Short-term T-bill rates continue rise

The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.815%, up from 4.79% last week. An additional $14 billion in six-month bills was auctioned at the high discount rate of 4.85%, up from 4.81% last week.

The return to investors is 4.956% for the three-month bills, with a $10,000 bill selling for $9,878.29, and 5.055% for the six-month bills, with a $10,000 bill selling for $9,754.81.

Treasury bills, which represent short-term government borrowing, are sold at a discount from maturity value. The amount paid to investors at maturity reflects the difference between the price paid for a bill and the par value.