Reuters: Market News: Freddie Mac $2 bln bill sale-rates up, demand down

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Freddie Mac $2 bln bill sale-rates up, demand down Apr 9th 2012, 13:58 April 9 | Mon Apr 9, 2012 9:58am EDT April 9 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said on Monday it sold $2 billion of reference bills at higher rates and weaker demand compared with the last week's sale of similar maturities. Freddie Mac said it sold $1 billion of three-month bills due July 9, 2012 at a 0.103 percent stop-out rate, up from the 0.088 rate for its $1 billion three-month bills sold on April 2. The agency sold $1 billion of six-month bills due Oct. 9, 2012 at a 0.159 percent rate, up from the 0.153 percent rate for its $1 billion six-month bills sold a week ago. Demand for the three-month bills was lower, with the bid-to-cover ratio at 4.12 versus 4.85 for three-month bills sold April 2, and demand for the six-month bills was also lower at 3.82 versus 4.95 for last week's sale of six-month bills. A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A lower ratio indicates weaker demand. Settlement is April 10.

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