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Rates fall at weekly Treasury bill auction (AP)

We have all read latest news written by talented authors. This showdown Rates fall at weekly Treasury bill auction
(AP)
was a long time a coming. But the news doesn’t stop here. The writer shows two wonderful talents. Read the the rest sections to see what I mean. By: US Economy

WASHINGTON – Interest rates on short-term Treasury bills fell in Monday’s auction with rates on three-month bills dropping to the lowest level in six weeks.

The Treasury Department auctioned $29 billion in three-month bills at a discount rate of 0.130 percent. That’s down from 0.140 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.185 percent. That’s down from 0.190 percent last week.

The three-month rate was the lowest since these bills averaged 0.125 percent six weeks ago on Nov. 8. The six-month rate was the lowest since these bills averaged 0.180 percent on Nov. 15.

A discount rate reflects that the bill is selling for less than face value. For a $10,000 bill, the three-month price was $9,996.71 and the six-month price was $9,990.65. That would equal an annualized rate of 0.132 percent for the three-month bills and 0.188 percent 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, rose to 0.30 percent last week. That’s up from 0.29 percent the previous week.

The breaking news, Rates fall at weekly Treasury bill auction
(AP)
quoted from US Economy

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Posted by on Dec 23 2010. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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