ÁKK raises sale of three-month bills at auction
The Government Debt Management Agency (ÁKK) sold HUF 50 bln of discount three-month T-bills at auction today, raising its original offer by HUF 10 bln on continued strong demand by primary dealers, Hungarian news agency MTI reported.
Yields dropped from the previous auction but were over the secondary market benchmark. Bids came to HUF 91.9 bln.
Demand has been high and ÁKK has sold more bills than planned for the third auction in a row.
Average yield of the papers expiring on July 13 was 1.09%, 9 bps over the secondary market benchmark, calculated on a bill expiring three weeks later, and 1 bps lower than the yield at the previous auction of the bills one week earlier.
Yields fell after peaking at 1.27% on March 30.
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