Freddie Mac-No Politics (FMCC)

[Phisherman]

Freddie sells bills at higher rates, bids steady-up
09/22 10:14 AM

NEW YORK, Sept 22 (Reuters) - Freddie Mac's (FRE:$0.7674,$0.2174,39.53%) $2 billion 2-part bill sale on Monday was sold at higher interest rates compared with the last week's sales of the same maturities, with demand steady to higher.
Freddie Mac (FRE:$0.7674,$0.2174,39.53%) sold $1 billion of three-month bills due Dec. 22, 2008 at a 2.450 percent rate, compared with a 2.100 percent rate for $1 billion of the same maturity bills sold on Sept. 15.
Demand was little changed from the $1 billion auction of the same maturity a week ago based on this week's bid-to-cover ratio of 2.92 compared with 2.98 a week ago.
Freddie Mac (FRE:$0.7674,$0.2174,39.53%) also sold $1 billion of six-month bills due March 23, 2009 at a 2.810 percent rate, versus a 2.350 percent rate for $2 billion sale of the same maturity last week.
Demand rose for this week's the six-month bills was higher than a week ago, with a bid-to-cover ratio of 2.10 versus 1.64 for last week's sale. (Reporting by Pam Niimi; Editing by Theodore d'Afflisio)