{"id":596483,"date":"2019-08-29T04:00:11","date_gmt":"2019-08-29T04:00:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/29\/goldman-sachs-sees-egypts-10-year-bonds-as-extremely-attractive-as-interest-rates-come-down\/"},"modified":"2019-08-29T04:00:11","modified_gmt":"2019-08-29T04:00:11","slug":"goldman-sachs-sees-egypts-10-year-bonds-as-extremely-attractive-as-interest-rates-come-down","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/29\/goldman-sachs-sees-egypts-10-year-bonds-as-extremely-attractive-as-interest-rates-come-down\/","title":{"rendered":"Goldman Sachs sees Egypt\u2019s 10-year bonds as \u201cextremely attractive\u201d as interest rates come down"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><b> Egyptian 10-year bonds to remain \u201cextremely attractive\u201d as interest rates come down -Goldman Sachs:<\/b> Egyptian 10-year bonds are an \u201cextremely attractive\u201d option for investors looking for higher yields and duration return as the country begins to cut its short-term interest rates, Goldman Sachs Vice President for MENA economics research Farouk Soussa tells Bloomberg TV (<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2019-08-28\/goldman-recommends-10-year-local-egyptian-bonds-video\">watch, runtime: 4:58<\/a>). Soussa tells the news information service that Egypt\u2019s cooling inflation also means that real interest rates stand out among regional and emerging market peers. Investing in long-term bonds \u201ctends to be a bit more sticky, but the liquidity in the Egyptian market has improved to the extent that our clients are now able to trade in and out of those trades and it makes it much more attractive,\u201d he says.<\/p>\n<p><b>10-year yields fall 87 bps:<\/b> Average yields on 10-year treasuries fell to 14.682% in an auction yesterday, down from 15.551% in an auction earlier this month, CBE data shows. Yields on 10-years in the secondary market fell slightly to 15.36% yesterday, retaining Egypt\u2019s position as offering the second highest return on 10-year bonds in the world, after Turkey.<\/p>\n<p><b>Don\u2019t expect a mass exodus of portfolio investments from Egypt:<\/b> Soussa expects short-term interest rates to continue coming down, but says portfolio money is unlikely to \u201crush out of the Egyptian market.\u201d Instead, portfolio investments will stick around and \u201cmay even build up going forward,\u201d which will bode well for the EGP and could lead to further appreciation of the currency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egyptian 10-year bonds to remain \u201cextremely attractive\u201d as interest rates come down -Goldman Sachs: Egyptian 10-year bonds are an \u201cextremely attractive\u201d option for investors looking for higher yields and duration return as the country begins to cut its short-term interest rates, Goldman Sachs Vice President for MENA economics research Farouk Soussa tells Bloomberg TV (watch, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":596484,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[82,2082,72,260,349,3330,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-bonds","tag-carry-trade","tag-enterpriseam","tag-goldman-sachs","tag-interest-rates","tag-portfolio-investment","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"abc29ce6-6b26-4596-a36c-cb83e63f115e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/8\/1488.jpg","photo_position":"above","related_issue":[596478],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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That\u2019s the key takeaway in this piece by the Financial Times\u2019 Heba Saleh on the attractiveness of Egypt\u2019s debt. 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&quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/389.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573292,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/the-tides-are-turning-for-foreign-portfolio-investment-in-egypt-as-investors-return-to-favorite-carry-trade\/","url_meta":{"origin":596483,"position":4},"title":"The tides are turning for foreign portfolio investment in Egypt as investors return to \u201cfavorite\u201d carry trade","author":"enterpriseam admin","date":"28 July 2020","format":false,"excerpt":"The tides are turning for foreign portfolio investment in Egypt as investors return to \u201cfavorite\u201d carry trade: Foreign holdings of Egyptian sovereign debt rose to USD 10.6 bn by the end of June, and the first two weeks of July saw another USD 3 bn of inflows to local debt,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574667,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/17\/interest-rate-cuts-wont-dent-investors-enthusiasm-for-egypt-goldman\/","url_meta":{"origin":596483,"position":5},"title":"Interest rate cuts won\u2019t dent investors\u2019 enthusiasm for Egypt -Goldman","author":"enterpriseam admin","date":"17 September 2020","format":false,"excerpt":"EGP to stay strong, interest rate cuts won\u2019t dent carry trade enthusiasm for Egypt -Goldman: Bulge Bracket stalwart Goldman Sachs sounds optimistic about Egypt, writing in a recent report picked up by the local press that improved hard currency inflows will see a stable EGP \u2014 and predicting that an\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed 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