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YIELDS INCREASE ON TREASURY BILLS

The Treasury Department sold $9.5 billion in three-month bills at a discount rate of 6.005 percent Monday, up from 5.960 percent last week.

An additional $8.5 billion was sold in six-month bills at a rate of 5.985 percent, up from 5.935 percent.

The new discount rates understate the actual return to investors -- 6.183 percent for three-month bills with a $10,000 bill selling for $9,848.20, and 6.258 percent for a six-month bill selling for $9,697.40.

Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 6.09 percent, from 6.14 percent the previous week.

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