November 7, 2016 / 2:13 PM / a year ago

Yields jump at Egypt T-bond auction on Monday data

CAIRO, Nov 7 (Reuters) - Yields jumped at Egypt’s five-year and ten-year treasury bond auctions on Monday, data from the central bank showed.

The average yield on the five-year bond rose to 20.548 percent from an average of 17.509 percent at the previous auction on Oct. 24. The average yield on the 10-year bond also rose to 20.582 percent from 17.591 percent at the same auction.

Monday’s auction was the first for treasury bonds since the central bank floated the pound currency on Thursday and raised interest rates by 300 basis points. (Reporting by Ahmed Aboulenein; Editing by Eric Knecht)

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