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Freddie Mac sells $2.0 bln of bills at lower rates
December 31, 2012 / 3:00 PM / 5 years ago

Freddie Mac sells $2.0 bln of bills at lower rates

Dec 31 (Reuters) - 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 week. 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.

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