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ÁKK cuts offer at "liquidity" bill auction

The Government Debt Management Agency (ÁKK) reduced its original offer for six-week "liquidity" bills at an auction of on Monday because of low demand. ÁKK sold HUF 40 billion of the bills, HUF 10 billion less than planned. Primary dealers submitted bids for just HUF 55.7 billion of the bills. Average yield was 5.50%, down 16bp from the previous auction of the bills on January 7. Yields ranged between 5.44% and 5.52%.