At the very first auction of the year.
But cuts T-bill auction to HUF 32 bn from HUF 40 bn.
Debt manager sells more debt than planned.
Yield remains zero percent.
Investors did not need much convincing.
Large offer attracts huge demand. Yield remains practically 0%.
Paper not so attractive at close-to-zero percent yield.
Demand for Hungarian debt remains robust.
Investors and state find each other.
Funding is still badly needed.
ÁKK is already willing to pay yield, though.
Lucky for the ÁKK, supply meets demand.
Long-end yields slowly fall.
Larger offer of T-bills, yet demand is small.
Yield remains in negative territory.
Central bank eased monetary conditions in vain?
Negative yields are here to stay for a while longer.
Also holds auction of 5-yr floating-rate bond.
Seems average yield bottomed out last week.