The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 2.965%, up from 2.935% last week. An additional $15 billion in six-month bills was auctioned at a discount rate of 3.06%, down from 3.08% last week.
The new discount rates understate the actual return to investors -- 3.029% for three-month bills with a $10,000 bill selling for $9,925.05 and 3.151% for a six-month bill selling for $9,845.30.
