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ÁKK securities sales fall slightly short of plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 38.0 billion of securities at auction on Thursday, slightly less than the original offer, state news wire MTI reported.

The ÁKK sold HUF 30.0 bln of discount 12-month T-bills, as planned. Primary dealers bid for HUF 67.3 bln of the securities. The average yield was 0.20%, level with the secondary market benchmark, but 2 basis points lower than the yield at the previous auction of the bills two weeks earlier.

The ÁKK also sold HUF 8.0 bln of five-year floating-rate bonds, lowering its original offer by HUF 2.0 bln after bids came to just HUF 11.2 bn.