Fannie Mae-No Politics (FNMA)

[Phisherman]

Fannie, Freddie Jump 30% After Sale of $2 Billion in Bills
09/24 10:33 AM Eastern Daylight Time, 09/24/2008 (MidnightTrader) -- Fannie Mae (FNM:$1.7799,$0.4699,35.87%) and Freddie Mac (FRE:$1.8300,$0.5100,38.64%) are up more than 30% each in early trading after Fannie sold sold $2 billion in bills, although at higher interest rates compared with sales of the same maturities a week ago.
Fannie Mae (FNM:$1.7799,$0.4699,35.87%) said it sold $1 billion of three-month benchmark bills due Dec. 24, 2008 at a stop-out rate, or lowest accepted rate, of 2.950% and $1 billion of six-month bills due March 25, 2009 at a 3.4% stop-out rate.
The three-month bills were priced at 99.254 and have a money market yield of 2.972%, while the six-month bills were priced at 98.281 and have a money market yield of 3.459%, according to Fannie Mae (FNM:$1.7799,$0.4699,35.87%) .
Freddie Mac (FRE:$1.8300,$0.5100,38.64%) is up 35.6% at $1.79.
Price: 1.77, Change: +0.47, Percent Change: +35.88
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