Egyptian economy on “sound footing” thanks to political stability and strong demographics: Mercer

Political stability and strong demographics have put the Egyptian economy on a “sound footing,” David McMillan (LinkedIn), global chief investment officer for hedge funds and partner at Mercer, told Bloomberg TV (watch, runtime: 01:55). “I think there are a couple of elements that are very interactive. Number one you have political stability and you’ve got an economy that’s on sound footing. The real carryout or wild card driver to this perhaps is that you’ve got exceedingly strong demographics, and that gives you a real nice tailwind.” McMillan also sees the carry trade as being “not as prevalent as it once was,” but says growth in Egypt is going to “seek to compress those yields.”