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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (22752)12/2/2004 1:11:04 PM
From: ild  Read Replies (1) of 110194
 
NEW YORK (Dow Jones)--While other fixed-income markets fret about a possibly decline in interest from Asian investors, agency debt still appears to enjoy
strong support.

The proof comes with Freddie Mac (FRE)'s latest bond sale, a two-year reference note priced Thursday. Of the $3 billion offered, 40% was purchased by
Asian investors. That's the highest percentage ever registered for a five-year
issue by the federally chartered housing finance company.

Freddie hasn't sold five-year reference notes since June 2, when Asian investors purchased just 20% of the $3 billion issue.

The last time the agency issued reference notes of any maturity was Oct. 13, when it sold $4 billion of two-year paper. But Asian investors took up just 33%
of the total.

.....

Freddie's latest five-year issue was priced at 99.755 to yield 4.054%, or 30.5 basis points more than five-year Treasurys.
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