ÁKK cuts offer at twelve-month T-bill auction

Debt

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Hungary’s Government Debt Management Agency (ÁKK) sold HUF 24.0 bln of discount twelve-month T- bills at auction today, cutting its original offer by HUF 6 bln on low demand, Hungarian news agency MTI reported.

Primary dealers bid for just HUF 36.8 bln of the securities. 

Average yield was 0.96%, 3 bps under the secondary market benchmark and 7 bps lower than the yield at the previous auction of the bills two weeks earlier.

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