December 20, 2016 / 4:56 PM / 8 months ago

U.S. sells 1-month bills at higher rate after Fed hike

NEW YORK, Dec 20 (Reuters) - The U.S. Treasury Department on Tuesday sold one-month bills at a higher interest rate following the Federal Reserve's first rate increase in a year last week.

The Treasury auctioned $55 billion of one-month bills at an interest rate of 0.490 percent, which was the highest for this debt maturity at an auction since October 2008, Treasury data showed.

This compared with an interest rate of 0.480 percent at the prior one-month bill sale last week before the Fed's rate decision.

The ratio of bids to the amount of one-month bills offered was 3.01, which the weakest since the one-month T-bill auction held in July 2015. (Reporting by Richard Leong Editing by W Simon)

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