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WASHINGTON (AP) - Interest rates on short-term Treasury bills fell in Monday's auction with the six-month bill dropping to the lowest point in more than a year.
The Treasury Department auctioned $14 billion in three-month bills at a discount rate of 4.730 percent, down from 4.760 percent last week. The government auctioned another $13 billion in six-month bills at a discount rate of 4.735 percent, down from 4.815 percent last week.
The three-month rate was the lowest since three-month bills averaged 4.710 percent on June 5 of last year. The six-month rate was the lowest since 4.700 percent on April 10, 2006.
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