Freddie Mac sells $2 bln of bills at higher rates
Sept 30 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $2 billion of reference bills at higher rates and weaker demand compared with last week's sale of similar maturities and comparable amounts.
Freddie Mac also sold $1 billion of three-month bills, due Dec. 30, 2013, at a 0.035 percent rate, up from the 0.025 percent rate for $1 billion three-month bills sold Sept. 23.
The company sold $1 billion of six-month bills, due March 31, 2014, at a 0.070 percent rate, up from the 0.064 percent rate for $1 billion six-month bills auctioned a week ago.
Demand for the three-month bills was weaker, with a bid-to-cover ratio of 4.04, down from the 4.35 ratio for the three-month bills sold Sept. 23.
Demand for the six-month bills was also weaker at 3.37, down from the bid-to-cover ratio of 4.10 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 Oct. 1.
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