Bids for US T-bills weakest since 2009

NEW YORK: Demand at the latest auctions of US three-month and six-month Treasury bills on Monday fell to its lowest level in about seven years due to increased supply and relatively low interest rates they offered in investors.

The ratio of bids to the amount of three-month Treasury bills offered was 2.98, which was the weakest since July 2009, while this gauge of demand at the six-month T-bill auction was 3.07, the lowest since June 2009, according to Treasury data.