ADVERTISEMENT

Demand high, yields above benchmark at three-month T-bill auction

Debt

The Government Debt Management Agency (AKK) sold HUF 5bn more three-month discount T-bills than planned at an auction seeing threefold subscription on Tuesday. Yields fell sharply from a week earlier but exceeded Monday’s respective benchmark.

AKK sold HUF 50bn of the bills, HUF 5bn more than the announced amount as demand for the bills expiring on May 9 totalled HUF 136.7bn.

Demand jumped back after dropping to HUF 89.5bn at the previous auction on January 24. With that exception, demand for the bills has been well over HUF 100bn throughout January.

Average yield was 7.41%, 6bp over the secondary market benchmark, calculated on a bill series expiring on May 2, and 24bp under the yield at the previous auction of the bills one week earlier.

Yields ranged between 7.20% and 7.45%, as the range dropped and narrowed further from between 7.45% and 7.73% at the previous auction.

The debt manager will hold an exchange auction offering HUF 5bn-5bn of 2023/A bonds in exchange of 2013/D and 2013/E bonds on Wednesday. AKK refused all the combined HUF 13bn bids at the last such auction on January 4 in an apparent dissatisfaction of the prices in the bids.

AKK will auction HUF 45bn of twelve-month discount T-bills expiring on December 27 on Thursday.

ADVERTISEMENT

Consumer, business confidence reach 2-year high - GKI Analysis

Consumer, business confidence reach 2-year high - GKI

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.