WASHINGTON (AP) -- Interest rates on short-term Treasury bills were mixed in Monday's auction. Rates on three-month bills dropped to the lowest level since late January, while rates on six-month bills rose.The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.24 percent, down from 0.28 percent last week. Another $30 billion in six-month bills was auctioned at a discount rate of 0.46 percent, up from 0.44 percent last week.
The three-month rate was the lowest since those bills averaged 0.15 percent on Jan. 26. The six-month rate was the highest since 0.495 percent on Feb. 23.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,993.93, while a six-month bill sold for $9,976.74. That would equal an annualized rate of 0.243 percent for the three-month bills, and 0.467 percent for the six-month bills.
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