Hungary's Government Debt Management Agency (ÁKK) has received HUF 58.9 billion worth of bids on HUF 35 bn 3-month discount T-bills (D080409) at an auction on Wednesday. Due to the moderate demand (bid/cover ratio of 1.6x), the ÁKK sold only the original amount on offer.
The bills were sold at an average yield of 7.45%, unchanged from last Friday's benchmark fixing, but down 4 bps from the previous auction of the instrument (of series D080227).
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