ÁKK sticks to 3-month T-bill offer, despite negative yield
pexels
The Government Debt Management Agency (ÁKK) sold HUF 25.0 billion of discount three-month T-bills at auction on Tuesday, standing by its original offer despite strong oversubscription and falling yields.
Primary dealers bid for HUF 124.0 bln of the securities, state news wire MTI reported. The average yield was -0.05%, 17 basis points under the secondary market benchmark and 10 bps lower than the yield at the previous auction of the bills one week earlier.
At the previous weekly auction of the three-month bills, the ÁKK also offered, and sold, just HUF 25 bln of the securities. Offers in previous weeks, extending back almost a year, had been mostly for HUF 40 bln or HUF 50 bln of the papers, MTI noted.
The average yield at a three-month T-bill auction has not been negative since January 2018.
MOL Shareholders Approve Dividend of Around HUF 250/Share
Gov't Awards HUF 6.5 bln of Subsidies to SMEs in Underdevelo...
LOT Seoul Flight Lands in Kazakhstan Due to Drunken Passenge...
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.
