T-Bill Rates Mixed: The Treasury sold $9.4...

T-Bill Rates Mixed: The Treasury sold $9.4 billion of new three-month bills at an average discount rate of 7.19%, up from 7.18% last week. Another $9.4 billion of new six-month bills was sold at an average discount rate of 7.21%, unchanged from last week. The rates for the three-month bills were the highest since they sold for 7.32% on Sept. 24. The new discount rates understate the actual return to investors--7.42% for three-month bills, with a $10,000 bill selling for $9,818.30, and 7.59% for a six-month bill selling for $9,635.50. The discount rate reflects the price discount received when government securities are purchased at less than face value.