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Rates on Short-Term Treasury Bills RiseWASHINGTON (AP) -- Interest rates on short-term Treasury securities rose in Monday's auction. The Treasury Department sold $18 billion in three-month bills at a discount rate of 0.890 percent, up from 0.875 percent last week. An additional $16 billion was sold in six-month bills at a rate of 0.955 percent, up from 0.950 percent. Both the three-month rate and six-month rates were the highest since Jan. 5, when the bills sold for 0.920 percent and 1.020 percent respectively. The new discount rates understate the actual return to investors - 0.907 percent for three-month bills with a $10,000 bill selling for $9,977.50 and 0.976 percent for a six-month bill selling for $9,951.70. Copyright 2004 Associated Press. All rights reserved. Back to Original Article: Mortgage News You Can Use
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