ÁKK cuts offer at three-month T-bill auction in spite of strong demand

Debt

The Government Debt Management Agency (ÁKK) sold HUF 12 bln of discount three-month T-bills at auction on Tuesday, HUF 3 bln less than planned.

ÁKK cut its original offer even though primary dealers bid for HUF 72.0 bln of the papers.

Average yield was 0.78%, 3% over the secondary market benchmark and 6% higher than the yield at the previous auction of the bills one week earlier.

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