Interest Rates on Treasury Bills Rise

The Treasury Department sold $7.3 billion in three-month bills at an average discount rate of 5.165%, up from 5.160% last week. An additional $7.4 billion was sold in six-month bills, also at an average rate of 5.165% and up from 5.160%. The three-month rate was the highest since the bills sold for 5.17% on Aug. 11. The six-month rate was the highest since they averaged 5.19% on Sept. 2. Separately, the Federal Reserve Board said the average yield for one-year Treasury bills was 5.44% last week, the same as the previous week. The next auction of two-year notes is scheduled for Nov. 24; five-year notes on Nov. 25.