15-yr bonds receive mammoth bids at auction
Thursday, February 2, 2006, 16:38
The Government Debt Management Agency (ÁKK) has received Ft 95.6 billion and Ft 89.8 billion worth of bids on Ft 65 billion and Ft 20 billion 3-year (2009/E) and 15-year bonds (2020/A), respectively, at auctions on Thursday. The ÁKK sold Ft 5 billion less of the shorter instrument and Ft 5 billion more of the 15-year bonds.
The bid/cover ratio at the 15-year paper was 3.6. Such a huge bid has not been seen for the bond since the auction series took off in November 2001.
The average yield of the 3-year maturity was set to 6.92%, up 14 bps from Wednesday's reference yield and 17 bps higher than t the previous auction on 5 January.
The average yield of the 15-year bonds came in at 6.77%, down 3 bps from yesterday's reference yield and also 3 bps lower than t the previous auction on 8 December 2005.