Yields on Hungary's twelve-month bills decline further at primary auction.

By bne IntelliNews August 30, 2013

Hungary's state debt manager AKK sold HUF 50bn (EUR 166.3mn) in 12-month treasury bills at an auction on August 29, in line with the initial offer, AKK informed.

Investors’ bids totalled HUF 80.2bn, which marked a decline from HUF 129.4bn at the previous tender held a couple of weeks ago, when AKK raised the initial float by HUF 10bn.

The average yield at the latest auction reached 3.97%, down by 4bps from the yield at the previous tender and 3bps under the secondary benchmark fixing.

The range of yields widened and varied between 3.91% and 4.00%.

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