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Net sales of retail govʼt securities reach HUF 143 bln in July

Net sales of forint-denominated government securities targeted at retail investors came to HUF 143 billion in July, bringing the total stock to HUF 6,358.6 bln at the end of the month, the Government Debt Management Agency (ÁKK) said on Wednesday, as reported by state news wire MTI.

Monthly sales rose from HUF 89 bln in June.

The stock of retail forint-denominated government securities was up almost HUF 1,291 bln in the first seven months of 2017, the ÁKK said. The seven-month rise compares to a HUF 1,551 bln increase in the full year of 2016.

Net sales of interest-bearing Treasury bills added up to HUF 111.3 bln in July. Retail investors also bought HUF 80.2 bln of the inflation-pegged Premium Hungarian Government Bonds (PMÁKs) and HUF 16.3 bln of the recently introduced two-year retail securities, which pay 2.50% interest at present.

There were net redemptions, in contrast, of half-year retail securities, totaling HUF 66 bln.

The ÁKK noted the continuing shift towards longer-term maturities in the retail portfolio of government securities.