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U.S. Treasury bill rates fall on signs of possible budget deal

NEW YORK (Reuters) - Interest rates on U.S. Treasury bills fell on Tuesday on reduced jitters over a possible U.S. default as there were hints of a possible fiscal agreement that would reopen the government after it was partially shut for the first time in 17 years.

Treasury rates on T-bill issues due in October to November fell to their lowest level in a week, although they remained at elevated levels compared with three weeks ago.

That debt was seen as most vulnerable if the White House and Congress failed to raise the statutory $16.7 trillion borrowing limit which is on track to be exhausted on Thursday.

The T-bill issue due on November 7 last traded at 0.2025 percent, down 5 basis points from late on Friday.

The U.S. bond market was closed on Monday due to the Columbus Day holiday.

(Reporting by Richard Leong Editing by W Simon)