Egypt’s three and nine-month t-bill yields fall in weekly auction

Yields on Egypt’s three- and nine-month Treasury bills fell at an auction on Sunday, data from the central bank showed.

Yields on the 91-day bill dropped to an average of 17.744 percent from 18.028 percent the last time similar bills were sold.

Yields on the 266-day bill declined to an average of 17.610 percent from 18.715 percent at the last similar auction.

Bank of America Merrill Lynch recommended in a recent report that investors buy 6-month Egyptian T-bills without hedging them.