Yields on Egypt’s Tbond jump after rate hike

Yields on Egypt’s 1.5-year zero coupon, 3-year and 7-year bonds jumped aggressively at an auction on Monday after the central bank hiked rates by a higher-than-expected 150 basis points last week.

The average yield on the 1.5-year zero coupon treasury bond jumped to 14.631 percent from 12.719 percent at the last auction on March 7, data from the central bank showed.

Egypt’s 3-year treasury bond yield jumped to 15.115 percent from 13.408 percent in the last auction on March 7 and the 7-year bond yield jumped to 16.921 percent from 15.080 percent at the last auction on March 7.

Source: Reuters