Yield at Egypt treasury bill auction rises, size trimmed

Reuters, Sunday 15 Jan 2012

Bank sells LE1 billion less than planned as yields rise to 15.6 per cent

Egypt's central bank said it cut back on the amount of 273-day treasury bills sold at an auction on Sunday as their yields increased.

The average yield rose to 15.645 per cent from 15.309 per cent at the last issue on 3 January, and the bank sold bills worth LE3 billion ($496.85 million) instead of the LE4 billion it had originally offered.
The central bank sells the bills on behalf of the Finance Ministry.
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