ÁKK raises offers for all terms at bond auction
The Government Debt Management Agency (ÁKK) raised its offers for all three terms on strong demand at a bond auction, Hungarian news agency MTI reported today.
ÁKK sold HUF 27.0 bln of three-year bonds, raising its original offer by HUF 7 bln after primary dealers bid for HUF 46.7 bln of the papers. Average yield was 3.63%, 17bp under the secondary market benchmark but 61bp over the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 3.60% and 3.68%.
ÁKK sold HUF 30.0 bln of five-year bonds, HUF 10 bln more than planned. Bids came to HUF 95.1 bln. Average yield was 3.97%, 20bp under the benchmark but 66bp over the yield at the previous auction. Yields ranged between 3.95% and 3.99%.
ÁKK sold HUF 18.0 bln of ten-year bonds, HUF 6 bln more than the original offer. Bids reached HUF 51.8 bln. Average yield was 5.01%, 17bp under the benchmark but 81bp over the yield two weeks earlier. Yields ranged between 4.99% and 5.01%.
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