Thursday, January 5, 2012

Egyptian bond yields skyrocket as reserves plunge

Selected government energy prices up by 33 percent

Cairo - Yields on the country’s benchmark dollar bonds maturing in 2020 jumped 18 basis points, or 0.18 percentage point, to a record 8.25 percent. The government canceled an auction of pound-denominated bonds on Jan. 2 as investors demanded yields of more than 16

The government says it’s working to rein in the budget deficit and has raised energy prices for some industries by about 33 percent.

No comments:

Post a Comment