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BRIEFLY

Yields on six-month Treasury bills rose again.

July 30, 1985

The Treasury Department sold $7.2 billion in new three-month bills at an average discount rate of 7.23%, the same as last week. Another $7.2 billion was sold in new six-month bills at an average discount rate of 7.4%, up from 7.35% last week. The new Treasury bill discount rates understate the actual return to investors--7.47% for three-month bills and 7.79% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.

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