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Bond Market News
Egypt’s Dollar Bonds Tick Higher
January 22, 2025
Egypt’s dollar bonds were among the top EM gainers yesterday, up by 1-1.5 points. As per Bloomberg news, the move is likely on the back of optimism that the nation will benefit from Donald Trump’s return as president and the ceasefire deal between Israel and Hamas. Egypt’s is also said to be a key geopolitical player given their President Abdel Fattah El-Sisi’s role as a mediator in the Gaza conflict. Some analysts also note that both Donald Trump and Sisi’s historically positive relationship should also help in conflict resolution and overall ties. Egypt’s dollar bonds have been trending higher with the nation expected to receive a $1.2bn disbursement from the IMF soon, as part of an $8bn program from the multilateral lender.
It 5.875% 2031s were up 1 point to trade at 85.5, yielding 9%.
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