Demand fell and yields rose slightly from a week earlier at an auction of discount three-month T-bills where the Government Debt Management Agency (ÁKK) sold the announced volume on Tuesday.
ÁKK sold HUF 45 billion of the bills, the announced amount. Primary dealers submitted bids for HUF 75.6 billion. Oversubscription fell further from HUF 92 billion at the previous auction held on February 1 where ÁKK also sold the announced HUF 45 billion of the bills.
Average yield at the auction was 5.96%, 9 bp over the yield for the secondary market benchmark, which matures on June 1, two weeks later than the bill on offer, but just 2 bp higher than the yield at the previous auction of the bills. Yields ranged between 5.85% and 6.00% as the range moved up from 5.81% and 5.96% one week earlier. (MTI – Econews)