ÁKK cuts sale at three-month bill auction, yield rises
The Government Debt Management Agency (ÁKK) sold HUF 35 bln of discount three-month T-bills at auction on Tuesday, HUF 5 bln less than planned as demand remained weak, while yields rose, Hungarian news agency MTI reported today.
Primary dealers bid for HUF 42.8 bln of the papers expiring on June 8. Oversubscription fell slightly further from HUF 45.4 bln at the previous auction held on February 23.
Average yield was 1.12%, 18 bps over the secondary market benchmark, calculated on the same series, and 6 bps over the yield at the previous auction.
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