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Retail govʼt securities sales down slightly in October

Telco

Net sales of forint-denominated government securities targeted at retail investors came to HUF 151.3 billion in October, slightly down from September, a monthly report released by the Government Debt Management Agency (ÁKK) on Monday showed, as reported by state news wire MTI.   

Premium Hungarian Government Securities (PMÁPs) continued to be the most popular with investors, with net sales of HUF 76.9 bln in October.  PMÁPs are three or five-year bonds offering 3.5%-3.88% interest, depending on the tenor, the ÁKK noted.

The 1-Year Government Securities (1MÁPs) followed with net sales of HUF 47.7 bln, while sales of 2-Year Government Securities  (2MÁPs) totaled HUF 16.5 bln.  1MÁPs, with annual interest of 2%, are popular with small investors. 

The stock of Bonus Hungarian Government Securities (BMÁPs) was unchanged last month, while net sales of Baby Bonds came to HUF 700 million.

Net sales of Treasury Savings Bills (KTJs) reached HUF 2.9 bln, while sales of Half-Year Government Securities (FMÁPs) amounted to HUF 6.6 bln last month. 

Meanwhile, the stock of Premium Euro Hungarian Government Securities (P€MÁPs), which are denominated in euros, rose by just EUR 4 mln in October.

In the first ten months of 2017

Net sales of government securities totaled HUF 1,598.2 bln in January-October 2017, bringing the total stock to HUF 6,665.0 bln at the end of the period. Net sales were double the full-year target already in January-September, with the excess issues financing maturing FX debt.

In January-October, the stock of PMÁPs climbed HUF 815.5 bln to HUF 1,858.5 bln.  The stock of 1MÁPs jumped HUF 533.9 bln to HUF 3,170.6 bln during the period, while the stock of 2MÁPs, which were only recently introduced, reached HUF 333.9 bln.

The BMÁP stock edged up just HUF 1.4 bln in the first ten months to HUF 479.6 bln, while the Baby Bond stock increased by HUF 2.6 bln to HUF 35 bln. 

The KTJ stock rose HUF 8.5 bln to HUF 462.2 bln, while the stock of FMÁPs dropped HUF 3.8 bln to HUF 325.1 bln in the year to the end of October.

The stock of P€MÁPs slipped EUR 300 mln in the first ten months of the year to EUR 400 mln.

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