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ÁKK T-bill sale falls short of plan

The Government Debt Management Agency (ÁKK) sold HUF 14.0 billion of discount three-month T-bills at auction on Tuesday, cutting its original offer by HUF 6.0 bln on weak demand from primary dealers.

Bids for the securities came to just HUF 19.3 bln, state news agency MTI reported.

The average yield was 0.00%, 3 basis points under the secondary market benchmark, but level with the yield at the previous auction of the bills one week earlier.