Interest rates unchanged in weekly US Treasury auction

WASHINGTON (AP) — Interest rates on short-term Treasury bills were unchanged in Tuesday's auction.

The Treasury Department auctioned $39 billion in three-month bills at a discount rate of 1.02 percent, the same rate as last week. Another $33 billion in six-month bills was auctioned at a discount rate of 1.115 percent, also unchanged.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,974.22 while a six-month bill sold for $9,943.63. That would equal an annualized rate of 1.037 percent for the three-month bills and 1.137 percent for the six-month bills.

The weekly auction is normally held on Monday but was held on Tuesday this week because of the Labor Day holiday.