Freddie Mac sells $2.0 bln bills at higher rates
Dec 24 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $2.0 billion of reference bills at higher rates and mixed demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1.0 billion of three-month bills, due March 25, 2013, at a 0.090 percent rate, up from the 0.073 percent rate for its sale of $1.0 billion three-month bills sold Dec 17.
The company also sold $1.0 billion of six-month bills, due June 24, 2013, at a 0.139 percent rate, also up from a 0.116 percent rate for $1.0 billion six-month bills sold last week.
Demand for the three-month bills was lower, with a bid-to-cover ratio of 3.97, down from the 4.17 ratio for the three-month bills sold Dec. 17, and demand for the six-month bills was higher, at 4.22 compared with 3.79 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. 26.
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