Yields on Egypt’s three- and nine-month treasury bills fell at Sunday’s auction, breaking a trend of rising rates in recent weeks fueled initially by outflows from foreign investors. The 91-day bill rates declined to 19.364% from 19.69% at the last auction on 8 July, while the 266-day yields decreased to 19.422% from 19.68%. The auction saw higher participation than it did in recent weeks, but there was no breakdown available between local and foreign buyers. Short- and long-term debt yields have been climbing since April, hitting their highest rates this month in roughly a year. Outflows are estimated to have reached USD5bn since May amidst a broader global selloff in emerging markets, though the government has yet to release data for this period.