{"id":599984,"date":"2019-01-16T05:03:09","date_gmt":"2019-01-16T05:03:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/16\/egypt-treasuries-are-once-again-competitive-to-carry-traders\/"},"modified":"2019-01-16T05:03:09","modified_gmt":"2019-01-16T05:03:09","slug":"egypt-treasuries-are-once-again-competitive-to-carry-traders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/16\/egypt-treasuries-are-once-again-competitive-to-carry-traders\/","title":{"rendered":"Egypt treasuries are once again competitive to carry traders"},"content":{"rendered":"

<\/a> Treasury bond yields have fallen to their lowest levels in six months:<\/b> Average yields on 5- and 10-year treasury bonds auctioned by the central bank on Monday fell to their lowest since August and July, respectively, according to CBE data<\/a>. Average yields for the 5- and 10-year notes were 18.030%, down from 18.292% and 18.152% at the last auction two weeks ago.<\/p>\n

Still, yields have risen to the point where Egypt\u2019s treasuries are once again competitive<\/b>, some analysts say. Subscription rates in government debt auctions suggest investors\u2019 appetite has increased significantly and it seems likely that foreign investors are net buyers of T-bills for the first time since the parallel Central Bank of Egypt repatriation system was terminated<\/a>, Naeem Holdings said in a research note yesterday. On average, yields on T-bills dropped by 0.88bps since late December and subscription ratios rose 2.3x month-on-month in January, according to Naeem.<\/p>\n

The new bank treatment at play here? <\/b>Banks are also rushing in before the implementation of a new tax treatment<\/a> that would separately tax all income from investment in government debt, Pharos\u2019 Radwa El-Swaify tells us. Finance Ministry officials have previously said the tax treatment will only apply to treasuries bought after the measure goes into effect.<\/p>\n","protected":false},"excerpt":{"rendered":"

Treasury bond yields have fallen to their lowest levels in six months: Average yields on 5- and 10-year treasury bonds auctioned by the central bank on Monday fell to their lowest since August and July, respectively, according to CBE data. Average yields for the 5- and 10-year notes were 18.030%, down from 18.292% and 18.152% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[102,2082,72,2380,1041],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599984","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-capital-markets","tag-carry-trade","tag-enterpriseam","tag-speed-round","tag-treasuries","wpautop","entry"],"acf":{"mongo_id":"86c6f803-816a-4f8f-a3a9-af6f9211e943","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[599979],"teaser":"","voice_url":""},"yoast_head":"\nEgypt treasuries are once again competitive to carry traders - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/16\/egypt-treasuries-are-once-again-competitive-to-carry-traders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt treasuries are once again competitive to carry traders\" \/>\n<meta property=\"og:description\" content=\"Treasury bond yields have fallen to their lowest levels in six months: Average yields on 5- and 10-year treasury bonds auctioned by the central bank on Monday fell to their lowest since August and July, respectively, according to CBE data. 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