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WASHINGTON (AP) - Interest rates on short-term Treasury bills fell in Monday's auction, with the rate on three-month bills dropping to the lowest point in nearly a year.
The Treasury Department auctioned $13 billion in three-month bills at a discount rate of 4.760 percent, down from 4.785 percent last week. Another $12 billion in six-month bills was auctioned at a discount rate of 4.815 percent, down from 4.820 percent last week.
The three-month rate was the lowest since these bills averaged 4.710 percent on June 5, 2006. The six-month rate was the lowest since 4.810 percent last Sept. 25.
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