Bids for the three-month T-bills came to HUF 82.79 bln. The average yield was 0.06%, 5 basis points over the secondary market benchmark and 1 bp higher than the yield at the previous auction of the papers last week.
The ÁKK also sold a combined HUF 16 bln of bonds maturing in 2026, accepting bonds expiring in 2019 and 2020 as payment, at a switch auction on Wednesday.
The ÁKK sold HUF 5 bln of 2026/D bonds in exchange for 2019/A bonds, and HUF 11 bln in exchange for 2020/B bonds. It had offered to sell HUF 20 bln of the 2026/D bonds at each of the auctions.
Demand from primary dealers came to HUF 7.15 bln for the exchange with the 2019/A bonds, and HUF 17.65 bln for the 2020/B bonds exchange.
The 2019/A bonds sold at an average yield of 0.05% at the exchange, while the 2020/B bonds had an average yield of 0.29%. The average yield of the 2026/D bonds was 2.46%.
Of the closest secondary market benchmarks, the three-year benchmark calculated on 2021/C bonds was 0.73%, the five-year benchmark calculated on 2022/B bonds was 1.27%, and the ten-year benchmark calculated on 2027/A bonds was 2.52%.
