Egypt cancelled its second consecutive treasury bonds auction on Monday after banks and investors demanded high yields on the debt, according to a statements by the Central Bank. The Monday sale was for 5 and 10-year t-bills worth EGP3.5bn (USD196.74mn) and attracted yields between 18.4-18.6%, Reuters cites two banking sources who participated in the auction. It was not immediately clear whether the finance ministry would auction off the bonds in a private sale like it did on in last Tuesday with a five-year bond also worth EGP3.5bn. Egypt aims to reach an average interest rate on government debt instruments in the current budget of about 14.7% compared with 18.5% in the FY17-18.