UPDATE - Yields fall at twelve-month T-bill auction
Yields fell at an auction of twelve-month discount T-bills by the Government Debt Management Agency (AKK) on Thursday.
AKK sold HUF 45bn of the bills, the announced amount. Offers by primary dealers came to HUF 71.3bn, up from HUF 41.6bn for the same amount on offer at the previous auction on January 5.
Average yield was 8.19%, 11bp under the secondary market benchmark and 177bp lower than the yield at the previous auction two weeks earlier. Yields ranged between 8.00% and 8.30%.
AKK accepted HUF 3.0bn of HUF 4.4bn of bids for an auction of three-year floating-rate bonds on Thursday. Bids were under the announced amount of HUF 5bn.
The floating-rate bonds sold at an average price of 94.26% of nominal value, down from the 95.80% average price at their previous auction on December 8. AKK sold the announced HUF 5bn at the December auction when it received bids for HUF 16.7bn.
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