Egypt Cancels Auction For 91, 273-Day T-Bills

Egypt’s central bank said it had cancelled an auction of 3.5 billion Egyptian pounds ($573.8 million) in 91- and 273-day treasury bills it had planned for Wednesday.

The auction had been moved forward from next Sunday, which is a banking holiday in Egypt.

Average yields on 91-day and 266-day treasury bills sold at an auction on Sunday had edged higher, interrupting a downward trend of recent weeks, and the central bank sold fewer 266-day bills than it had offered.

Reuters