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AKK sells announced HUF 50 billion of three-month T-bills, yields rise

AKK sold HUF 50 billion of three-month discount T-bills, the planned amount, at an auction on Tuesday. Subscription dropped but still was near 2.5 times of the offer. Yields rose slightly from the previous auction one week earlier and were also up from the Wednesday benchmark.

Bids for the bills, expiring on July 27, came to HUF 121.0 billion, down from HUF 148.5 billion, a two-month peak, at the previous auction.

Average yield was 5.94%, 9bp over the secondary market benchmark, which is calculated on the same series bills. The yield was 2bp over the yield at the previous auction of the bills one week earlier.

The range of yields widened, to between 5.89% and 5.96% from between 5.90% and 5.93% one week earlier.