Feb 25 (Reuters) – Freddie Mac, the No. 2 U.S.
home funding company, on Monday said it sold $3.5 billion of
reference bills at higher rates and mixed demand compared with
the most recent sales of similar maturities.
Freddie Mac said it sold $500 million of one-month bills due
March 25, 2013, at a 0.102 percent rate, up from the 0.037
percent rate for $500 million of one-month bills sold Jan. 22.
The agency also sold $1.5 billion of three-month bills, due
May 28, 2013, at a 0.137 percent rate, also up from the 0.129
percent rate for its sale of $1.5 billion three-month bills sold
last week.
Freddie Mac sold $1.5 billion of six-month bills, due Aug 26,
2013, at a 0.149 percent rate, up from a 0.145 percent rate for
$1.5 billion six-month bills sold Feb. 19.
Demand for the one-month bills was lower, with a bid-to-cover
ratio of 5.90, down from 6.55 for one-month bills sold Jan. 22.
Demand for three-month bills was up, with a bid-to-cover
ratio of 4.82, from the 4.29 ratio for the three-month bills
sold on Feb. 19, and demand for the six-month bills was lower,
at 3.95, compared with 4.42 for the 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 Feb. 26.
