The debt manager sold more than planned three- and ten-year bonds but cut its sales of five-year bonds which were only minimally oversubscribed. The three- and the ten-year yields fell to their lowest level since last November and the five-year yields was back at its level in the middle of December.
ÁKK sold HUF 22 bln of three-year bonds, HUF 2 bln more than planned. Dealers bid for HUF 37.8 bln of the papers. Subscription was healthy but halved from the previous auction. The average yield was 1.87%, 43 bps under the yield at the previous auction of the bonds two weeks earlier and 6 bps under the latest benchmark.
ÁKK sold HUF 16 bln of five-year bonds, HUF 4 bln less than planned. Bids came to HUF 20.8 bln, down from HUF 37.4 bln two weeks earlier. Average yield was 2.33%, 41 bps under the yield two weeks earlier and down 1 bps from the secondary market benchmark.
ÁKK sold HUF 15 bln of ten-year bonds, raising its offer by HUF 5 bln. Bids rose to HUF 25 bln from HUF 15.6 bln two weeks earlier. Average yield was 3.33%, 27 bps under the yield at the previous auction and 3 bps down from the benchmark.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
