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Rates unchanged in weekly US Treasury auction

Published on NewsOK Modified: March 10, 2014 at 2:23 pm •  Published: March 10, 2014
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WASHINGTON (AP) — Interest rates on short-term Treasury bills were unchanged in Monday's auction.

The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.050 percent, unchanged from last week. An additional $23 billion in six-month bills was auctioned at a discount rate of 0.080 percent, also holding steady from week.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.74 while a six-month bill sold for $9,995.96. That would equal an annualized rate of 0.051 percent for the three-month bills and 0.081 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, was 0.12 percent last week, up from 0.10 percent the previous week.