Freddie Mac sells $3 bln bills at mixed rates, weaker demand
Nov 26 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3 billion of reference bills at mixed rates and weaker demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1.5 billion of three-month bills, due Feb. 25, 2013, at a 0.120 percent rate, down from the 0.124 percent rate for $1.5 billion three-month bills sold Nov 19.
The company also sold $1.5 billion of six-month bills, due May 28, 2013, at a 0.160 percent rate, a repeat of the rate for $1.5 billion six-month bills sold last week.
Demand for the three-month bills was lower, with a bid-to-cover ratio of 4.22, down from the 4.83 ratio for the three-month bonds sold Nov. 19, and demand for the six-month bills was also weaker, at 4.53 compared with 4.57 for 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, while a lower ratio indicates weaker demand.
Settlement is Nov. 27.