BUSINESS NOTES; TREASURY BILL RATES AT NINE-YEAR HIGH.Interest rates on short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. Treasury securities rose in Monday's auction with three-month bills hitting their highest level in nine years. The Treasury Department sold $9.5 billion in three-month bills at a discount rate of 6.11 percent, up from 6.09 percent last week. An additional $8.5 billion was sold in six-month bills at a rate of 6.09 percent, up from 6.075 percent. The three-month rate was the highest since Jan. 28, 1991, when the bills sold for 6.22 percent. The six-month rate was the highest since July 31 when the rate was 6.115. The new discount rates understate un·der·state v. un·der·stat·ed, un·der·stat·ing, un·der·states v.tr. 1. To state with less completeness or truth than seems warranted by the facts. 2. the actual return to investors - 6.291 percent for three-month bills with a $10,000 bill selling for $9,843.90 and 6.371 percent for a six-month bill selling for $9,692.10. In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , rose to 6.21 percent last week from 6.17 percent the previous week. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. MiniMed shares jump by 9 percent Shares of Sylmar-based insulin pump insulin pump n. A portable device for people with diabetes that injects insulin at programmed intervals in order to regulate blood sugar levels. maker MiniMed jumped 9 percent after a 2-for-1 split took effect before Monday trading. MiniMed shares finished the day at $78.31, up $7.13 on heavy trading of 878,200 shares. ``MiniMed is a company that everyone wants to own,'' said Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. analyst Sam Chang. ``It's consistently beaten estimates for the last 14 or 15 quarters.'' Chang added that MiniMed's insulin pump has reached only 11 percent of its potential market and that the company plans to release a glucose monitor for home use within 18 months. - Daily News |
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