ÁKK sold HUF 50 billion of three-month discount T-bills, the planned amount, at an auction on Tuesday.
Subscription rose to more than threefold and reached the highest level seen since the middle of February. The average yield was slightly down from the previous auction one week earlier and was up from the respective Wednesday secondary market benchmark.
Bids for the bills, expiring on August 10, came to HUF 170.7 billion, sharply up from HUF 110.6 billion for bills due on August 3 at the April 26 auction.
Average yield was 5.93%, down 1bp from the average yield at the previous auction. The average yield was 8bp over the secondary market benchmark, which is calculated on bills expiring on September 21.
The range of yields was hardly changed from one week earlier, varying between 5.85% and 5.95% as against between 5.86% and 5.95%.