Yields fell and demand was strong at an auction of bonds by the Government Debt Management Agency (AKK) on Thursday.
AKK sold HUF 18bn of three-year bonds, raising its original offer by HUF 3bn after primary dealers bid for HUF 70.9bn.
Average yield at the auction was 8.44%, 39bp under the secondary market benchmark yield but 6bp over the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 8.40% and 8.44%.
AKK sold HUF 12bn of five-year bonds, the announced amount. Dealers offered to buy HUF 27.3bn.
The average yield and the only yield at the auction was 8.70%, 17bp under the secondary market benchmark and just 2bp over the yield a the auction two weeks earlier.
AKK sold HUF 8bn of ten-year bonds, as planned. Offers came to HUF 16.8bn.
Average yield was 8.75%, 14bp under the secondary market benchmark and level with the yield at the previous auction. Yields ranged between 8.75% and 8.80%.
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