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ÁKK sells planned three-month bills, yield unchanged

Hungaryʼs Government Debt Management Agency (ÁKK) sold HUF 15 billion of discount three-month T-bills at auction on Tuesday, in line with the original offer. The average yield stayed at minus 0.05%, reported state news wire MTI.

Primary dealers bid for HUF 37.2 bln of the papers expiring on January 17, 2018. The average yield was negative 0.05%, 2 bps under the secondary market benchmark, calculated on a bill expiring on February 28, 2018, and unchanged from the average yield at the previous auction of the securities one week earlier.   

The average three-month auction yield dipped below zero on September 5 and has been negative since then.