Dec 3 Freddie Mac, the No. 2 U.S. home
funding company, on Monday said it sold $3.0 billion of
reference bills at mixed rates and demand compared with last
week's sale of similar maturities.
Freddie Mac said it sold $1.5 billion of three-month bills,
due March 4, 2013, at a 0.120 percent rate, unchanged from its
sale of $1.5 billion three-month bills sold Nov 26.
The company also sold $1.5 billion of six-month bills, due
June 3, 2013, at a 0.158 percent rate, down from a 0.160 percent
rate for $1.5 billion six-month bills sold last week.
Demand for the three-month bills was higher, with a
bid-to-cover ratio of 5.33, up from the 4.22 ratio for the
three-month bonds sold Nov. 26, and demand for the six-month
bills was lower, at 4.43 compared with 4.53 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. 4.