Cairo – Mubasher: Investors have been flocking to purchase Egypt’s five-year and ten-year treasury bonds (T-bonds).
According to data released by the Egyptian Cabinet's media center, the average yield on ten-year T-bonds fell by 3.74% to 14.417% for the issuance offered on 23 September, when compared to that offered on 1 January.
In addition, the average yield on five-year notes declined by 3.94% to 14.35% on 23 September, compared to the average yield on notes offered with the same maturity at the beginning of the year.
The drop in the average yield was ascribed to the high demand from foreign investors, the decrease in the overnight deposit and lending rates to 14.25% and 15.25%, respectively, as well as the retreat in inflation rate to 6.7% in August.
