Jan 22 Freddie Mac, the No. 2 U.S. home funding company, on Tuesday said it sold $2.5 billion of reference bills at mixed rates and stronger demand compared with the most recent sales of similar maturities.
Freddie Mac said it sold $500 million of one-month bills due Feb. 19, 2013, at a 0.037 percent rate, up from the 0.005 percent rate for $500 million of one-month bills sold Dec. 17.
The company also sold $1 billion of three-month bills, due April 22, 2013, at a 0.082 percent rate, down from the 0.084 percent rate for its sale of $1.5 billion three-month bills sold Jan. 14.
Freddie Mac sold $1 billion of six-month bills, due July 22, 2013, at a 0.109 percent rate, down from a 0.115 percent rate for $1.5 billion six-month bills sold Jan. 14.
Demand for the one-month bills was higher, with a bid-to-cover ratio of 6.55, up from 6.24 for one-month bills sold Dec. 17.
Demand for three-month bills was higher, with a bid-to-cover ratio of 5.08, up from the 4.62 ratio for the three-month issue sold Jan. 14, and demand for the six-month bills was stronger, at 5.35, compared with 5.09 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. 23.