NEW YORK (AP) -- Freddie Mac attracted more bidders Monday for a highly anticipated auction of $3 billion in short-term securities than it had nearly all year, a day after the federal government provided support for the mortgage giant."This was a good auction result," said independent banking consultant Bert Ely.
There had been fears all weekend about investors shying away from participating in the auction until the government stepped in and pledged to support the struggling mortgage financier.
"With this deal, it shows confidence on the debt side," Friedman, Billings, Ramsey & Co. analyst Paul Miller said. "It provides confidence the company is not going out of business."
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