What Do Egyptian Bonds Know That Stocks Don't?

Presented with little comment aside to note that Egypt's 2020 bond yields are up 42bps today to a record 10.65%, the 5Y CDS has surged to 925bps and yet the last few days have seen egyptian equity markets jump almost 10%. Is the thinly-traded local market being driven by US ETF-driven news-algo flows or is it all going to be ok after all?


Credit/Bond markets in Egypt are extremely worried - but not stocks...


and the EGPT ETF...


Charts: Bloomberg


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