Hungary’s Government Debt Management Agency (ÁKK) has sold HUF 50 billion worth of 12-month discount Treasury bills at an auction on Thursday. The average yield was set lower than before and is now below 4%.
The ÁKK has placed a HUF 50 bn lot of 12-m bills (D140430) on auction today and received HUF 90 bn worth of bids from primarily dealers, which resulted in a 1.8x bid/cover ratio. The issuer has not sold more of the instrument than originally intended.
The average yield was set to 3.96%, 6 basis points lower than the average yield at the previous auction of this maturity two weeks ago and 3 bps down compared to yesterday’s benchmark fixing.
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