Demand rises, yields down on Hungary's six-week liquidity bills.

By bne IntelliNews June 26, 2012
Hungarys state debt manager AKK placed the initially planned amount of HUF 45bn (EUR 156.5mn) in six-week discount liquidity bills expiring on August 15, the agency informed. Primary dealers submitted bids worth HUF 74bn, which positively compared to previous undersubscribed tender held on April 2, when AKK cut the float to HUF 30bn. The average yield reached 7.06%, down by 16bps from the previous auction and 7bps below the closest secondary market benchmark fixing. The range of yields narrowed and varied between 7.02% and 7.10%. The six-week bills are offered ad-hock depending on the government's liquidity needs.
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