Fannie Mae Sells $3 Billion U.S. in Notes

Toronto Star (07/24/08)
Fannie Mae's weekly auction resulted in the sale of $3 billion worth of short-term notes. According to Stone & McCarthy Research Associates, the $2 billion in three-month notes sold at a 2.62-percent yield equates to a spread of 101 basis points more than U.S. Treasuries and 16 basis points under the three-month London interbank offered rate (Libor). Meanwhile, the $1 billion worth of six-month notes sold at a 2.82-percent yield exceeded Treasurys by 88 basis points and fell under Libor by 31 basis points.