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WASHINGTON (AP) - Interest rates on short-term Treasury bills rose in Tuesday's auction to the highest levels in five years.
The Treasury Department auctioned $20 billion in three-month bills at a discount rate of 4.450 percent, up from 4.440 percent last week. Another $18 billion in six-month bills was auctioned at a discount rate of 4.545 percent, up from 4.540 percent last week.
The three-month rate was the highest since these bills averaged 4.520 percent March 12, 2001. The six-month rate was the highest since 4.770 percent on Feb. 20, 2001.
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