ÁKK cuts T-bill offer, raises sale of floaters
The Government Debt Management Agency (ÁKK) cut its offer for discount twelve-month T-bills but raised it for floating-rate bonds that mature in 2018 at auctions today.
ÁKK sold HUF 33 bln of the twelve-month bills, reducing its original offer from HUF 60 bln after primary dealers bid for just HUF 56.1 bln of the papers. Average yield was 1.79%, 1 bp over the secondary market benchmark and 3 bp higher than the yield at the previous auction of the bills one week earlier. Yields ranged between 1.67% and 1.85%.
ÁKK sold HUF 30 bln of the floating-rate bonds, HUF 10 bln more than planned. Dealers bid for HUF 69.3 bln of the securities.
The forint weakened sharply against the Swiss franc around the time of the auction because of an announcement by the Swiss National Bank that it was scrapping its minimum exchange rate against the euro.
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