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Yields sharply up at 6-month discount T-bill auction

Yields rose sharply at an auction of 6-month discount T-bills on Wednesday where the Government Debt Management Agency (ÁKK) sold the originally offered Ft 40 billion in bills against demand for Ft 73.5 billion.

The average yield came to 6.60%, up 25 basis points from Tuesday's respective secondary market benchmark and up 39bp from the previous 6-month bill auction held two weeks earlier. Auction yields ranged between 6.40% and 6.65%. ÁKK issued Ft 48 billion bills of which Ft 8 billion is for sale in ÁKK's own retail network.