Egypt's dollar bonds rose to their highest levels in two years on Tuesday, with investors expecting that the visit of Saudi Crown Prince Mohammed bin Salman would translate into new investments pumped into the most populous Arab country, according to what was reported by Eqtisad Al-Sharq.
Long-term bond prices rose more than 1.5 cents on the dollar, and bonds maturing in 2061, 2059 and 2051 were among the best performing bonds in emerging markets.
This came after local media reported that deals worth billions of dollars were likely to be announced. Egypt's state-run Middle East News Agency reported that President Abdel Fattah El-Sisi and the Crown Prince will discuss a range of matters. There has been no official confirmation about potential investments.
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