September 18, 2017 / 4:23 PM / 2 months ago

U.S. sells 6-month bills at highest rate since October 2008

NEW YORK, Sept 18 (Reuters) - The U.S. Treasury Department on Monday sold $36 billion of six-month bills at an interest rate of 1.180 percent, the highest level since Oct. 27, 2008 when six-month T-bills were sold at 1.400 percent, Treasury data showed.

A week ago, the Treasury sold six-month T-bills at an interest rate of 1.140 percent.

The ratio of bids to the amounts of six-month bills offered was 3.21, up from 3.12 last week.

The Treasury also auctioned $42 billion of three-month bills at an interest rate of 1.045 percent, matching the level last seen on July 3.

The bid-to-cover ratio at the latest three-month bill sale was 3.05, compared with 3.03 the prior week. (Reporting by Richard Leong; Editing by Bernadette Baum)

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