Hungary’s Government Debt Management Agency (ÁKK) has received HUF 124.8 bn worth of bids on HUF 30 bn 3-month discount Treasury bills (D100707) on Tuesday. Despite the healthy 4.16x bid/cover ratio, the issuer has not allotted more than it originally offered of the instrument.
The average yield was set to 5.15%, the same as Monday’s benchmark fixing (of the series D100630) but 11 bps lower than at the previous auction of the instrument a week ago, which already marked a good 7-yr low.
Accepted yields were in a range between 5.10% and 5.17%.
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