ÁKK sells announced volume at dropping yields at 3-month auction
The Government Debt Management Agency (ÁKK) sold the announced HUF 45 billion of discount three-month T-bills at an auction on Tuesday.
Demand at the weekly auctions fell after exceeding HUF 100 billion at the previous, August 28 auction for the first time since the middle of July. The average yield fell from the previous auction and was also under Monday's benchmark.
ÁKK received HUF 87.9 billion bids for the bills expiring on December 12, of which it accepted HUF 45 billion, the announced volume. Subscription was down from HUF 104.3 billion at the previous auction a week earlier where AKK also sold the announced HUF 45 billion of the bills.
Average yield was 6.68%, 3 basis point under the secondary market benchmark, calculated on the same bill series, and 16bp under the yield at the previous auction of the bills one week earlier. Yields ranged between 6.60% and 6.75%.
ADVERTISEMENT
POPIHN Raises Forecast for Fuel Consumption
Hungarian Lawmakers Ratify Finland's NATO Accession
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
