ÁKK raises 3-month T-bill sale, yield remains negative
The Government Debt Management Agency (ÁKK) sold HUF 30 billion of discount three-month T-bills at auction on Tuesday, raising its original offer by HUF 5 bln. Major oversubscription continued and the average yield rose, albeit remaining negative.
Primary dealers bid for HUF 100.4 bln of the securities, state news wire MTI reported. The average yield was -0.03%, 2 basis points under the secondary market benchmark, but 2 bps higher than the yield at the previous auction of the bills one week earlier.
At the two previous weekly auctions of the three-month bills, the ÁKK offered and sold HUF 25 bln of the securities. Offers in previous weeks extending back almost a year were mostly for HUF 40 bln or HUF 50 bln, MTI noted.
The average three-month T-bill auction yield fell below zero last week for the first time since January 2018.
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