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WASHINGTON (AP) - Interest rates on short-term Treasury bills fell in Monday's auction, with rates on six-month bills dropping to the lowest level in more than a year.
The Treasury Department auctioned $21 billion in three-month bills at a discount rate of 4.630 percent, down from 4.770 percent last week. Another $17 billion in six-month bills was auctioned at a discount rate of 4.710 percent, down from 4.730 percent last week.
The three-month rate was the lowest since three-month bills averaged 4.490 percent on June 18. The six-month rate was the lowest since these bills averaged 4.700 percent on April 10, 2006.
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