Freddie Mac sells $2 bln bills at mixed rates, mixed demand
Oct 9 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said on Tuesday it sold $2 billion of reference bills at mixed rates and mixed demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1 billion of three-month bills due Jan. 7, 2013 at a 0.119 percent stop-out rate, down from the 0.121 percent rate for its $1 billion three-month bills sold Oct. 1.
The company also sold $1 billion of six-month bills due April 8, 2013 at a 0.154 percent rate, up from the 0.151 percent rate for $1 billion six-month bills sold a week ago.
Demand for the three-month bills was stronger, with the bid-to-cover ratio at 5.12 versus 5.05 for the three-month bills sold Oct. 1. Demand for the six-month bills was weaker, at 5.11 vs 5.30 for the six-month bills sold a week ago.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand.
Settlement is Oct. 10.
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