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Monday, 23 July 2018

Average yields on Egypt's five- and 10-year T-bonds rise

Reuters , Monday 17 Jul 2017
Views: 1736
Views: 1736

The average yield on Egypt's five- and 10-year treasury bonds rose at an auction on Monday, central bank data showed, amid an increased interest in Egyptian debt among foreign investors.

The average yield on the five-year bonds rose to 18.934 on Monday from 18.349 at the last similar auction on June 19.

The average yield on the 10-year bonds rose to 18.669 percent at an auction on Monday from 18.296 percent at the last auction held July 2.

Appetite for Egypt's domestic debt has increased since the central bank floated the pound currency in November as part of an International Monetary Fund loan agreement aimed at reviving the economy.

Egypt has raised interest rates by 700 basis points since the float. 

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