Advertisement

California | BRIEFLY / THE ECONOMY

Treasury Bill Rates Decline in Auction

April 13, 1999|Associated Press

The Treasury Department sold $6.51 billion in three-month bills at a discount rate of 4.19%, down from 4.27% last week. An additional $7.5 billion was sold in six-month bills at a rate of 4.32%, down from 4.35%. The three-month rate is the lowest since Oct. 26, when the bills sold for 4.07%. The six-month rate is the lowest since Jan. 25, when the rate was 4.28%. The new discount rates understate the actual return to investors: 4.31% for three-month bills, with a $10,000 bill selling for $9,894.10, and 4.49% for a six-month bill selling for $9,781.60. 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, fell to 4.66% last week from 4.72% the previous week.

Advertisement
Los Angeles Times Articles
|
|
|