6 Month Treasury

The Treasury Department sold $9.5 billion in three-month bills at a discount rate of 5.960%, up from 5.945% last week. An additional $8.5 billion was sold in six-month bills at a rate of 5.935%, down from 5.955%. The new discount rates understate the actual return to investors--6.137% for three-month bills, with a $10,000 bill selling for $9,849.30, and 6.203% for a six-month bill selling for $9,700.

The Treasury Department sold $9.5 billion in three-month bills at a discount rate of 6.110%, up from 6.090% last week. An additional $8.5 billion was sold in six-month bills at a rate of 6.090%, up from 6.075%. The three-month rate was the highest since Jan. 28, 1991, when the bills sold for 6.22%. The six-month rate was the highest since July 31, when the rate was 6.115%. The new discount rates understate the actual return to investors--6.