April 24, 2018 / 4:12 PM / 7 months ago

U.S. sells 1-year T-bills at highest rate since July 2008

NEW YORK, April 24 (Reuters) - The U.S. Treasury Department on Tuesday sold $26 billion of one-year bills at an interest rate of 2.200 percent, the highest level since July 2008, Treasury data showed.

The ratio of bids to the amount of one-year T-bills offered was 3.39, which was the strongest in five auctions. This measure of overall auction demand was 2.99 at the prior one-year bill sale in March.

The Treasury also sold $45 billion of one-month bills at an interest rate of 1.680 percent, which was higher than the 1.63 percent at the prior one-month bill sale last week.

The bid-to-cover ratio at Tuesday’s one-month auction was 3.16, above last week’s 3.08.

Reporting by Richard Leong Editing by Chizu Nomiyama

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