Advertisement
YOU ARE HERE: LAT HomeCollections

California | BRIEFLY / THE ECONOMY

Interest Rates Up for 3-, 6-Month T-Bills

April 20, 1999|Associated Press

The Treasury Department sold $7.52 billion in three-month bills at a discount rate of 4.23%, up from 4.19% last week. An additional $7.51 billion was sold in six-month bills at a rate of 4.37%, up from 4.32%. The three-month rate is the highest since April 5, when the bills sold for 4.27%. The six-month rate is the highest since March 22, when the rate was 4.42%. The new discount rates understate the actual return to investors: 4.35% for three-month bills, with a $10,000 bill selling for $9,893.10, and 4.54% for a six-month bill selling for $9,779.10. The next auction of two-year notes will be April 28. 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, rose to 4.67% last week from 4.66% the previous week.

Advertisement
Los Angeles Times Articles
|
|
|