The US Treasury Department’s auction resulted in selling one block of $27 billion in three-month bills, at a discount rate of 0.065 percent, down 0.130 percent from last week. The Treasury Department sold another $27 billion in six-month bills at a discount rate of 0.150 percent compared to 0.210 percent last week.
The three-month rate was the lowest since these bills averaged 0.055 percent on Jan. 25. The six-month rate was the lowest since they averaged 0.135 percent, also on Jan. 25.
Falling rates would typically discourage investment in Treasury bills. But they also offer investors low risk, making them attractive for people seeking a safe place for their money during turbulent times.
Source: Associated Press