Yields fall on Egypt's 5-, 10-year T-bonds

CAIRO - 11 September 2017: Average yields on Egypt’s five- and 10-year treasury bonds fell at an auction on Monday, central bank data showed.

The five-year yield fell to 16.150 percent from 16.749 percent at the last similar auction on Aug. 28. The ten-year yield fell to 16.150 percent from 16.750 percent.

Appetite for Egypt’s domestic debt has increased since November when the central bank floated the pound currency as part of a $12 billion International Monetary Fund programme aimed at boosting the economy.

The central bank has raised interest rates by 700 basis points since the float.