Weekly Plusz bond sales drop

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The latest weekly sales of the Hungarian Government Securities Plusz bonds for retail investors dropped to HUF 57.2 billion after jumping to HUF 82.1 bln, a peak so far this year, in the previous week, state news wire MTI reports, citing data released by the Government Debt Management Agency (ÁKK).

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The total subscription of the bond, launched in June 2019, now stands at HUF 4.611 trillion.

After dropping to HUF 20 bln-25 bln in the weeks after lockdown introduced in March to contain the spread of the coronavirus, the weekly sales recovered to hover between HUF 30 bln and HUF 41 bln before a jump last week.

The Plusz bond, which pays an annualized yield of 4.95% if held for the full five-year maturity, has attracted record demand among retail investors in Hungary, taking some of the heat off the real estate market where home prices, especially in the capital, had earlier risen faster than anywhere in the European Union.

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