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Yields rise but AKK sells planned amount at 12-month T-bill auction

Yields climbed but demand was strong at an auction of twelve-month discount T-bills by the Government Debt Management Agency (AKK) on Thursday.

AKK sold HUF 30bn of the bills, the announced amount. Primary dealers bid for HUF 80.4bn.

Average yield at the auction was 7.07%, 9bp over the secondary market benchmark and 28bp higher than the yield at the previous auction of the bills two weeks earlier. Yields ranged between 7.00% and 7.20%.

The yield for the twelve-month T-bill rose over 7% at an auction for the first time since September 2009.