T-bill yields were mixed at the latest auction.

The Treasury Department sold $7 billion in three-month bills at an average discount rate of 8.20%, up from 8.16% last week. Another $7 billion was sold in six-month bills at an average rate of 8.28%, down from 8.30%. The new discount rates understate the actual return to investors--8.49% for three-month bills and 8.76% for six-month bills. The discount rate reflects the price discount received when government securities are purchased at less than face value.