"Egyptian bonds gained for a second day, sending yields to the lowest level in five weeks, as $12 billion of aid pledges from the Persian Gulf eased concern that the army-backed government will struggle to revive the economy.
The yield on the government’s $1 billion of 5.75 percent notes declined 34 basis points to 8.4 percent at 4:43 p.m. in Cairo, the lowest on a closing basis since June 6, according to data compiled by Bloomberg. The yield dropped 69 basis points, or 0.69 percentage point, yesterday after Saudi Arabia, Kuwait and the United Arab Emirates offered the money in the form of grants, central bank deposits and petroleum products."
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