The ÁKK sold HUF 40 bln of discount six-week “liquidity” T-bills. Primary dealers bid for HUF 68.6 bln of the papers. The average yield was 0.02%, 2 basis points over the yield at the previous successful auction of the bills early in December.
The ÁKK also sold HUF 40 bln of discount three-month T-bills. Bids came to HUF 55.6 bln. The average yield was 0.02%, 3 bps over the secondary market benchmark and 5 bps higher than the yield at the previous successful auction of the bills three weeks earlier.
Earlier over the Christmas period, on December 28, the ÁKK sold HUF 32 bln of discount twelve-month T-bills at auction, cutting its sale by HUF 8 bln as demand only slightly exceeded the HUF 40 bln original offer. Despite the reduced sale, yields rose back into positive territory.
Primary dealers bid for HUF 43.3 bln of the papers, which expire on December 27, 2018. The average yield was 0.04%, 4 bps over the secondary market benchmark and a similar 4 bps over the yield at the previous auction of the bills two weeks earlier.
The ÁKK had raised the volume on offer after cutting it, first to HUF 30 bln at the November 30 auction, then to HUF 20 bln at the previous auction held two weeks earlier.
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