Primary dealers submitted bids for HUF 149.7 billion of the discount T-bills which expire on March 30. Demand more than doubled from HUF 69.5 billion at the previous liquidity bill auction on February 14 when AKK sold the announced HUF 50 billion bills.
Average yield at the auction was 6.01%, down 2bp from the yield at the previous auction of the same bills one week earlier, and 11bp over the closest three-month secondary market benchmark, calculated for bills expiring two months later.
Accepted yields ranged between 5.99% and 6.03% as the range narrowed from between 5.97% and 6.05% one week earlier.
AKK invites liquidity bill auctions on a case by case basis, depending on the budget’s liquidity needs. The auction was the fourth liqudity bill auction since the start of this year.
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