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Freddie Mac sells $3.0 bln bills at mixed rates and demand
November 4, 2013 / 2:57 PM / in 4 years

Freddie Mac sells $3.0 bln bills at mixed rates and demand

Nov 4 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3.0 billion of reference bills at mixed interest rates and demand compared with the most recent sales of similar maturities and comparable amounts.

Freddie Mac sold $1.0 billion of three-month bills, due Feb. 2, 2014, at a 0.059 percent rate, up from the 0.044 percent rate for $1.0 billion three-month bills sold Oct. 28.

The company sold $1.0 billion of six-month bills, due May 5, 2014, at a 0.098 percent rate, also up from the 0.093 percent rate for $1.0 billion six-month bills auctioned a week ago.

Freddie Mac also sold $1.0 billion of 12-month bills due Nov. 3, 2014 at a 0.152 percent rate, down from a 0.154 percent rate for $1.0 billion of 12-month bills sold on Oct. 21.

Demand for the three-month bills was stronger, with a bid-to-cover ratio of 4.58, up from the 4.15 ratio for the three-month bills sold Oct. 28.

Demand for the six-month bills was also stronger at 4.45 also up from the bid-to-cover ratio of 3.37 for the six-month bills auctioned last week.

Demand for the 12-month bills was lower at 3.90 compared with the 4.23 rate for the 12-month bills sold Oct. 21.

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 reflects weaker demand.

Settlement is Nov. 5.

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