Rates on US Treasury bills rise at weekly auction with six-month bills up to March 2011 level
By Associated Press,
October 16, 2012
Dr. Pinna says…
Inflation will hit—the question is when.
All Central Banks are printing and have printed incredible
quantities of currency. At the moment, most of this currency is
sitting in banks and financial institutions which are afraid to lend.
When this currency starts to seep out prices will rise.
They will first rise in Government Bills and Bonds.
These instruments are what is used by the banking system.
We are beginning to see a slight rise in government debt across
The full flood will happen when the bankers become afraid
of holding currencies in their vaults.
ARTICLE FROM ASSOCIATED PRESS
WASHINGTON — Interest rates on short-term Treasury bills rose in Monday’s auction with rates on six-month bills rising to the highest level since March 2011.
The Treasury Department auctioned $32 billion in three-month bills at a discount rate of 0.105 percent, up from 0.100 percent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.150 percent, up from 0.145 percent last week.
The three-month rate was the highest since these bills averaged 0.110 percent on Sept. 24. The six-month rate was the highest since these bills averaged 0.170 percent on March 28, 2011.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.35, while a six-month bill sold for $9,992.42. That would equal an annualized rate of 0.106 percent for the three-month bills and 0.152 percent for the six-month bills.