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ÁKK sells planned HUF 20 bln of three-month bills, yield drops

Hungary’s Government Debt Management Agency (ÁKK) sold HUF 20 bln of discount three-month T-bills at an auction today, in line with the original offer, Hungarian news agency MTI reported. Demand was high and yields fell.

Primary dealers bid for HUF 69.4 bln of the securities expiring on March 16, 2017. 

Average yield was 0.20%, 5 bps under both the secondary market benchmark, calculated on the same bill series, and the yield at the previous auction of the bills one week earlier.