ÁKK sells HUF 20 bln of 3-month bills, yield rises

Debt

The Government Debt Management Agency (ÁKK) sold HUF 20 billion of discount three-month T-bills at auction today, in line with the original offer, Hungarian news agency MTI reported.

Primary dealers bid for HUF 39.8 bln of the papers that expire on August 30. Demand fell from HUF 64.5 bln a week earlier.

The average yield was 0.03%, 4 bps under the secondary market benchmark, which matures on September 13, but 2 bps higher than the yield at the previous auction of the bills one week earlier.

The average yield rose after falling back to 0.01%, the bottom it reached at the March 14 and March 21 auctions, on May 16.

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