Three-month T-bill auction undersubscribed, yield unchanged
pixabay
The Government Debt Management Agency (ÁKK) sold HUF 12 bln of discount three-month T-bills at auction on Tuesday, cutting its original offer by HUF 8 bln in light of undersubscription, Hungarian news agency MTI reported.
The average yield was 0.01%, level with the record-low yield at the previous auction of the bills one week earlier, and 6 bps under the secondary market benchmark which matures three weeks later.
Yields ranged between 0.03% and -0.01%, the first negative yield on a Hungarian government security.
Primary dealers bid for HUF 14.2 bln of the papers, under the HUF 20 bln original offer.
A three-month T-bill auction has not been undersubscribed since early January.
ADVERTISEMENT
Áder Flags Delay in Full-scale Rollout of Bottle Return Syst...
India's G20 Presidency, Dawn of New Multilateralism - Narend...
Over Half of SSCs Plan to Broaden Service Palette
TikTok Commits to Improved Consumer Communication in Hungary
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.
