ÁKK sells HUF 15 bln of three-month T-bills, as planned

Debt

The Government Debt Management Agency (ÁKK) sold HUF 15 billion of discount three-month T-bills at auction on Tuesday, in line with the original offer, state news wire MTI reported.

Primary dealers bid for HUF 33.9 bln of the securities, which mature on September 27. 

The average yield was 0.03%, 2 bps down from the secondary market benchmark calculated on a bill series expiring on October 25, and also 2 bps down from the yield at the previous auction of the bills one week earlier.   

The ÁKK reduced its per-auction offer from the HUF 20 bln it had been offering since the end of January. Demand fell by HUF 14 bln from the previous auction. The average yield fell for the first time since May 16, when it hit a low at 0.01%.

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