The Central Bank of Egypt (CBE) issued on Monday EGP1.34bn in T-bonds, lower than the planned amount of EGP1.75bn for the auction. Yields on the three-year EGP0.435bn, which came in at c43% of the planned EGP1bn for the maturity, dropped by 5bps to 16.461%. Yields on the seven-year EGP0.9bn rose by 1bps to 16.991%. Yields on both maturities were nearly flat in Monday’s auction as the changes in the yields were minimal.
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