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AKK sells announced amount of three-month T-bills

Oversubscription was more than double at an auction of discount three-month T-bills by the Government Debt Management Agency (AKK) on Tuesday and the originally planned amount of debt was sold.

AKK sold HUF 45bn of the bills, as announced. Primary dealers submitted bids for HUF 101.4bn.

Average yield was 7.67%, 17bp over the secondary market benchmark and 24bp higher than the yield at the previous auction of the bills one week earlier. Yields ranged between 7.42% and 7.85%.

At the previous auction of the bills, AKK cut its offer by HUF 10bn to HUF 35bn.