Dec 31 Freddie Mac, the No. 2 U.S.
home funding company, on Monday said it sold $2.0 billion of
reference bills at lower rates and mixed demand compared with
last week's sale of similar maturities.
Freddie Mac said it sold $1.0 billion of three-month bills,
due April 1, 2013, at a 0.080 percent rate, down from the 0.090
percent rate for its sale of $1.0 billion three-month bills sold
on Dec 24.
The company also sold $1.0 billion of six-month bills, due
July 1, 2013, at a 0.134 percent rate, also down from a 0.139
percent rate for its $1.0 billion six-month bills sold last
Demand for the three-month bills was higher, with a
bid-to-cover ratio of 4.30, up from the 3.97 ratio for the
three-month bills sold Dec. 24, and demand for the six-month
bills was lower, at 4.05 compared with 4.22 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 Jan. 2.