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

CAIRO - 9 October 2017: Average yields on Egypt’s five- and 10-year treasury bonds rose at an auction on Monday, central bank data showed.

The average yield on the five-year bond rose to 15.282 percent from 15.000 percent at the last similar auction, while the average yield on the 10-year bond rose to 15.555 percent from 15.000 percent.

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.