The ÁKK sold HUF 8 bln of 2024/B bonds for 2020/A bonds, HUF 12 bln less than it originally offered, after bids reached only HUF 15.9 bln. The five-year bonds sold at an average yield of 2.75% at the switch auction.
The ÁKK also sold HUF 6.5 bln of 2026/D bonds for 2020/A bonds, down from its original offer of HUF 20 bln. Demand from primary dealers came to HUF 13.1 bln for the exchange. The bonds sold at an average yield of 3.48%.
The ÁKK accepted the 2020/A bonds as payment at a fixed yield of 1.22%.
Demand for 2026 bonds dropped and yields rose from the previous switch auction on August 22, when the ÁKK sold HUF 20 bln of the bonds at an average 3.27% yield. It also sold HUF 19 bln of 2028 bonds at an average yield of 3.40% on August 22.
The debt manager last sold 2024/B bonds at a switch auction on June 27 at an average yield of 2.72%.
Of the closest secondary market benchmarks, the five-year benchmark calculated on 2024/C bonds was 2.89%, while the ten-year benchmark calculated on 2027/A bonds was 3.50% on Tuesday.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
