Freddie Mac sells $3.0 bln bills at mixed rates
Dec 3 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3.0 billion of reference bills at mixed rates and demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1.5 billion of three-month bills, due March 4, 2013, at a 0.120 percent rate, unchanged from its sale of $1.5 billion three-month bills sold Nov 26.
The company also sold $1.5 billion of six-month bills, due June 3, 2013, at a 0.158 percent rate, down from a 0.160 percent rate for $1.5 billion six-month bills sold last week.
Demand for the three-month bills was higher, with a bid-to-cover ratio of 5.33, up from the 4.22 ratio for the three-month bonds sold Nov. 26, and demand for the six-month bills was lower, at 4.43 compared with 4.53 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 Dec. 4.
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