Big demand, sharp yield rise at three-month T-bill auction
Demand was high at almost three times of the offer but yields jumped at an auction of discount three-month T-bills by the Government Debt Management Agency (ÁKK) on Tuesday.
ÁKK sold the announced HUF 40bn of the bills expiring on February 22, 2012. Primary dealers bid for HUF 113.8bn, only little less than the HUF 116.2bn bids submitted at the previous auction.
Average yield was 6.71%, 25bp over the secondary market benchmark and 48bp over the yield at the previous auction of the bills one week earlier.
Yields ranged in a wide band between 6.44% and 7.08% as against a band of 6.10% and 6.25% one week earlier.
ADVERTISEMENT
EBRD Forecasts Slight Contraction for Hungarian Economy in 2...
Gov't Extends Deposit Rate Cap Till Year-end
Hungarians Embrace Bank Cards for Easier Donation Experience
'Creating CEElicon' Valley in Focus of HVCA Investment Confe...
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.
