February’s bond rally fades as 10-year yield jumps 100 basis points

What the report says

© Wikimedia Commons Uganda’s treasury bond market delivered a complicated verdict at the Bank of Uganda‘s April auction, with yields rising across all three tenors from their February lows while an extraordinary surge in demand for 10-year paper exposed a widening gap between what investors want and what the government is prepared to pay. The auction, held on 15 April, reopened the same 3-year, 10-year, and 20-year b