Egypt’s T-Bill Fund Raiser Falls Short; 3-Month Yield Jumps
This article is for subscribers only.
Egypt fell 11 percent short of raising the 6.5 billion Egyptian pounds ($1.1 billion) it targeted at an auction of treasury bills today as the average yield on three-month notes jumped the most in two months.
The Ministry of Finance sold 3 billion pounds in three-month securities, the highest amount since Feb. 13, according to Bloomberg data. It raised 2.79 billion pounds from the sale of nine-month notes, less than the 3.5 billion it sought, according to Central Bank of Egypt data on Bloomberg.