Egypt's dollar bonds rally after Yellen signals support
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LONDON, Jan 10 (Reuters) - Egypt's sovereign dollar bonds rallied by more than 1.3 cents on Wednesday, Tradeweb data showed, after U.S. Treasury Secretary Janet Yellen pledged U.S. support for Egypt's economy and reforms.
All of the North African nation's dollar bonds rallied, with the March 2024 maturity bid at 98 cents on the dollar. But the longer-dated 2050 and 2059 maturities gained the most - rising as much as 1.4 cents - with the former approaching 62 cents on the dollar.
The debt-laden country is in talks to expand its $3 billion International Monetary Fund loan program. (Reporting By Libby George, editing by Karin Strohecker)
