ÁKK raises offer as demand remains high at three-month T-bill auction

Debt

The Government Debt Management Agency (ÁKK) raised its offer on continued strong demand at an auction of discount three-month T-bills today.

ÁKK sold HUF 70 bln of the bills expiring on October 1, raising its original offer by HUF 10 bln after primary dealers submitted bids for HUF 232.95 bln.

Demand rose further from HUF 198.9 bln at the previous auction held one week earlier at which ÁKK also raised its auction sale by HUF 10 bln to HUF 70 bln.

Average yield was 2.24%, 1bp under the secondary market benchmark, and 5 bp under the yield at the June 17 auction of the bills. Yields ranged between 2.20% and 2.25%.

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