Hungarians buy HUF 26 bn in superbonds at post offices

Sales of the printed MÁP+ began early in November, which means Hungarians bought an average HUF 1 bn of it a day.

Launched in June, the high-interest superbond saw total sales of HUF 2,845 bn until Wednesday. As reported recently, the stock of forint-denominated retail government securities exceeded HUF 8,800 bn in October, but the only type showing net growth is now the MÁP+, with all other government securities, even the inflation-linked premium bond, shrinking in volume. It thus appears that the superbond is not just absorbing funds from other forms of investment in the market but is also cannibalising other retail government securities.