ÁKK buys back bonds early at reverse auction
The Government Debt Management Agency (ÁKK) bought back a combined HUF 53.72 billion of bonds expiring in 2018 and 2019 before maturity at a reverse auction on Wednesday, state news agency MTI reported.
The ÁKK bought back HUF 7.10 bln of 2018/A bonds, which mature on December 20, 2018, accepting all the bids. The average repurchase yield was 0.01%.
The ÁKK also bought back HUF 8.47 bln of 2019/A bonds maturing on June 24, 2019, accepting all the bids. The average repurchase yield was 0.01%.
Finally, the ÁKK bought back HUF 38.15 bln of 2019/D bonds maturing on August 28, 2019, accepting all the bids. The average repurchase yield was 0.00%.
The repurchase yields compare to a 12-month secondary market benchmark of 0.00% and a three-year benchmark of minus 0.03%.
The ÁKK had planned to buy back HUF 5 bln of all three papers.
No bids at T-bill auction
Earlier in the week, the ÁKK accepted no bids at an auction of three-month T-bills.
The agency had planned to sell HUF 30 bln of discount three-month T-bills at auction on Tuesday, but did not accept any bids and cancelled the event.
Primary dealers bid for HUF 49.9 bln of the securities.
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