three-month bills and 0.051 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 0.11 per cent last week from 0.10 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.