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ÁKK raises offers for all terms at bond auction

Debt

The Government Debt Management Agency (ÁKK) raised its original offers for all three terms on strong demand at a bond auction today.

ÁKK sold HUF 25 bln of three-year bonds, raising its original offer by HUF 5 bln after primary dealers submitted bids for HUF 49.7 bln. Average yield was 2.99%, 6bp under the secondary market benchmark as well as the yield at the previous bond auction two weeks earlier. Yields ranged between 2.98% and 3.00%.

ÁKK sold HUF 33.5 bln of five-year bonds, HUF 8.5 bln more than planned. Bids came to HUF 72.9 bln. Average yield was 3.23%, 7bp under the benchmark and 15bp lower than the yield two weeks earlier. Yields ranged between 3.18% and 3.25%.

Sales of the ten-year bond came to HUF 20 bln, HUF 5 bln more than planned. Bids reached HUF 36.4 bln. Average yield was 4.23%, 5bp under the benchmark and 15bp lower than the yield at the previous auction. Yields ranged between 4.16% and 4.26%.

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