09282016Wed
Last update: Wed, 28 Sep 2016 11am

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

South Africa CDS rise, bonds tumble on finance minister probe LONDON: South African bonds tumbled on Wednesday and debt insurance costs surged in the credit default swaps (CDS) market on news of a police probe into finance minister Pravin Gordhan who is popular with investors and business. Gordhan has been ordered to report to police in relation to a surveillance unit in the state tax service, the South African Treasury said on Tuesday. This raises fears for the country's credit rating which is at risk of being downgraded to junk.Gordhan and former officials at the South African Revenue Service (SARS) must report to the Hawks on Thursday morning where they will receive a 'warning statement' given to someone before they are charged with an offence, a source told Reuters .Markit data showed five-year CDS rising 12 basis points from Tuesday's close to 242 bps, the highest in three weeks. The CDS rose 6 bps on Tuesday after the news broke.Sovereign ...

Markets - Fixed Income - Middle East & Africa

Egypt T-bill yields mixed at Sunday's auction CAIRO: Yields on Egypt's three-month treasury bills dropped while yields on the nine-month bills rose at Sunday's auction, data from the central bank showed. The average yield on the 91-day bill dropped to 14.035 percent from 14.154 percent at the last auction on August 14. The 273-day bill rose to 15.969 percent from 15.889 percent at a similar auction a week ago. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Kenya 91-day T-bill yield rises to 8.541pc at auction NAIROBI: The weighted average yield on Kenya's 91-day Treasury bills rose to 8.541 percent at auction on Thursday from 8.349 percent last week, the central bank said. The bank offered bills worth 4 billion shillings ($39.46 million) and received bids worth 14 billion shillings. It accepted bids worth 11.55 billion shillings.The bank said it would offer 91-day, 182-day and 364-day bills worth 16 billion shillings next week. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Yields rise on Kenya's 182-day, 364-day T-bills NAIROBI: The weighted average yield on Kenya's 364-day Treasury bill rose to 11.684 percent from 11.405 percent at auction on Wednesday, while the yield on the 182-day bill climbed to 10.811 percent from 10.696 percent, the central bank said. It offered bills worth a total of 12 billion shillings ($118.34 million) and received bids worth 15.35 billion shillings, while accepting bids worth 10.60 billion shillings. The bank said it would offer 91-day, 182-day and 364-day ...

Markets - Fixed Income - Middle East & Africa

Yield on Uganda's two-year bonds climbs at auction KAMPALA: The yield on Uganda's two-year Treasury bonds rose at a central bank auction on Wednesday, while the rate on the five-year bond fell.The weighted average yield on the two-year bonds climbed to 16.625 percent from 15.858 percent at the last sale on May 18. The rate on the five-year notes edged down to 16.500 percent from 17.217 percent at the last auction on July 13. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Yields drop at Egypt T-bill auction CAIRO: Yields on Egypt's three-month and nine-month treasury bills edged down at Sunday's auction, data from the central bank website showed. The average yield on the 91-day bill dropped to 14.212 percent from 14.272 percent at the last auction on July 24. The 266-day bill also dropped to 15.653 percent from 15.752 percent at a similar auction a week ago. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Egypt cancels 1.5 and 3 year bond auctions, 7-year bond yields rise CAIRO: Egypt cancelled its 18-month and three-year bond auctions on Monday and yields on its seven-year bond rose, data from the central bank showed. The yields on the seven-year bond stood at 17.521 percent compared with 17.291 at the last similar sale, held on July 11. The central bank did not give a reason for the cancellations, but one banker said the bids submitted were likely considered too high. Yields on Egyptian government debt have ...