NEW YORK - Freddie Mac said its sale of $3 billion of bills on Tuesday brought mixed rates and drew stronger demand compared with the most recent sales of the same maturities.
Freddie Mac's $1 billion of one-month bills due June 22, 2009 were auctioned at a 0.130 percent rate, up from a 0.079 percent rate for a $1 billion one-month sale on April 27.
Its $1 billion of three-month bills due Aug. 24, 2009 were sold at 0.180 percent, unchanged from the $1 billion offering on May 18.
In addition, Freddie Mac auctioned $1 billion of six-month bills due Nov. 23, 2009 at a 0.299 percent rate, up from a 0.290 percent rate for $1 billion bills auctioned last week.
Demand for the one-month bills was stronger than last month, with a bid-to-cover ratio of 4.20 compared with 4.17 for the April 27 sale.
Demand for the three-month bills was stronger than last week, with a bid-to-cover ratio of 3.96 compared with 3.52 on May 18, while demand was also stronger for the six-month bills at 4.17 against 3.80 last week.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand.
Settlement for all bills is May 27. (Reporting by Caryn Trokie; Editing by James Dalgleish)