Hungary lifts 12-m auction on gargantuan demand, yield drops
Published March 8th, 2007
Hungary’s Government Debt Management Agency (ÁKK) has received HUF 246.77 billion worth of bids on HUF 30 bn 12-month discount T-bills (D080312) at an auction on Thursday and decided to sell HUF 5 bn more of the instrument than originally planned.
The average yield was set to 7.98%, down from 8.17% at the previous auction on 22 February.
Accepted yields were between 7.95% and 7.98%.
The bit-to-cover ratio was 8.23x, versus 5.25x at the previous auction of the bills.
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