Egypt Dollar Bonds Jump as Boost Seen From Trump, Mideast Truce
- Ten Egyptian sovereigns among Tuesday’s top 20 EM performers
- Funding needs will determine medium-term outlook for bonds
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Egypt’s sovereign dollar bonds rallied on Tuesday, posting some of the biggest gains in emerging markets, amid optimism the country will benefit from both Donald Trump’s return as US president and a ceasefire between Israel and Hamas.
The country’s security due February 2048 rose for a sixth day to the highest level since Dec. 12. Nine other Egyptian bonds featured among the day’s 20 best performers in the Bloomberg EM Sovereign Total Return Index.