ADVERTISEMENT

ÁKK sells planned volume of bonds despite high demand, yields drop

Debt

pixabay

Hungaryʼ sGovernment Debt Management Agency (ÁKK) sold the announced HUF 45 billion of bonds at auction today despite strong oversubsciption, Hungarian news agency MTI reported.

Yields dropped as a result both compared to the previous auction and Wednesdayʼs secondary market benchmarks. 

The three-year average auction yield dropped to a new all-time low, and yields dropped for the first time since the end of September or early October. 

ÁKK sold HUF 20 bln of three-year bonds, as planned. Primary dealers bid for HUF 85.0 bln of the papers. Average yield was 1.03%, 9 bps under the secondary market benchmark and 19 bps under the yield at the previous auction of the bonds two weeks earlier. 

ÁKK sold HUF 15 bln of five-year bonds, in line with the original offer. Bids came to HUF 83.3 bln. Average yield was 1.94%, 9 bps under the benchmark and 24 bps under the yield two weeks earlier. 

ÁKK sold HUF 10 bln of ten-year bonds, also in line with the original offer. Bids reached HUF 66.7 bln. Average yield was 3.30%, 11 bps under the secondary market benchmark and 21 bps under the yield at the previous auction of the bonds.

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Transformation Delineation - Microsoft country general manag... Podcasts

Transformation Delineation - Microsoft country general manag...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

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.