Are you sure?

ÁKK bond buyback falls short at reverse auction

The Government Debt Management Agency (ÁKK) bought back a combined HUF 5.69 billion of bonds expiring in 2020 before maturity at a reverse auction on Wednesday, state news wire MTI reported.

The ÁKK bought back HUF 5.05 bln of 2020/A bonds, which mature on November 12, 2020, accepting all the bids. The average repurchase yield was 0.00%.

The ÁKK also bought back HUF 0.64 bln of 2020/B bonds maturing on June 24, 2020, also accepting all the bids. The average repurchase yield was also 0.00%.

The repurchase yields compare to a six-month secondary market benchmark of 0.05% and a 12-month benchmark of 0.03%.

The ÁKK had planned to buy back HUF 5 bln of both papers.