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Yields on Egypt’s T-bills rise for second week

Published: Updated:

Yields on Egyptian treasury bills climbed at an auction on Sunday, their second weekly rise since security forces broke up a sit-in of supporters of deposed Islamist President Mohammad Mursi.

The average yield on 91-day treasury bills increased to11.613 percent from 11.444 percent at last week’s auction, the central bank said.

The yield on 273-day treasury bills rose to 12.672 percent from 12.413 percent at the August 18 auction.

The central bank sold 2 billion Egyptian pounds ($286m) of the 91-day bills and 4 billion pounds of the 273-day bills, the amounts it had asked for.

More than 900 people were killed, including 100 security officials, when the pro-Mursi sit-ins were dispersed on August 14 and in subsequent protests.

“The instability has definitely affected sentiment,” said one fixed-income trader.

The yield on the three-month bills was 11.261 percent at the August 1l auction, while that on the nine-month bills was 12.386, the trader said.