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Tuesday, September 16, 2008 1:17:42 AM
NEW YORK, Sept 15 (Reuters) - Freddie Mac's $4 billion three-part bill sale
on Monday drew mixed demand and interest rates compared with the most recent
sales of the same maturities.
Demand for the three- and six-month bills fell from auctions of the same
maturities a week ago. Demand rose for the 12-month bills compared with the most
recent sale of this maturity a month ago, which was prior to the government's
takeover of the company.
Freddie Mac sold $1 billion of three-month bills due Dec. 15, 2008 at a
2.100 percent rate, the same rate for $1 billion of the same maturity bills sold
on Sept. 8.
Freddie Mac sold $2 billion of six-month bills due March 16, 2009 at a
2.350 percent rate, also the same rate as the $1 billion sale of the same
maturity last week.
The $1 billion 12-month bills sold at a 2.650 percent rate, compared with
a 2.940 rate in the 12-month sale in Aug. 18.
Demand for the three-month bills was lower than a week earlier, based on
a bid-to-cover ratio of 2.98 compared with 4.03.
Demand for the six-month bills was also lower than a week earlier, based
on a bid-to-cover ratio of 1.64 compared with 3.70.
Demand for the 12-month bills was higher than in the August sale, based
on a bid-to-cover ratio of 2.16 compared with 1.75.
(Reporting by Rodrigo Campos; Editing by James Dalgleish)
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