Dec 17 Freddie Mac, the No. 2 U.S.
home funding company, said on Monday it sold $2.5 billion of
reference bills at lower rates and weaker demand compared with
the most recent sales of similar maturities.
Freddie Mac said it sold $500 million of one-month bills,
due Jan. 14, 2013 at a 0.005 percent rate, down from the 0.100
percent rate for $500 million of one-month bills sold Nov. 19.
In addition, the company sold $1.0 billion of three-month
bills, due March 18, 2013, at a 0.073 percent rate, down from
the 0.118 percent rate for $1.5 billion three-month bills sold
Freddie Mac also sold $1.0 billion of six-month bills, due
June 17, 2013, at a 0.116 percent rate, also down from the 0.150
percent rate for $1.5 billion six-month bills sold last week.
Settlement is Dec. 18.
Demand for the one-month bills was lower, with a
bid-to-cover ratio of 6.24, from the 6.59 ratio for the
one-month bonds sold Nov. 19.
Demand for the three-month bills was down, with a
bid-to-cover ratio of 4.17, versus 5.69 for its sale of
three-month bills sold on Dec. 10, and demand for the six-month
bills was also down, at 3.79 compared with 4.78 for six-month
bills sold a week ago.
A bid-to-cover ratio reflects the amount of bids compared
with the amount offered. A lower ratio indicates weaker demand.