ÁKK sells planned volume of three-month bills, yields rise
The Government Debt Management Agency (ÁKK) sold the planned HUF 40 bln of discount three-month T-bills at auction on today, demand remained subdued and yields rose further, Hungarian news agency MTI reported.
Primary dealers bid for HUF 45.3 bln of the papers expiring on June 22. The auction was the fourth one in a row with moderate oversubscription. At the previous auction on March 8 ÁKK cut its sales compared to plans.
Average yield was 1.26%, 21 bps over the secondary market benchmark, calculated on a bill expiring on August 3, and 14 bps over the yield at the previous auction.
Auction yields rose now for the third auction.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.