ÁKK cuts three-month T-bill auction sale

Debt

The Government Debt Management Agency (ÁKK) sold HUF 35 bln of discount three-month T-bills at an auction on Tuesday, cutting its original offer by HUF 15 bln after the offer was slightly undersubscribed.

The auction was the first undersubscribed three-month auction since last October.

Primary dealers bid for HUF 49.9 bln of the securities expiring on June 24.

Average yield was 1.63%, unchanged from the previous auction and 2bp over the secondary market benchmark, calculated on a bill expiring four weeks later. Yields ranged between 1.55% and 1.66%.

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