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Demand low for 3-month t-bills, yield rises

The Government Debt Management Agency (ÁKK) sold HUF 33 billion of discount three-month Treasury bills at auction on Tuesday, cutting its original offer by HUF 7 bln on weak demand.   

Primary dealers bid for HUF 44.6 bln of the securities expiring on March 14, 2018, state news wire MTI reported.

The average yield was 0.01%, 2 basis points over the secondary market benchmark, and 1 bp higher than the yield at the previous auction of the bills one week earlier.