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Demand strong, yields drop slightly at three-month T-bill auction

Demand rose and yields fell slightly at an auction of three-month discount T-bills by the government debt management agency ÁKK.

ÁKK sold HUF 40 billion of the bills, the announced amount. Primary dealers submitted bids for HUF 106 billion nominal value bids, more than the HUF 86.7 billion at the previous auction held one week earlier.

Average yield at the auction was 5.72%, 1bp below the secondary market benchmark, calculated on a bill expiring on April 6, one week before the redemption of the bill sold at the auction, and 2 bp under the yield at the previous auction of the bills one week earlier. (MTI – Econews)