ÁKK sells planned three-month bills, yield up
Hungaryʼs 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. The average yield rose to minus 0.05%, after hitting a low at minus 0.07% a week earlier, state news wire MTI reported.
Primary dealers bid for HUF 37.6 billion of the papers, expiring on January 10, 2018.
The average yield was a negative 0.05%, 1 bp under the secondary market benchmark, calculated on a bill expiring on February 28, 2018, and 2 bps higher than the average yield at the previous auction of the securities one week earlier.
The average auction yield rose for the first time since August 1. The average three-month auction yield dipped below zero on September 5 and has been negative since then.
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