March 4 Freddie Mac, the No. 2 U.S.
home funding company, on Monday said it sold $2 billion of
reference bills at lower rates and higher demand compared with
last week's sale of similar maturities.
Freddie Mac said it sold $1 billion of three-month bills,
due June 3, 2013, at a 0.123 percent rate, down from the 0.137
percent rate for its sale of $1.5 billion three-month bills sold
The company sold $1 billion of six-month bills, due Sept. 3,
2013, at a 0.145 percent rate, down from a 0.149 percent rate
for $1.5 billion six-month bills sold last week.
Demand for the three-month bills was stronger, with a
bid-to-cover ratio of 6.12, up from the 4.82 ratio for the
three-month bills sold Feb. 25. Demand for the six-month bills
was also higher, at 5.47 compared with 3.95 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
Settlement is March 5.