NEW YORK, March 15 (Reuters) - Freddie Mac on Monday said it sold $3.0 billion of bills at higher rates than at the most recent sales of the same maturities, while demand was weaker.
Freddie Mac said it sold $1.5 billion of three-month bills due June 14, 2010 at a 0.180 percent rate, up from 0.164 percent, for its $1.5 billion bills auctioned on March 8.
It also sold $1.5 billion of six-month bills Sept. 13, 2010 at a 0.254 percent rate, up from 0.238 percent for its $1.5 billion of six-month bills sold a week ago.
Demand for the three-month bills was weaker than last week, with a bid-to-cover ratio of 3.78 compared with 4.12 on March 8, while demand was also weaker for the six-month bills at 3.15 versus 3.72 last week.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A lower ratio indicates weaker demand.
Settlement for all bills is March 16.
(Reporting by Caryn Trokie, Editing by Chizu Nomiyama) Keywords: FREDDIEMAC BILLS/SALE (caryn.trokie@thomsonreuters.com ; + 1 646-223-6318; Reuters Messaging: caryn.trokie.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Freddie Mac said it sold $1.5 billion of three-month bills due June 14, 2010 at a 0.180 percent rate, up from 0.164 percent, for its $1.5 billion bills auctioned on March 8.
It also sold $1.5 billion of six-month bills Sept. 13, 2010 at a 0.254 percent rate, up from 0.238 percent for its $1.5 billion of six-month bills sold a week ago.
Demand for the three-month bills was weaker than last week, with a bid-to-cover ratio of 3.78 compared with 4.12 on March 8, while demand was also weaker for the six-month bills at 3.15 versus 3.72 last week.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A lower ratio indicates weaker demand.
Settlement for all bills is March 16.
(Reporting by Caryn Trokie, Editing by Chizu Nomiyama) Keywords: FREDDIEMAC BILLS/SALE (caryn.trokie@thomsonreuters.com ; + 1 646-223-6318; Reuters Messaging: caryn.trokie.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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