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ÁKK sells planned 12-month T-bills at auction, yields rise

The Government Debt Management Agency (ÁKK) sold HUF 20 billion of 12-month discount T-bills at auction on Thursday, as planned, Hungarian news agency MTI reported. Demand rose from two weeks earlier while yields also rose.

Bids for the papers, expiring on April 11, 2018, came to HUF 42.6 bln, up from HUF 36 bln at the previous auction held on April 6.

The average yield was 0.14%, 6 bps over the secondary market benchmark, calculated on a bill expiring on February 28, 2018, and 2 bps up on the yield at the previous auction.