NEW YORK, March 7 The U.S. Treasury Department
on Tuesday sold $15 billion of one-month bills to solid demand
as it has reduced the supply of this short-dated debt maturity
in advance of a possible reinstatement of the federal debt
ceiling on March 15.
The ratio of bids to the amount of one-month bills offered
, which is a measure of auction demand, was 3.81,
down from 3.96 at the prior auction last week but higher than
its recent average.
The latest one-month T-bill was sold at an interest rate of
0.570 percent, the highest since October 2008.
A week ago, the Treasury sold $18 billion worth of one-month
debt at an interest rate of 0.40 percent.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)