Treasury bonds rise in second auction post policy rate hike
Yields on five-year and 10-year treasury bonds rose at an auction on Monday, data from the central bank showed. The average yield on five-year bond rose 25 basis points (bps) to 13.426% while yields on the 10-year bond rose by 20 bps to 15.556%. The rise in yields remains shy of the 50 bps policy rate hike by the Central Bank of Egypt on 24 December, indicating that abundant liquidity, especially at public banks, is keeping yields relatively in check. (Reuters, Mohamed Abu Basha)
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