Freddie Mac, the troubled US mortgage financier, yesterday easily sold $2bn of short-term debt, helping to reassure stock markets that Freddie and rival Fannie Mae still have access to fund their operations without a government rescue.

Shares in Freddie rose by more than 12 per cent and Fannie was 4 per cent higher in morning trade, halting last week's dramatic sell-off for the two companies even as broader stock markets were lower yesterday.