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Yields edge down at twelve-month T-bill auction

Yields edged down at an auction of twelve-month discount T-bills by the Government Debt Management Agency (ÁKK) on Thursday. ÁKK sold HUF 50 billion of the bills, the announced amount. Primary dealers submitted bids for HUF 117.6 billion.

Average yield at the auction was 5.88%, 4bp under the secondary market benchmark yield and 2bp lower than the yield at the previous auction of the bills two weeks earlier. Yields ranged between 5.85% and 5.90%.