T-Bill Auction: The Treasury Department sold $7.2...

T-Bill Auction: The Treasury Department sold $7.2 billion of three-month bills at an average discount rate of 8.51%, up from 8.49% last week. Another $7.2 billion of new six-month bills was sold at an average discount rate of 8.50%, down from 8.54% last week. The rates for six-month bills were the lowest since Jan. 30, when they averaged 8.39%. The rates for three-month bills were the highest since they averaged 8.57% on Feb. 6. The discount rate reflects the price discount received when government securities are purchased at less than face value.