ÁKK sells HUF 40 bln of three-month T-bills, yield rises
The Government Debt Management Agency (ÁKK) sold the originally planned HUF 40 billion of discount three-month T-bills at auction on Tuesday. Subscription was more than 150% of the offer but the average yield still rose further, reaching positive territory for the first time since early August.
Primary dealers bid for HUF 64.5 bln of the securities expiring on February 14, 2018, state news wire MTI reported.
The average yield was 0.01%, 5 basis points over the secondary market benchmark, calculated on a bill expiring two weeks later, and 1 bp over the yield at the previous auction of the bills one week earlier.
The average yield has been negative or zero in the past three months.
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