BUSINESS NOTES RATES FOR T-BILLS DOWN SINCE JAN. 8.WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $13 billion in three-month bills at a discount rate of 5.090 percent, down from 5.220 percent last week. An additional $11 billion was sold in six-month bills at a rate of 4.920 percent, down from 5.055 percent. The three-month rate and the six-month rate were the lowest since Jan. 8, when the bills sold for 5.050 percent and 4.825 percent, respectively. 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 - 5.229 percent for three-month bills with a $10,000 bill selling for $9,871.30 and 5.115 percent for a six-month bill selling for $9,751.30. 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 4.85 percent last week from 4.79 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. Valencia/SBI joins with Asian firm VALENCIA - Valencia Entertainment/SBI has signed a joint-venture agreement with Greg Asian Holding of Singapore to build a studio and worldwide broadcast center, the first of its kind in Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . Valencia will also provide consulting services valued at more than $30 million. The joint venture is expected to achieve annual revenue of $410 million. - Daily News Bank to buy back low-priced stock SANTA CLARITA Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, - Valencia Bank & Trust announced plans Monday to periodically repurchase up to 10 percent of its equity capital. Shares would be repurchased at the prevailing market prices. The bank authorized the repurchase program because directors believe the bank's stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. . Shares of Valencia Bank closed Monday at $14.50. - Daily News Amgen flying high after court ruling THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - Stock in drugmaker Amgen rose more than 12 percent Monday, the first trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. since a federal judge ruled that Amgen's patent for an anti-anemia drug had been infringed upon. Rival Transkaryotic Therapies' shares plunged 40 percent on Monday before regaining some ground, closing off nearly 32 percent. Late Friday, U.S. District Judge William Young William Young may refer to:
Amgen climbed $7.63 Monday to close at $67.63. Transkaryotic fell $10.88, closing at $23.13 - Daily News `Erin's' film home worth lots more? VENTURA - Skip Royston's home was touched by fame and he figures that should be worth at least $20,000. The 1,181-square-foot midtown home on Emma Avenue was featured as the Julia Roberts home in the film ``Erin Brockovich'' and Royston is using the movie as a marketing device to enhance its value. ``I think there are a lot of people who would want to own a home like this and be willing to pay more for it,'' said Royston, who wants $289,999 for the three-bedroom, 1 1/2-bathroom house. Similar area homes fetch $235,000 to $270,000. Royston, 45, bought the house for $233,500 nine months ago. - Associated Press |
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