By: Heba El-Kordy

Cairo – Mubasher: The yield on the Egyptian treasury bonds (T-bonds) has fallen for the third week in a row to its lowest level since August.

The average yield on the five-year T-bonds oversubscribed 3.4 times recorded 18.06%, data by the Central Bank of Egypt (CBE) showed.

Additionally, the average yield on the 10-year T-bonds, which were oversubscribed 4 times, stood at 18.03%, the lowest since August.

Earlier this morning, the CBE announced the issuance of EGP 1.25 billion T-bonds on behalf of the Ministry of Finance (MOF).

Egypt’s debt instruments, especially treasury bills, are attractive to foreign investors owing to their high yield. State-run banks are the largest holders of the government’s debt instruments.

Egypt aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.

Translated by: Mai Ezz El-Din