Demand rises, yields down on Hungary's three-month T-bills.

By bne IntelliNews July 18, 2012
Hungary's debt manager AKK sold HUF 60bn (EUR 208.7mn) in three-month discount treasury bills at an auction on July 17, raising the initial offer by HUF 15bn, the agency informed. Investors offered HUF 179.6bn worth of bids providing almost a four-fold coverage over the original supply. Demand strengthened from the previous auction on July 11, when bids totalled HUF 106.1bn. The average yield at the auction stood at 6.89%, down by 22bps from the secondary benchmark fixing and by 12bps from the yield at the previous tender. The range of accepted yields narrowed and varied between 6.85% and 6.90%. The lower yields resulted from the start of the loan talks with the IMF.

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