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Market value of outstanding gov’t securities rises 4.6% in Q1

Measured at market value, Hungarian government securities holdings rose 4.6% to Ft 9,967.6 billion in Q1 2006, mainly as the result of a 12.1 percentage point increase in the market value of treasury bill holdings, but also because of a 2.9 percentage point rise in the market value of government bond holdings, the National Bank of Hungary (MNB) said in its quarterly report on the sector published on Monday.

The market value of government securities fell Ft 53.9 billion in Q1 2006, while their nominal value increased Ft 493.7 billion.
The market value of households’ government securities holdings rose Ft 21.8 billion in Q1. The increase was the result of net purchases, considering the sector registered a Ft 2 billion loss on its portfolio. Households’ holdings of government bonds and T-bills, calculated at market value, rose Ft 12.6 billion and Ft 9.1 billion, respectively. The sector's share of all government securities continued to fall, as it has since early 2004 (with the exception of Q4 2005), slipping to 10.4% at the end of March, down from 10.7% at the end of December 2005 and 11.7% one year earlier.