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ÁKK cuts offer at 3-month T-bill auction

The Government Debt Management Agency (ÁKK) sold HUF 9 billion of discount three-month T-bills at auction on Tuesday, cutting its original offer by HUF 6 bln on weak demand, according to a report by state news wire MTI.

Primary dealers bid for just HUF 14.9 bln of the securities.

The average yield was 0.32%, 3 bp under the secondary market benchmark but 1 bp over the yield at the previous auction of the bills one week earlier.