Egypt’s three and nine-month T-bill yields fall in weekly auction

Cairo: Yields on Egypt’s three- and nine-month Treasury bills fell at an auction on Sunday, data from the central bank showed.

Yields on the 91-day bill dropped to an average of 17.744 per cent from 18.028 per cent the last time similar bills were sold.

Yields on the 266-day bill declined to an average of 17.610 per cent from 18.715 per cent at the last similar auction.

Bank of America Merrill Lynch recommended in a recent report that investors buy 6-month Egyptian T-bills without hedging them.