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Yields increase on Treasury bills
2/3/2004
WASHINGTON (AP) - Interest rates on short-term Treasury securities rose in Monday's auction.
The Treasury Department sold $19 billion in three-month bills at a discount rate of 0.920 percent, up from 0.890 percent last week.
An additional $17 billion was sold in six-month bills at a rate of 1.000 percent, up from 0.955 percent.
The new discount rates understate the actual return to investors - 0.939 percent for three-month bills with a $10,000 bill selling for $9,976.70, and 1.023 percent for a six-month bill selling for $9,949.40.
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