Amazon Deals

New at Amazon

Monday, January 23, 2012

Spengler: Failed treasury auction portends Egyptian disaster

Investors bought less an a third of the 3.5 billion Egyptian pounds (US$580 million) worth of Treasury bills offered to the market on January 22, a red flag warning that Egypt's foreign exchange position is close to the brink.

Yields on Egyptian government debt maturing in nine months jumped to nearly 16%, but the government could not place its local-currency debt to Egyptian investors, even at that exorbitant rate. 

At Asia Times.

No comments:

Post a Comment