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ÁKK cuts offer on weak demand at "liquidity" bill auction

The Government Debt Management Agency (ÁKK) cut its offer on weak demand at an auction of eight-week "liquidity" T-bills on Monday.

ÁKK sold HUF 45 billion of the bills, HUF 5 billion less than planned. Primary dealers submitted bids for HUF 59.7 billion.
Average yield at the auction was 6.36%, 20bp over the three-month secondary market benchmark but 5bp under the yield at the previous auction of the bills one week earlier. Yields ranged between 6.24% and 6.41%.