Hungarian AKK sells HUF15bn of three-month T-bills

The State Debt Management Agency (AKK) sold HUF15bn of three-month T-bills on the latest primary auction, AKK data showed. The issued amount was in line with the original offer and demand for the securities was relatively low anyway. Total bids declined from the previous auction last week and amounted to HUF21.4bn. They provided a weak bid-to-cover ratio of 1.4x. The average yield on the auction was unchanged from the previous week at 0.02%. It was down by 2bps from the secondary market benchmark rate.

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