T-bill auction sale falls just below plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 48.0 billion of discount three-month T-bills at auction on Tuesday, lowering its original offer by HUF 2.0 bln because of tepid demand from primary dealers.   

Bids for the securities came to just HUF 54.3 bln, state news wire MTI reported.

The average yield was -0.06%, 8 basis points under the secondary market benchmark, but 9 bps over the yield at the previous auction of the bills one week earlier.

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