Average yields on Egypt 5-, 10-year T-bonds jump

CAIRO

Average yields on Egypt’s five-year and 10-year treasury bonds jumped at an auction on Monday, data from the central bank showed.

The yield on the five-year bond rose to 18.760 per cent from 17.357 per cent at the previous auction, while the yield on the 10-year bond increased to 18.652 per cent from 17.244 per cent.

The central bank raised its key interest rates by 200 basis points on Sunday, citing stronger economic growth and falling unemployment, confounding the expectations of economists who forecast rates were unlikely to change.