The Government Debt Management Center (ÁKK) sold HUF 39.5 billion worth of 12-month discount treasury bills at an auction on Thursday. Demand picked up following a lukewarm auction two weeks ago as investors oversubscribed the HUF 30 bn lot on offer and also sought to buy variable-interest bonds.
Primary dealers submitted bids totaling HUF 81.3 bn, after which the ÁKK raised the original HUF 30 bn amount. The last time demand was this high was in December 2016. The average yield was 0.01%, one bp higher than in early February.
In addition to T-bills, the ÁKK also auctioned off five-year variable-rate bonds today. Bids for the HUF 8 bn lot on offer totaled HUF 23.7 bn, prompting the debt manager to raise the amount sold to HUF 12 bn.
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