Pre-Trading Thoughts

Egypt is rejoining JPMorgan’s Emerging Markets Bond Index (EMBI) today, Finance Minister said, which could potentially bring new passive flows into EGP-denominated debt. Egyptian bonds will have an estimated weighting of 1.8% in the index. Egypt will also become a constituent of JPMorgan’s green bond index with a weighting of 1.2%, he said. Local Egyptian debt will not be listed on Euroclear until 2H2022 due to an unresolved “technical issue” between the government and the clearinghous...