Yields climb on 9-month Egyptian T-bills

CAIRO: Yields on nine-month Egyptian treasury bills rose at an auction on Sunday, Egypt's central bank said, while the yield on 91-day T-bills fell.

The average yield on 266-day treasury bills increased to 11.211 percent from 11.190 percent in an auction of 273-day bills last week, the central bank said, while the yield on 91-day T-bills decreased to 10.993 percent from 11.013 percent last week.

"The market is increasingly favouring shorter-dated securities. It seems the market isn't quite ready to start aggressively buying longer-dated securities," an Egyptian trader said.