WASHINGTON — Interest rates on short-term Treasury bills rose in yesterday’s auction, with six-month bills climbing to the highest level since early August.
The Treasury Department auctioned $29 billion in three-month bills at a discount rate of 0.140 percent, up from 0.135 percent last week. Another $29 billion was auctioned in six-month bills at a discount rate of 0.190 percent, up from 0.180 percent.
The three-month rate was the highest since these bills averaged 0.145 percent on Aug. 30. The six-month rate was the highest since these bills averaged 0.195 percent on Aug. 2.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,996.46, while a six-month bill sold for $9,990.39. That would equal an annualized rate of 0.142 percent for the three-month bills and 0.193 percent for the six-month bills.
Separately, the Federal Reserve said the average yield for one-year Treasury bills rose to 0.26 percent last week, from 0.25 percent.