The average three and five-year auction yields rose, while the 15-year yield dropped compared to the previous auction. The two shorter bonds were last auctioned two weeks earlier, while the 15-year bond was last sold on August 17. The auction yields were below the latest secondary market benchmarks.
The ÁKK sold HUF 21 bln of three-year bonds, raising its original offer by HUF 6 bln after almost fourfold demand. The average yield was 0.51%, 5 bps under the secondary market benchmark but 2 bps higher than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK sold HUF 22.5 bln of five-year bonds, raising its offer by HUF 7.5 bln after bids reached HUF 51 bln. The average yield was 1.22%, 4 bps below the benchmark but 2 bps higher than the yield two weeks earlier.
The ÁKK also sold HUF 10 bln of 15-year bonds, as planned. Bids came to HUF 18.1 bln. The average yield was 3.28%, 3 bps under the benchmark, and 38 bps under the average yield at the previous auction of 15-year bonds held on August 17.
In addition, the ÁKK sold a further HUF 4.9 bln of three-year bonds, HUF 3 bln of five-year bonds and HUF 2.2 bln of 15-year bonds at a non-competitive tender following the auction.
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