Rates on short-term bills drop at weekly Treasury auction
WASHINGTON (AP) — Interest rates on short-term Treasury bills fell in Monday's auction with rates on three-month bills dropping to their lowest level in four weeks.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0.53 percent last week from 0.55 percent the previous week.