Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels since late last summer.
The Treasury Department auctioned $33 billion in three-month bills at a discount rate of 0.095 percent, up from 0.08 percent last week. An additional $31 billion in six-month bills was auctioned at a discount rate of 0.13 percent, up from 0.10 percent last week.
The three-month rate was the highest since three-month bills averaged 0.115 percent on Aug. 1. The six-month rate was the highest since these bills averaged 0.150 percent, also on Aug. 1.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.60, while a six-month bill sold for $9,993.43.
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 0.15 percent last week from 0.13 percent.
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