Yields on Egyptian debt could get higher: “In a world of negative rates and meager returns, Egypt is finding beggars are still choosers when it comes to its bond market,” Ahmed Namatalla and Ahmed Feteha write for Bloomberg. The yields on Egyptian treasuries are still rising and, as one strategist says, "we’re getting up to the territory where Egyptian yields start to get interesting, but we’re not there yet … We think yields have more room to increase.” Banque Misr’s head of treasury is puzzled, saying Egypt is guaranteeing a 5.5% return, in reference to the average yield on 12-month bills of about 11% after tax, which could come with call option that costs a premium of 5.25%. EGP valuation problems are still a concern for some foreign investors and are preventing the market from reaching the highs of the “mid 2000s when many foreigners liked the Egyptian T-Bill market."