ÁKK sells less securities than planned on weak demand
The Government Debt Management Agency (ÁKK) sold just HUF 30 bln of securities at auction on Thursday, well under the planned HUF 55 bln as demand weakened.
ÁKK sold HUF 30 bln of discount twelve-month T-bills at auction on Thursday, cutting its original offer by HUF 10 bln on weak demand.
Primary dealers bid for just HUF 39.3 bln of the securities.
Average yield was 1.62%, 1 bp under the secondary market benchmark and level with the yield at the previous auction of the bills two weeks earlier. Yields ranged between 1.58% and 1.65%.
ÁKK had planned to sell HUF 15 bln of five-year floating-rate bonds but sold none after dealers bid for just HUF 7 bln.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.