Agency spreads stay the same; Freddie Mac to add to supply

By Lisa Kerner

Charlotte, N.C., June 15 - Agency spreads were "almost unchanged" on what one trader called a "horrible Monday."

The trader couldn't attribute the "quiet" day to anything in particular, saying it could be "just a summer doldrums Monday kind of a thing."

He did say that Freddie Mac was expected to add to supply this week with an expected five-year Reference Note issue to be announced on Tuesday.

Freddie Mac also announced on Monday that it will conduct cash tender offers all week for the purchase of a targeted group of its euro Reference Notes securities.

The offers will end on June 19, according to the agency.

Designated lead manager for the tender is Goldman Sachs International. Designated dealer managers are Barclays Bank plc and Deutsche Bank AG, London Branch.

The securities range in maturity from September 2010 to January 2014, said Freddie Mac.

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