Freddie Mac sells $2.0 bln bills at mixed rates and demand
Sept 9 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $2.0 billion of reference bills at mixed rates and demand compared with the most recent sales of similar maturities and comparable amounts.
Freddie Mac sold $1.0 billion of three-month bills, due Dec. 9, 2013, at a 0.040 percent rate, down from the 0.045 percent rate for $1.0 billion three-month bills sold Sept. 3.
The company also sold $1.0 billion of six-month bills, due March 10, 2014, at a 0.080 percent rate, unchanged from the 0.080 percent rate for its sale of $1.0 billion six-month bills a week ago.
Demand for the three-month bills was stronger, with a bid-to-cover ratio of 4.12, up from the 3.90 ratio for the three-month bills sold Sept. 3.
Demand for the six-month bills was weaker, at 4.10 compared with the bid-to-cover ratio of 4.62 for the six-month bills sold last week.
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 Sept. 10.
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