April 3, 2018 / 3:58 PM / 10 months ago

U.S. sells one-month T-bills at lower interest rate

NEW YORK, April 3 (Reuters) - The U.S. Treasury Department on Tuesday said it sold $55 billion of one-month bills at an interest rate of 1.695 percent, lower than the 1.705 percent rate on $65 billion of one-month supply sold a week ago.

The ratio of bids to the amount offered was 2.90, which was up from last week’s one-month T-bill sale and the highest in four weeks, Treasury data showed.

On Monday, the Treasury auctioned $48 billion in three-month bills and $42 billion in six-month bills.

This week’s T-bill supply totaled $145 billion, down from last week’s $185 billion.

The Treasury is expected to further scale back its T-bill issuance in the coming weeks as the government collects more taxes ahead of the annual tax filing deadline later this month.

Reporting by Richard Leong Editing by Tom Brown

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