Yields move in opposite directions in Sunday’s auction
Yields on T-bills moved in opposite directions in the Central Bank of Egypt’s (CBE) auction on Sunday. Yields on the EGP4.7bn three month tenor increased by 12bps to reach 17.781%, while yields on the EGP9.2bn nine-month tenor declined by 12bps to 17.791%. The total issuance came below the EGP17bn initially planned for the auction, as the CBE only accepted c56% of the planned amount (EGP8.5bn) for the three-month maturity.
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