Egypt’s sovereign USD bonds rise following interest rate hike

Updated 8/6/2023 11:22:00 AM
Egypt’s sovereign USD bonds rise following interest rate hike

Arab Finance: Egypt’s sovereign dollar-denominated government bonds rose on August 4th, one day after interest rates hiked by 100 basis points (bps), Reuters reported.

Long-term bonds maturing in 2048 went up by almost 1.4 cents, Tradeweb data showed.

Meanwhile, bonds with maturities in 2040 and beyond rose by 1 cent or more, and shorter-dated bonds with maturities until 2031 gained between 0.5 to 0.9 cents, as per the data.

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