ÁKK sells less than planned 5-year, more 10-year bonds at auction

Debt

The Government Debt Management Agency (ÁKK) cut its offer for 5-year bonds and raised it for the 10-year term, selling on the whole the originally announced HUF 43bn bonds at an auction on Thursday.

Oversubscription fell on every term. And, except for a sharp drop on the 10-year term, yields rose from two weeks earlier, but all dropped significantly from Wednesday's benchmarks.

ÁKK sold HUF 20bn of three-year bonds, the announced volume. Primary dealers submitted bids for HUF 39.6bn, well down from HUF 58.5bn for the same auction offer two weeks earlier.

Average yield for the 3-year bonds was 7.23%, 10bp under the secondary market benchmark, but 58bp over the yield at the previous auction two weeks earlier.

ÁKK sold HUF 11bn of five-year bonds, cutting the announced volume by HUF 4bn. Offers came to HUF 17.6bn, just half of the demand seen on September 22.

Average yield was 7.52%, 28bp under the secondary market benchmark but 27bp over the yield two weeks earlier.

ÁKK sold HUF 12bn of ten-year bonds, HUF 4bn more than planned. Offers came to 25.6bn, dropping only moderately from HUF 28.1bn at the previous auction.

Average yield was 7.94%, 6bp under the Wednesday secondary market benchmark and 20bp under the yield at the previous auction of the bonds four weeks earlier.

ADVERTISEMENT

Business confidence improves as consumer sentiment worsens Analysis

Business confidence improves as consumer sentiment worsens

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.