July 30, 2018 / 3:53 PM / a year ago

U.S. pays highest rate on 3-month bills in over a decade

NEW YORK, July 30 (Reuters) - The U.S. Treasury Department on Monday sold $51 billion in three-month debt at interest rate of 2.000 percent, the most it paid dealers and investors at an three-month bill auction in more than a decade, Treasury data showed.

The government’s short-term borrowing costs have been rising on expectations of further rate increases from the Federal Reserve and projections of growing revenue shortfalls following a massive tax cut implemented last December. (Reporting by Richard Leong)

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