Demand rose and yields dropped slightly at an auction of three-month discount T-bills by the Government Debt Management Agency (ÁKK) on Tuesday.
ÁKK sold HUF 50 billion of the bills expiring on October 12, 2011, the announced amount. Primary dealers submitted bids for HUF 138.5 billion, up from HUF 116.8 billion at the previous auction on June 28.
Average yield was 5.81%, 4bp under the Monday yield on the secondary market benchmark bill which matures on November 16, and 2bp under the yield at the previous auction of the bills one week earlier.
Yields ranged between 5.79% and 5.82% as against a range of 5.8% and 5.85% one week earlier.
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