Hungary’s Government Debt Management Agency (ÁKK) sold HUF 52 billion bonds instead of a planned HUF 43 billion at a bond auction on Thursday, selling more than planned five- and 15-year bonds on strong demand. Yields fell over the board both compared to the previous auction of the bonds and to the respective benchmarks. ÁKK auctioned 15-year bonds for the first time since the end of August when it sold half of the planned amount on poor demand. ÁKK sold HUF 12 billion of the 15-year bonds, raising its original offer by HUF 4 billion after primary dealers submitted bids for HUF 36.4 billion. Average yield for the 15-year bonds was 6.31c, 11bp under the secondary market benchmark. The bond sold at a 7.34% average yield when it was last auctioned on August 23. Auction yields were in a tight range between 6.30% and 6.32% on Thursday.
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.
