US 6-month T-bills sold at highest rate since 2009

NEW YORK: The US Treasury Department on Monday sold $26 billion of six-month bills at an interest rate of 0.35 percent, which was the highest at a six-month auction since April 2009 when it hit 0.37 percent, Treasury data showed.

The ratio of bids to the amount offered was 3.46, down from 3.91 the prior week and the lowest in four auctions.

In the meantime, the Treasury paid investors an interest rate of 0.140 percent on $28 billion of three-month T-bills.

It was below last week's 0.145 percent, matching the level set on Feb. 28, 2011.

The bid-to-cover ratio at the latest three-month bill sale was 3.66, up from 3.42 the previous week and the highest in three auctions.