Egypt’s international bonds surge following Israel-Hamas ceasefire agreement
Updated 1/16/2025 9:11:00 AM
Arab Finance: International government bonds issued by Egypt increased on January 15th after Israel and Hamas reached a ceasefire agreement, according to Reuters.
The country’s 2059 bond went up over 1 cent, whereas the last bid stood at $0.75, Tradeweb data showed.
Additionally, the Egyptian pound was slightly changed.
Similarly, international bonds issued by other Middle Eastern countries also rallied following the agreement.
Israel's 2043 bond rose more than 1 cent to trade at $0.82, while Jordan's 2047 bond jumped by nearly 2 cents to $0.89.
As for the Israeli shekel, it climbed by 0.8% against the dollar to its strongest in a month.
Michael Brown, senior research strategist at Pepperstone in London, noted that the Gaza ceasefire “reduces geopolitical risk to a degree, though the question now is how long the ceasefire holds for."
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