Yields fall on Egypt's 10-yr bonds, rise on 6-month, 1-yr bills

Reuters , Sunday 2 Jul 2017

The average yields on Egypt's 10-year treasury bonds fell at an auction on Sunday, while yields on six-month and one-year bills rose at another auction, data from the central bank showed.

The average yield on the 10-year bond fell to 18.296 percent from 18.346 percent at the last auction on June 19.

The average yield on the 182-day bill rose to 21.032 percent from 20.384 percent at the last sale held June 15, while the yield on the 357-day bill rose to 21.047 percent from 20.307 percent in a similar auction.

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 attracted $9.8 billion in foreign investment in domestic debt instruments in the 2016-2017 fiscal year compared to $1.1 billion the previous year, the finance ministry told Reuters on Sunday. 

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