Three-month bill sale below plan, yields rise
The Government Debt Management Agency (ÁKK) sold HUF 35 bln of discount three-month T-bills at auction today, cutting its original offer by HUF 5 bln on limited oversubscription. Auction yields rose after dropping in the previous two weeks.
Dealers bid HUF 45.5 bln for the papers which expire on May 4. Demand halved from the previous auction one week earlier.
Average yield was 0.98%, 8 bps over the secondary market benchmark, calculated on a bill expiring on June 8, and 5 bps over the yield at the January 19 auction.
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.