ÁKK sells more than planned bonds at dropping yields at auction
The Government Debt Management Agency (ÁKK) sold HUF 64 bln of bonds at auction on Thursday, raising its original offer by HUF 14 bln on strong demand by primary dealers. Yields fell over the board.
ÁKK sold HUF 27 bln of three-year bonds, HUF 7 bln more than planned. Bids came to HUF 73. bln, somewhat under the HUF 86.32 bln bids at the previous auction on March 9.
Average yield was 1.70%, 7 bps under Wednesdayʼs three-year secondary market benchmark and 15 bps under the yield at the previous auction.
ÁKK sold HUF 22 bln of five-year bonds, raising its original offer by HUF 2 bln after dealers bid for HUF 44.6 bln, slightly less than on March 9.
Average yield was 2.14%, 10 bps under the secondary benchmark and 20 bps under the yield at the previous auction.
ÁKK sold HUF 15 bln of ten-year bonds, HUF 5 bln over the plan. Bids reached HUF 34.6 bln, slightly rising from the March 9 auction.
Average yield was 3.08%, 8 bps under the benchmark and 21 bps lower than the yield at the previous ten-year bond auction.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.