Hungary's government debt management agency ÁKK sold the announced HUF 50 billion volume of three-month discount T-bills against more than triple subscription at an auction on Tuesday.
ÁKK sold HUF 50 billion of the bills expiring on September 21. Primary dealers submitted bids for HUF 158.5 billion, up from HUF 120.2 billion at the previous auction held on June 7. Subscription neared the high levels in May.
Average yield was 5.82%, 6bp under the yield at the previous auction one week earlier, and 3bp under the yield for the secondary market benchmark, calculated on the same series. In a rare development all accepted yields were at 5.82%. Accepted yields moved in a 5.85-5.89% range of the previous auction.