Are you sure?

ÁKK sells less-than-planned one-year bills, planned floaters at auction

The Government Debt Management Agency (ÁKK) sold a combined HUF 40 bln of twelve-months discount T-bills and five-year floaters at auction on Thursday, HUF 5 bln below its original offer, cutting its sale of the twelve-month bills.

ÁKK sold HUF 35 bln of discount twelve-month T-bills that expire on March 16, 2017, HUF 5 bln less than planned. Primary dealers bid for HUF 49.3 bln of the papers, more than HUF 30 bln less than at the bills previous auction two weeks earlier. 

Average twelve-month auction yield dropped was 0.99%, down 8 bps from the previous action and up 2 bps from Tuesdayʼs secondary market benchmark of the same bills. 

ÁKK also sold HUF 5 bln of five-year floating-rate bonds. Dealers bid for HUF 8.75 bln of the securities.