CBE cancels 1.5-,three-year bond auctions, seven-year bond yields rise
The Central Bank of Egypt (CBE) cancelled the 18-month and three-year bond auctions on Monday without giving a reason for the cancellations. One banker said the bids submitted were likely considered too high. Yields on the seven-year bond rose to 17.521% on Monday compared with 17.291% at the last sale on 11 July. (Reuters)
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