ÁKK bond sales exceed plan on strong demand
The Government Debt Management Agency (ÁKK) sold a total of HUF 80.5 billion of bonds at auction on Thursday, raising its original offer by HUF 15.5 bln on strong demand from primary dealers, state news wire MTI reported.
The ÁKK sold HUF 25.5 bln of three-year bonds, HUF 5.5 bln more than planned. Bids came to HUF 34.0 bln, and the average yield was 1.39%, 2 basis points over both the secondary market benchmark and the yield at the previous auction of the bonds two weeks earlier.
The ÁKK also sold HUF 32.0 bln of five-year bonds, HUF 7.0 bln over the original offer, after bids reached HUF 50.7 bln. The average yield was 2.14%, 3 bps over the benchmark and 5 bps higher than the yield at the auction two weeks earlier.
Finally, the ÁKK sold HUF 23.0 bln of ten-year bonds, HUF 3.0 bln over plan, after dealers bid HUF 33.1 bln. The average yield was 3.23%, 4 bps over the benchmark and 41 bps higher than the yield at the previous ten-year bond auction four weeks earlier.
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