Hungary cuts offer of one-year T-bills.

By bne IntelliNews November 11, 2011
Hungary sold HUF 23bn (EUR 73.5mn) of the HUF 40bn initially offered one-year T-bills, the countrys debt management agency AKK said. Demand for treasuries has been declining in the past weeks. It plummeted at the last auction, providing coverage of only half of the offered amount, and the debt manager withdrew the issue. At yesterdays tender bids were low again, but the authority accepted all of them. The average yield stood at 6.79%, being 24bps above the benchmark fixing. Yields varied between 6.53% and 7.19%.
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