Demand large at three-month bill auction, sale over plan

Debt

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Hungaryʼs Government Debt Management Center (ÁKK) sold HUF 50 billion of discount three-month T-bills at an auction today, HUF 10 bln over the original offer as demand jumped to levels not seen since last September, Hungarian news agency MTI reported. 

Primary dealers bid for HUF 131.9 bln of the papers, which expire on September 7. 

Average yield was 0.89%, 1 bps under the secondary market benchmark, calculated on a bill expiring three weeks later, and 6 bps under the yield at the previous auction of the bills one week earlier.

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