Yields on T-bills issued Thursday by the Central Bank of Egypt (CBE) on behalf of the Finance Ministry plunged to a three-year low, as investors line themselves up for a potential rate cut in the CBE’s next meeting on 26 September. Yields on the EGP9.5bn six-month bill dropped by 81bps to 15.565%, and yields on the EGP12.4bn 12-month tenor plunged by 95bps to 14.923, a three-year low for both bills. This came as submitted bids covered 3.3x the required amount on both tenors, prompting the Finance Ministry to accept an additional 30% than the planned amount of EGP9.5bn for the 12-month bill.