Freddie Mac sells $2.25 bln bills at mixed rates, mixed demand
Dec 9 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $2.25 billion of reference bills at mixed interest rates and mixed demand compared with the most recent sale of similar maturities and comparable amounts.
Freddie Mac sold $250 million of one-month bills, due Jan. 6, 2014, at a 0.030 percent rate, up from the 0.010 percent rate for $250 million one-month bills sold Oct. 28.
Freddie Mac sold $1 billion of three-month bills, due March 10, 2014, at a 0.090 percent rate, a repeat of the rate for the $1 billion three-month bills sold Dec. 2.
The company sold $1 billion of six-month bills, due June 9, 2014, at a 0.130 percent rate, up from the 0.120 percent rate for $1 billion six-month bills sold a week ago.
Demand for the one-month bills was unchanged with a bid-to-cover ratio of 6.50, a repeat of the ratio for the one-month bills auctioned Oct. 28.
Demand for the three-month bills was stronger, with a bid-to-cover ratio of 4.31, up from the 4.07 ratio for the three-month bills auctioned Dec. 2.
Demand for the six-month bills was weaker at 4.84, down from ratio of 5.03, for the 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. 10.
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