Pre-Trading Thoughts

The CBE sold yesterday 3-years T-bonds worth EGP5 billion, more than the EGP4 billion originally targeted. Yields averaged 24.83%, lower than 24.98% in the last auction. The government is planning a 20% payment of international oil companies’ dues during June 2024. Current dues reached USD4.5 billion after the payment of USD1.5 billion last March. Egypt’s production of natural gas increased by 4.8% MoM to 4.49 bcf in March 2024. However, production decreased by 15% YoY. On the other ...