Strong demand for Hungary's 3-month discount bills.

By bne IntelliNews March 21, 2012
Hungary's debt manager AKK sold HUF 60bn (EUR 206.6mn) in three-month discount treasury bills at an auction on March 20, raising the initial offer by HUF 10bn, due to high demand, the agency informed. Investors offered HUF 127.2bn worth of bids, up from HUF 89.8bn at the previous auction on March 13. The average yield stood at 7.26%, or 1bpt up from the yield at the previous tender and 10ppt over the secondary benchmark fixing. The range of the accepted yields declined, varying between 7.22% and 7.28%.
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