Fixed Income Analysis /
Egypt

Egypt: Upgrade to Buy after selloff

  • Egyptian credit has underperformed in the recent selloff despite a relatively stable macro outlook

  • This was driven by capital outflow worries given large non-resident inflows to domestic government debt

  • Eurobonds now look attractive on a relative value basis; we upgrade from Hold to Buy

Egypt: Upgrade to Buy after selloff
Patrick Curran
Tellimer Research
20 October 2021
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