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ÁKK raises T-bill offer on big demand

The State Debt Management Center (ÁKK) sold Ft 45 billion of three-month T-bills at auction on Tuesday, raising its original offer by Ft 5 billion after receiving bids worth Ft 105.7 billion.

Yields at the auction fell sharply from Monday's secondary market benchmark. Average yield at the auction was 6.63%, 17 bp under Monday's secondary market benchmark and 26 bp lower than the yield at the previous auction of the bills one week earlier. Yields varied between 6.6% and 6.65%.