ÁKK sells less securities than planned on weak demand

Debt

The Government Debt Management Agency (ÁKK) sold just HUF 30 bln of securities at auction on Thursday, well under the planned HUF 55 bln as demand weakened.

ÁKK sold HUF 30 bln of discount twelve-month T-bills at auction on Thursday, cutting its original offer by HUF 10 bln on weak demand.

Primary dealers bid for just HUF 39.3 bln of the securities.

Average yield was 1.62%, 1 bp under the secondary market benchmark and level with the yield at the previous auction of the bills two weeks earlier. Yields ranged between 1.58% and 1.65%.

ÁKK had planned to sell HUF 15 bln of five-year floating-rate bonds but sold none after dealers bid for just HUF 7 bln.

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