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ÁKK cuts offer on weak demand at 3-month T-bill auction

The Government Debt Management Agency (ÁKK) sold HUF 6.5 billion of discount 3-month T-bills at auction on Tuesday, cutting its original HUF 15 billion offer because of weak demand, state news wire MTI reports.

Primary dealers bid for just HUF 14.6 bln of the securities.

The average yield was 0.46%, 1 bp under the secondary market benchmark but 14 bp over the yield at the previous auction of the bills one week earlier.