ÁKK sells announced volume at 3-month auction

Debt

The Government Debt Management Agency (ÁKK) sold the announced volume of discount three-month T-bills at an auction on Tuesday. Oversubscription remained moderate, and yields fell slightly from the previous auction but were over Monday's benchmark.

ÁKK received HUF 71.1 billion bids for the bills expiring on November 28, of which it accepted HUF 45 billion, the announced volume. Subscriptions only moderately rose from HUF 64.1 billion at the previous auction a week earlier where ÁKK sold the announced HUF 45 billion of the bills.

Average yield was 6.85%, 3 basis point over the secondary market benchmark, calculated on a bill series expiring on December 12, and 2bp under the yield at the previous auction of the bills one week earlier. Yields ranged between 6.82% and 6.89%.

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