Freddie Mac sells $2 bln bills at mixed rates
Oct 31 (Reuters) - Freddie Mac on Monday said it sold $2.0 billion of bills at mixed rates and demand compared with the most recent sales of similar maturities.
Freddie Mac said it sold $1.0 billion of three-month bills, due Jan. 30, 2012, at a 0.030 percent stop-out rate, up from a 0.024 percent rate for its $1.0 billion of one-month bills sold on Oct. 24.
The company also sold $1.0 of six-month bills due April 30, 2012 at a stop-out rate of 0.089 percent, unchanged from last week's rate for its $1.0 billion of six-month bills.
Demand for the three-month bills was lower, with a bid-to-cover ratio of 4.50 versus 5.16 for the three-month bills sold Oct. 24, while demand for the six-month bills was higher at 4.47 compared with 3.88 for the six-month bills sold last week.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand, while a lower ratio indicates weaker demand.