The Government Debt Management Agency (AKK) sold the announced HUF 50 billion of discount "liquidity" T-bills at an auction on Monday in more than two-fold oversubscription. Both demand and yields rose from the previous auction held on January 24.
Subscriptions totaled HUF 122.2 billion, up from HUF 100.6 billion at the previous auction.
Average yield was 5.98%, up from the 5.70% average of the previous liquidity bill auction two weeks earlier, and also up from the 5.87% yield for the closest, three-month benchmark on Friday. The benchmark bill has a run almost three months longer than the bills auctioned which expire on March 23.
Yields varied in an unusually wide band, between 5.75% and 6.04%.
The offer was HUF 5 billion up from the January 24 auction.(Econews)