The Clap:
According to Bloomberg, the value of government bonds in USD increased after it was announced that Ahmed Kouchouk would lead the Finance Ministry with support of business executives and former bankers in important ministries.
Statistics:
Egypt’s USD-denominated bonds set for maturity in 2049 reached their highest level since the EGP was floated in March, with Egyptian securities making up 14 of the top 20 performers on the Bloomberg Emerging Markets Sovereign Total Return Index. Contracts denominated in EGP for 12 months also performed well, registering their largest increases since the end of April.
