ÁKK sells HUF 25 bln of three-month T-bills, yield rises
The Government Debt Management Agency (ÁKK) sold the originally offered HUF 25 billion of discount three-month T-bills at auction on Tuesday. Oversubscription was moderate and yields rose, but still stayed below zero.
The ÁKK offered HUF 25 bln of three-month bills for the auction, raising the amount on offer from the HUF 15 bln it has been offering since June 13. The ÁKK accepted oversubscription for the first time at the previous auction on October 19.
Primary dealers bid for HUF 29.4 bln of the securities expiring on January 31. The average yield was negative 0.01%, 3 bps over the secondary market benchmark and 4 bps over the yield at the previous auction of the bills one week earlier.
The average three-month auction yield rose closest to zero since it dipped into negative territory on September 5.
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.