ÁKK sells planned volume of three-month T-bills, yields flat

Debt

The Government Debt Management Agency (ÁKK) sold the announced HUF 50 bln of discount three-month T-bills at auction today, Hungarian news agency MTI reported. The average yield remained unchanged now for the third auction in a row.

Primary dealers bid for HUF 72.1 bln of the papers which expire on December 30.

At the previous auction on September 16 ÁKK raised its sale by HUF 10 bln to HUF 60 bln after receiving bids for HUF 86.1 bln.

Average yield was 1.38%, up 3bp from the secondary market benchmark, calculated on a bill expiring three weeks later, and unchanged from the yield at the two previous auctions. The range of accepted yields moved slightly up, to between 1.35% and 1.41%.

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