Rates rise at weekly Treasury bill auction

The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 4.875%, up from 4.825% last week. An additional $15 billion in six-month bills was auctioned at 4.9%, up from 4.885% last week.

The three-month rate was the highest since the bills averaged 4.905% on Nov. 27. The six-month rate was the highest since 4.935%, also on Nov. 27.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,876.77; a six-month bill sold for $9,752.28.