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Egypt’s bond market, already red hot, could get even hotter (Archana Narayanan, Bloomberg, Al Jazeera)

Egypt’s red-hot bond market has made it a favorite of emerging-market investors, and they’re counting on another year of big gains.

JPMorgan Chase & Co. will add Egypt – which has $26 billion of eligible government bonds – to a group of indexes this month, setting the market up to receive an influx of cash from passive money managers. Investors have already been enticed by Egypt’s hefty interest rates, which rank as the highest in the world after adjusting for inflation.

Egypt’s bond market, already red hot, could get even hotter | Business and Economy News | Al Jazeera