Short-Term T-Bill Rates Mixed at Auction

Interest rates on short-term Treasury securities were mixed at auction. The Treasury Department sold $6.5 billion in three-month bills at a discount rate of 4.72%, up from 4.66% last week. An additional $7.5 billion was sold in six-month bills at a rate of 4.81%, down from 4.89%. An auction of two-year notes is scheduled for Wednesday. In a separate report, the Federal Reserve said the average yield for one-year Treasury bills, the most popular index for making changes in adjustable-rate mortgages, declined to 5.23% last week from 5.26% the previous week.