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ÁKK sells HUF 50 bln of three-month bills at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 50 bln of discount three-month T-bills at auction today, raising its original offer by HUF 10 bln, Hungarian news agency MTI reported.

Bids came to HUF 75.4 bln for the papers expiring on August 17. Demand was slightly up from HUF 72.8 bln at the previous auction held a week earlier. 

Average yield was 0.98%, unchanged from the previous auction of the bills while up 6bp from the secondary market benchmark calculated on a bill series expiring on September 28.

The debt manager has been selling three-month bills over the HUF 40 bln original plan every week since March 22 when the average yield rose to 1.27% before a renewed drop started.

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