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ÁKK sells planned HUF 30 bln of 3-month bills, yield rises

The Government Debt Management Agency (ÁKK) sold HUF 30 billion of discount three-month T-bills at auction on Tuesday, in line with the original offer. Yields rose, according to state news wire MTI.

Primary dealers bid for HUF 76.9 bln of the securities which expire on May 13.

The average yield was 0.1%, 7 bp over the secondary market benchmark calculated on a bill expiring on June 24, and 5 bp over the average yield at the previous auction of the bills one week earlier. 

The average three-month auction yield was the highest since late July. The yields became negative last October and shifted into positive territory at the first auction of 2020.