ÁKK raises offer at three-month T-bill auction

Debt

The Government Debt Management Agency (ÁKK) raised its offer on strong demand at an auction of discount three-month T-bills, Hungarian news agency MTI reported today.

ÁKK sold HUF 50 bln of the bills, raising its original offer by HUF 10 bln after primary dealers bid for HUF 95.4 bln of the papers.

Average yield was 1.47%, 18bp under the secondary market benchmark and 14bp lower than the yield at the previous auction of the bills one week earlier. Yields ranged between 1.45% and 1.50%.

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