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ÁKK sells a little less than half of plan at 3-month T-bill auction

The Government Debt Management (ÁKK) sold HUF 14.5 billion of discount three-month T-bills at auction on Tuesday, cutting its original HUF 30 billion offer by a little more than half because of poor demand, state news wire MTI reports.

Primary dealers bid for HUF 19.1 bln of the securities.

The average yield was 1.14%, 1 bp over the secondary market benchmark which matures about one month later and 8 bp higher than the yield at the previous auction of the bills one week earlier.