Yields on treasury bills continued their upward trend driven by a recent 100bps hike in policy rates and also reacting to yesterday’s release of June inflation numbers, which showed headline inflation jumped to a seven-year high of 14.0%. Average yield on Egypt's 91-day bill (EGP4.75bn) rose to 14.093% from 13.974% at the last sale on 3 July and the yield on the 273-day bill (EGP5.25bn) rose to 15.320% from 15.115% at a similar auction a week ago. The average yield on the 182-day bill (EGP4.75bn) also rose to 15.110% from 14.917% at the last sale on 29 June and the yield on the 364-day bill (EGP5.5bn) rose to 15.370% from 15.185% at a similar auction. (Reuters, Mohamed Abu Basha)