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ÁKK sells Ft 20 bln of T-bills on falling yields

The State Debt Management Center (ÁKK) sold Ft 20 billion of three-month T-bills at auction on Tuesday, the announced amount, after receiving offers for Ft 63.79 billion. The debt manager cut its offer from Ft 25 billion in recent week. The reduced offer could be in preparation for the possible inflow of the Ft 460 billion proceeds from the privatization of Budapest Airport Rt. Average yield at the auction was 5.99%, 9 bp under Monday's secondary market benchmark and 3 bp less than the yield at the previous auction a week earlier.