Cairo – Mubasher: A report on the debt markets in Africa issued by BNP Paribas bank on Thursday revealed that Egypt’s yields of bonds declined to their lowest levels since their issuance in January 2017.
The report noted that the average yield dropped by more than 100 basis points due to different maturity dates.
“Yields of bonds retreated as a result of the increased demand for the emerging markets, high levels of liquidity, in addition to the investors’ consecutive trust in the economic reform programme in Egypt,” the bank said.
The report noted that the Egyptian bonds are traded better since they were listed on the emerging markets bond global diversified index, which boosted Egypt’s weight in the index to 2%, the highest level among other emerging markets such as Morocco, Nigeria, and Pakistan.
Egypt’s positive trading on this index reinforced local liquidity in the secondary markets.
