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English news

21-Mar-2016

T-bill yields jump at auction

Yields on Egypt's three-month and nine-month treasury bills jumped aggressively at auction on Sunday, finance ministry data showed, after the central bank increased interest rates by a higher than expected 150 basis points on Thursday. The average yield on Egypt's 91-day bill jumped to 13.061 percent, compared with 11.591 percent at the last sale on March 13. The yield on the 273-day bill jumped to 13.987 percent, against 12.478 percent at a similar auction on March 13. The jump follows similar increases last week to yields on the five-year and 10-year treasury bonds on Monday and the one-year and six-month bills on Thursday. (Reuters)

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