Rates rise at weekly US Trea­sury bill auc­tion

Cape Breton Post - - Business -

WASHINGTON — In­ter­est rates on short-term Trea­sury bills rose in Mon­day’s auc­tion to their high­est lev­els in more than eight years. The Trea­sury Depart­ment auc­tioned $39 bil­lion in three-month bills at a dis­count rate of 0.845 per cent, up from 0.820 per cent last week. Another $33 bil­lion in six-month bills was auc­tioned at a dis­count rate of 0.975 per cent, up from 0.955 per cent last week.

The three-month rate was the high­est since those bills av­er­aged 0.900 per cent on Oct. 27, 2008. The six-month rate was the high­est since those bills av­er­aged 0.990 per cent Nov. 10, 2008. The dis­count rates re­flect that the bills sell for less than face value.

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