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ÁKK sells planned volume of 3-month T-bills at auction

Hungaryʼs Government Debt Management Agency (ÁKK) sold the planned HUF 30 bln of three-month discount T-bills at auction today, according to Hungarian news agency MTI. 

Yields dropped slightly from the previous auction held one week earlier, but remained well over the secondary market. Primary dealers bid for HUF 69.5 bln of the securities, which expire on April 19.

The average yield was 0.14%, 8 bp over the secondary market benchmark, calculated on a bill expiring five weeks later, but down one basis point from the yield at the three-month bill auction on January 3.