Interest rates on short-term Treasury bills rose in Monday's auction with rates on three-month bills climbing to their highest level in eight years. The Treasury Department auctioned $42 billion in three-month bills at a discount rate of 0.420 percent, up from 0.350 percent last week. The three-month rate was the highest since three-month bills averaged 0.530 percent on Nov. 3, 2008. The six-month rate was the highest since those bills averaged 0.540 percent on Sept. 12. That would equal an annualized rate of 0.426 percent for the three-month bills and 0.544 percent for the six-month bills.

Source: ABC News November 07, 2016 23:27 UTC