Yields on Uganda's 2-year and 15-year bonds rise

KAMPALA: Yields on Uganda's new two-year and re-opened 15-year Treasury bonds rose at Wednesday's auction in which a total of 180 billion shillings ($62.61 million) worth of debt was on offer.

The weighted average yield on the 2-year bond rose to 16.684 percent from 16.175 percent at their last sale on Jan. 28.

The 15-year bond rates rose to 17.407 percent from 15.946 percent when the notes were last sold on December 3.

The rise on the two tenors mirrors a recent trend which analysts say is driven by investor worries about a possible surge in government spending ahead of a general election due early next year.