April 1 Freddie Mac, the No. 2 U.S.
home funding company, on Monday said it sold $2.0 billion of
reference bills at mixed rates and demand compared with last
week's sale of similar maturities.
Freddie Mac said it sold $1.0 billion of three-month bills,
due July 11, 2013, at a 0.085 percent rate, up from the 0.069
percent rate for its sale of $1.0 billion three-month bills on
The company sold $1.0 billion of six-month bills, due Sept.
30, 2013, at a 0.125 percent rate, down from a 0.128 percent
rate for $1.0 billion six-month bills sold last week.
Demand for the three-month bills was higher, with a
bid-to-cover ratio of 5.75, up from the 4.80 ratio for the
three-month bills sold March 25. Demand for the six-month bills
was lower at 4.22 compared with 4.65 for six-month bills sold a
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 April 2.