Short-term T-bill rates fall in sale
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The Treasury Department auctioned $22 billion in three-month bills at a discount rate of 3.175%, down from 3.390% last week. An additional $20 billion in six-month bills was auctioned at a discount rate of 3.340%, down from 3.460% 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 $9,919.74, while a six-month bill sold for $9,831.14.
Separately, the Federal Reserve said the average yield for one-year Treasury bills fell to 3.30% last week from 3.58% the previous week.
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