Money markets bids for us 3 month bills lowest in 7 weeks

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NEW YORK, June 22 The U.S. Treasury Department on Monday sold $24 billion of three-month bills to the lowest overall demand in seven weeks, paying investors an interest rate of 0.01 percent, matching last week's auction, Treasury data showed. The ratio of bids submitted to the amount of three-month T-bills offered was 4.16, down from previous week's 4.57 and the lowest since 4.13 at an auction held on May 14.

The Treasury also sold $24 billion of six-month bills at an interest rate of 0.08 percent, down from 0.10 percent the prior week.

The six-month T-bill sale's bid-to-cover ratio was 4.29, up from last week's 4.19.