Short-term T-bill rates mixed in sale
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The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.780%, up from 4.775% last week.
An additional $14 billion in six-month bills was auctioned at a discount rate of 4.805%, down from 4.810% last week.
The new rates understate the actual return to investors -- 4.919% for three-month bills, with a $10,000 bill selling for $9,879.17, and 5.007% for a six-month bill selling for $9,757.08.
Separately, the Federal Reserve said the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 4.95% last week from 4.86% the previous week.
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