ÁKK sells planned three-month T-bills, yield slightly drops
Hungary’s Government Debt Management Agency (ÁKK) sold HUF 20 bln of discount three-month T-bills at auction today, in line with the original offer, Hungarian news agency MTI reported today.
Subscription was three-fold and yields dropped slightly further. Primary dealers bid for HUF 68.3 bln of the papers expiring on November 23.
Average yield was 0.41%, 4 bps under the secondary market benchmark, calculated on a bill series expiring on December 28, and 1 bps lower than the yield at the previous auction of the bills one week earlier.
ÁKK reduced its usual offer at the weekly three-month T-bill auction from HUF 40 bln to HUF 30 bln on July 26, and then to HUF 20 bln on August 2. ÁKK has shifted from net issues to net redemptions of the bills, in line with its three-month issue plans.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.