It’s the accidental legislation issue again here, as the House of Representatives passed a series of key laws yesterday — some important, others controversial. They gave their approval on a law setting up Egypt’s first sovereign wealth fund and the Press and Media Acts. Expect future legislation issues this week as the House rushes to complete the laws on its plate in the current legislative term, which could be extended to August. The laws have guided the conversation on Egypt, both in the local and foreign press yesterday. We have more on those laws in the Speed Round below.

The House of Representatives has delayed discussions on the Madbouly Cabinet’s policy program till next week, Rep. Mahmoud Sherif, who chairs the committee tasked with reviewing the program, told Ahram Gate. Deliberations on the program were due to begin today. The committee has concluded its report, which gave a resounding approval for the program, and is recommending that a vote of confidence be given to the Madbouly Cabinet.

Long-term bond yields start dropping along with the short-term treasuries: Egypt’s long-term bond yields have begun to decline from their peak last week, following the drop witnessed in short-term bond yields this week. Yields on the 10-year bonds fell to 17.748% after peaking at 17.859% last week. Five-year yields were flat, rising marginally to 17.759% from 17.756% at the last sale, also on July 2, central bank data showed, according to Reuters. Analysts figure that last week’s record high yields indicated that carry traders and portfolio investors have lost interest in Egypt’s debt, in large part as a result of the wider emerging market sell-offs.

EM zombie apocalypse not as bad as widely thought? The rising USD is not really impacting emerging economies’ growth potential, Union Bancaire Privée’s Mathieu Nègre writes for Forbes Middle East. EM are still “benefiting from synchronised growth in the global economy, he argues, noting that the MSCI EM Index is down only 5% y-t-d, while World Index is up 3.5%. “That momentum provides a good opportunity to move back into this asset class,” he argues.