Hungary’s Government Debt Management Agency (ÁKK) has cut is 12-month T-bill auction on Thursday over subdued demand. The average yield is close to 1%.
The issuer has received HUF 29.3 billion worth of bids on a HUF 20 bn lot of 12-month discount Treasury Bills today and decided to allot only HUF 15 bn. The average yield was set to 0.95%, up 10 basis points compared to the average yield at the previous auction of the bill a fortnight ago and 12 bps higher than yesterday’s secondary market benchmark fixing.
The auction of 5-year floating-rate bond was not a lot more successful, either. The HUF 8 bn lot attracted HUF 13.1 bn worth of bids, of which the debt manager accepted only HUF 7 bn.
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