ÁKK sells HUF 80 bln of T-bills, as planned
pixabay
The Government Debt Management Agency (ÁKK) sold a combined HUF 80 billion of discount six-week and three-month T-bills at auction on Tuesday. Sales were in line with the original offers, state news wire MTI reported. Earlier, the ÁKK reduced its sale of discount twelve-month T-bills on low demand.
The ÁKK sold HUF 40 bln of discount six-week "liquidity" T-bills. Primary dealers bid for HUF 68.6 bln of the papers. The average yield was 0.02%, 2 basis points over the yield at the previous successful auction of the bills early in December.
The ÁKK also sold HUF 40 bln of discount three-month T-bills. Bids came to HUF 55.6 bln. The average yield was 0.02%, 3 bps over the secondary market benchmark and 5 bps higher than the yield at the previous successful auction of the bills three weeks earlier.
ÁKK cuts 12-month discount T-bill sales
Earlier over the Christmas period, on December 28, the ÁKK sold HUF 32 bln of discount twelve-month T-bills at auction, cutting its sale by HUF 8 bln as demand only slightly exceeded the HUF 40 bln original offer. Despite the reduced sale, yields rose back into positive territory.
Primary dealers bid for HUF 43.3 bln of the papers, which expire on December 27, 2018. The average yield was 0.04%, 4 bps over the secondary market benchmark and a similar 4 bps over the yield at the previous auction of the bills two weeks earlier.
The ÁKK had raised the volume on offer after cutting it, first to HUF 30 bln at the November 30 auction, then to HUF 20 bln at the previous auction held two weeks earlier.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
