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ÁKK auction sales slightly exceed plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 23.0 billion of securities at auction on Thursday, HUF 2.0 bln more than planned, state news wire MTI reported.

The ÁKK sold HUF 15.0 bln of discount 12-month T-bills, in line with the original offer. Primary dealers bid for HUF 59.4 bln of the papers. The average yield was 0.04%, 1 basis point under the secondary market benchmark, and 11 bps lower than the yield at the previous auction of the bills two weeks earlier.

The ÁKK also sold HUF 8.0 bln of three-year floating rate bonds, raising its original offer by HUF 2.0 bln after dealers submitted bids for HUF 25.3 bln.