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ÁKK sells planned volume of three-month bills, yields rise

Debt

The Government Debt Management Agency (ÁKK) sold the planned HUF 40 bln of discount three-month T-bills at auction on today, demand remained subdued and yields rose further, Hungarian news agency MTI reported.

Primary dealers bid for HUF 45.3 bln of the papers expiring on June 22. The auction was the fourth one in a row with moderate oversubscription. At the previous auction on March 8 ÁKK cut its sales compared to plans.

Average yield was 1.26%, 21 bps over the secondary market benchmark, calculated on a bill expiring on August 3, and 14 bps over the yield at the previous auction.

Auction yields rose now for the third auction.

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