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ÁKK sells HUF 60 bln of bonds at auction, slightly more than planned

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 60 bln of bonds at an auction on Thursday, slightly more than the announced amount. ÁKK raised its offer for the shortest term and cut sales for the longest term.

ÁKK sold HUF 25 bln of the three-year bonds, raising its original offer by HUF 5 bln after primary dealers bid for HUF 37.5 bln of the securities. Average yield was 2.25%, 5 bp over the secondary market benchmark but 29 bp under the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 2.21% and 2.26%.

ÁKK sold HUF 20 bln of five-year bonds, as planned. Bids came to HUF 28.4 bln. Average yield was 2.62%, 6 bp over the benchmark but 34 bp under the yield two weeks earlier. Yields ranged between 2.57% and 2.65%.

Sales of the ten-year bond were cut by HUF 3 bln to HUF 15 bln. Dealers bid for HUF 18.6 bln of the papers. Average yield was 3.15%, 5 bp over the benchmark but 27% under the yield at the previous auction. Yields ranged between 3.13% and 3.17%.

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