Interest rates rise in Treasury auction |
|
|
|
Published
:
Tue, 16 Jan 2007 21:59
|
WASHINGTON (AFX) - Interest rates on short-term Treasury bills rose in Tuesday's auction with three-month bills climbing to the highest level since October.The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 4.975 percent, up from 4.940 percent last week. Another $14 billion in six-month bills was auctioned at a discount rate of 4.950 percent, up from 4.920 percent last week.The three-month rate was the highest since three-month bills averaged 4.990 percent on Oct. 23. The six-month rate was the highest since 4.955 percent on Nov. 13.The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,874.24 while a six-month bill sold for $9,749.75.Separately, the Federal Reserve said Tuesday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 5.03 percent last week, up from 4.98 percent the previous week.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Interest rates rise in weekly auction 