Treasury bills hit highest rate in nearly a decade

Herald staff

WASHINGTON — Interest rates on short-term Treasury bills rose in Monday’s auction with the rate on three-month bills hitting the highest level in nearly a decade.

The Treasury Department auctioned three-month bills at a discount rate of 6.160 percent. Six-month bills were auctioned at a discount rate of 6.050 percent.

The three-month rate was up from 6.080 percent last week; the six-month rate was up from 5.990 percent. The discount rates understate the actual return to investors — 6.344 percent for three-month bills with a $10,000 bill selling for $9,844.30 and 6.328 percent for a six-month bill selling for $9,694.10.

The Federal Reserve also said Monday that the average yield for one-year Treasury bills, the most popular index for changing adjustable rate mortgages, edged down to 5.94 percent last week from 5.98 percent the previous week.

  • Monday prices: Gold sold for $271.45, silver sold for $4.835 and platinum sold for $601.50.

  • Kodak shuffle: Eastman Kodak Co. is shuffling executives, consolidating departments and focusing on new endeavors aimed at driving growth in digital technologies. The changes were made to ensure that new products are introduced at a faster pace and to improve customer relations, said Daniel A. Carp, Kodak’s president and chief executive officer.

  • Lucent axes exec: Lucent Technologies Inc. fired its top executive on Monday after warning for an astonishing fourth time this year that profits will be weak despite booming demand for network equipment to expand and upgrade the Internet. Richard McGinn will be replaced as chairman and chief executive temporarily by Henry Schacht, a former Lucent chairman who will head the search for a new leader.
    Talk to us

    > Give us your news tips.

    > Send us a letter to the editor.

    > More Herald contact information.

  • More in Local News

    Customers enter and exit the Costco on Dec. 2, 2022, in Lake Stevens. (Olivia Vanni / The Herald)
    Costco stores could be impacted by looming truck driver strike threat

    Truck drivers who deliver groceries and produce to Costco warehouses… Continue reading

    Two Washington State ferries pass along the route between Mukilteo and Clinton as scuba divers swim near the shore Sunday, Oct. 22, 2023, in Mukilteo, Washington. (Ryan Berry / The Herald)
    Ferry system increases ridership by a half million in 2024

    Edmonds-Kingston route remains second-busiest route in the system.

    Firefighters respond to a 911 call on July 16, 2024, in Mill Creek. Firefighters from South County Fire, Tulalip Bay Fire Department and Camano Island Fire and Rescue left Wednesday to help fight the LA fires. (Photo provided by South County Fire)
    Help is on the way: Snohomish County firefighters en route to LA fires

    The Los Angeles wildfires have caused at least 180,000 evacuations. The crews expect to arrive Friday.

    x
    Edmonds police shooting investigation includes possibility of gang violence

    The 18-year-old victim remains in critical condition as of Friday morning.

    The Everett Wastewater Treatment Plant along the Snohomish River. Thursday, June 16, 2022 in Everett. (Olivia Vanni / The Herald)
    Everett council approves water, sewer rate increases

    The 43% rise in combined water and sewer rates will pay for large infrastructure projects.

    Robin Cain with 50 of her marathon medals hanging on a display board she made with her father on Thursday, Jan. 2, 2025 in Lake Stevens, Washington. (Olivia Vanni / The Herald)
    Running a marathon is hard. She ran one in every state.

    Robin Cain, of Lake Stevens, is one of only a few thousand people to ever achieve the feat.

    People line up to grab food at the Everett Recovery Cafe on Wednesday, Dec. 4, 2024 in Everett, Washington. (Olivia Vanni / The Herald)
    Coffee, meals and compassion are free at the Everett Recovery Cafe

    The free, membership-based day center offers free coffee and meals and more importantly, camaraderie and recovery support.

    Devani Padron, left, Daisy Ramos perform during dance class at Mari's Place Monday afternoon in Everett on July 13, 2016. (Kevin Clark / The Herald)
    Mari’s Place helps children build confidence and design a better future

    The Everett-based nonprofit offers free and low-cost classes in art, music, theater and dance for children ages 5 to 14.

    The Everett Wastewater Treatment Plant along the Snohomish River on Thursday, June 16, 2022 in Everett, Washington. (Olivia Vanni / The Herald)
    Everett water, sewer rates could jump 43% by 2028

    The rate hikes would pay for improvements to the city’s sewer infrastructure.

    The bond funded new track and field at Northshore Middle School on Thursday, Oct. 24, 2024 in Bothell, Washington. (Courtesy of Northshore School District)
    Northshore School District bond improvements underway

    The $425 million bond is funding new track and field complexes, playgrounds and phase one of two school replacements.

    Pharmacist Nisha Mathew prepares a Pfizer COVID booster shot for a patient at Bartell Drugs on Broadway on Saturday, Oct. 1, 2022, in Everett, Washington. (Ryan Berry / The Herald)
    Everett lawmakers back universal health care bill, introduced in Olympia

    Proponents say providing health care for all is a “fundamental human right.” Opponents worry about the cost of implementing it.

    Outside of the updated section of Lake Stevens High School on Thursday, Feb. 27, 2020 in Lake Stevens, Wa. (Olivia Vanni / The Herald)
    Lake Stevens, Arlington school measures on Feb. 11 ballot

    A bond in Lake Stevens and a levy in Arlington would be used to build new schools.

    Support local journalism

    If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.