ÁKK sells HUF 50 bln of three-month bills as demand jumps

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 50 bln of discount three-month T-bills at auction today, raising its original offer by HUF 10 billion on unusually strong demand, Hungarian news agency MTI said.

Primary dealers bid for HUF 145.2 bln of the papers maturing on July 27. Bids jumped from an already high HUF 90.8 bln one week earlier when the ÁKK also raised its sales to HUF 50 bln. 

Average yield was 1.02%, 7 bps over the secondary market benchmark calculated on a series expiring on August 3, but down 7bp from the yield at the previous auction of the securities one week earlier.

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