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ÁKK bond auction sales exceed plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 78.0 billion of bonds at auction on Thursday, raising its original offer by HUF 13.0 bln on strong demand from primary dealers.

The ÁKK sold HUF 25.0 bln of three-year bonds, HUF 5.0 bln over plan. Dealersʼ bids came to HUF 50.7 bln, and the average yield was 0.88%, 7 basis points under the secondary market benchmark and 13 bps lower than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 25.0 bln of five-year bonds, as planned, after bids reached HUF 34.0 bln. The average yield was 1.49%, 10 bps under the benchmark and 24 bps lower than the yield at the previous auction two weeks earlier.

Finally, the ÁKK sold HUF 28.0 bln of ten-year bonds, HUF 8.0 bln over plan. Bids added up to HUF 47.9 bln. The average yield was 2.59%, 11 bps under the benchmark and 54 bps lower than the yield at the previous auction of the bonds four weeks earlier.