Bloomberg News

Hungary Cuts Treasury Bill Offer, Yield Reaches 2-Year High

October 13, 2011

(Updates with scope of yield jump from first paragraph.)

Oct. 13 (Bloomberg) -- Hungary cut its offer of 12-month Treasury bills at a second consecutive auction as financing costs jumped to the highest in two years.

The state today sold 30 billion forint ($141 million) of bills, 10 billion forint less than planned, at an average yield of 6.22 percent, the highest for that maturity since Oct. 29, 2009, according to data from the Debt Management Agency on Bloomberg.

Total bids amounted to 50.2 billion forint, compared with 30.2 billion forint two weeks ago, which was the lowest in more than six years and led the agency to reduce its offer at that sale by 34 percent.

Hungary’s currency depreciated 0.7 percent to 292.26 per euro as of 12:19 p.m. in Budapest.

--With assistance from Edith Balazs in Budapest. Editors: Ana Monteiro, Peter Branton

To contact the reporter on this story: Andras Gergely in Budapest at

To contact the editor responsible for this story: Gavin Serkin at

The Aging of Abercrombie & Fitch
blog comments powered by Disqus