US 3-month bills sold at highest rate since 2008

NEW YORK: The US Treasury Department sold on Monday $37 billion of three-month bills at an interest rate of 0.350 percent, which was the highest since November 2008 and up from 0.305 percent last week, Treasury data showed.

The ratio of bids to the amount offered was 3.44, up from prior week's 3.31.

Meanwhile, the Treasury also auctioned $30 billion worth of six-month bills at an interest rate of 0.465 percent, which was the highest in three weeks and up from 0.415 percent the previous week.

The bid-to-cover ratio at the latest six-month T-bill sale was 3.86, up from 3.39 last week.