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Treasury Bill Rates at Almost Record Low as Debt Ceiling Reached

Treasury bill rates were at almost record lows as government authorities curtailed short-term debt issuance to conserve borrowing capacity with the U.S. reaching its federal borrowing threshold of $14.3 trillion.

Ten-year Treasury notes fell as investors sought safety as Greece sought additional bailout funds. Bills remained near record lows as Treasury Secretary Timothy F. Geithner said he has taken action to stave off the federal debt limit until Aug. 2, using accounting measures that involve two retirement funds.