Freddie Mac sells $3 billion higher rates, weaker demand
Feb 11 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3 billion of reference bills at higher rates and weaker demand compared with last week's sale of similar maturities.
Freddie Mac sold $1.5 billion of three-month bills, due May 13, 2013, at a 0.090 percent rate, up from the 0.084 percent rate for its sale of $1 billion three-month bills sold Feb. 4.
The company sold $1.5 billion of six-month bills, due Aug. 12, 2013, at a 0.125 percent rate, up from a 0.116 percent rate for $1 billion six-month bills sold last week.
Demand for the three-month bills was lower with a bid-to-cover ratio of 4.85, down from the 5.34 ratio for the three-month bills sold Jan. 28.
Demand for the six-month bills was also lower at 4.53 compared with 5.27 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.
Settlement is Feb. 12.
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