The structural picture behind today’s tape — pick an indicator to see its five-year path.
| Index | Level | Change |
|---|---|---|
| S&P 500 Worst day since Apr 2025; Fed hold + 3 dissenters spooked bond market | 7,316.15 | -1.52% |
| Dow Jones Fell 1,153 pts — worst single-day drop since Apr 2025 | 51,594.14 | -2.19% |
| Nasdaq Composite More than 10% off all-time high; chipmakers led losses | 24,442.94 | -1.74% |
| FTSE 100 Jul 28 close (Yahoo Finance delayed) | 10,900.22 | +0.27% |
| DAX Jul 28 close | 25,520.19 | +0.22% |
| CAC 40 Jul 28 close | 8,420.04 | -0.46% |
| Nikkei 225 Jul 28 close; chip-stock selloff extended from Wall Street | 61,434.19 | -1.49% |
| Hang Seng Jul 28 (Investrade morning preview) | 25,807 | +1.97% |
| Index | Level | Change |
|---|---|---|
| EGX 30 Jul 29 close; int'l investors were sole net sellers; YTD +28.2% | 53,627 | -0.19% |
| Instrument | Rate / Yield | Note |
|---|---|---|
| Policy corridor | ||
| Overnight deposit rate | 19.00% | Unchanged — MPC hold 9 Jul 2026 (3rd consecutive hold); -825bps from Apr 2025 easing cycle peak |
| Overnight lending rate | 20.00% | Unchanged — MPC hold 9 Jul 2026 |
| Main operation rate (corridor midpoint) | 19.50% | Unchanged — MPC hold 9 Jul 2026 |
| Discount rate | 19.50% | Unchanged — MPC hold 9 Jul 2026 |
| Treasury bills | ||
| 91-day | n/v | |
| 182-day | n/v | |
| 273-day | n/v | |
| 364-day | n/v | |
| Treasury bonds | ||
| 63-day floating T-Note (new instrument) | ~19.80% | First-ever 63-day T-Note; return = CBE corridor midpoint (19.5%) + 30bps; EGP 150bn issued 16 Jul 2026, matures 17 Sep 2026 |
| 3-year | n/v | |
| 5-year | n/v | |
| 10-year | n/v | |
| Rate | Level |
|---|---|
| United States | |
| Fed funds target on hold | 3.50–3.75% |
| SOFR (overnight) | 3.65% |
| 1-year UST | 4.04% |
| 2-year UST | 4.22% |
| 3-year UST | 4.29% |
| 5-year UST | 4.37% |
| 10-year UST | 4.67% |
| 30-year UST | 5.20% |
| Euro Area | |
| ECB deposit facility | 2.25% |
| ECB main refinancing | 2.40% |
| ECB marginal lending | 2.65% |
| €STR | 2.18% |
| United Kingdom | |
| BoE Bank Rate | n/v |
| SONIA overnight | n/v |
| 10-year Gilt yield | n/v |
| Pair | Rate | Change |
|---|---|---|
| USD / EGP | 50.69 | -1.11% |
| EUR / EGP | n/v | n/v |
| GBP / EGP | n/v | n/v |
| SAR / EGP | n/v | n/v |
| EUR / USD | n/v | n/v |
| GBP / USD | n/v | n/v |
| USD / JPY | n/v | n/v |
| Commodity | Price |
|---|---|
| Gold · XAU/USD 30 Jul 2026, up +0.36% d/d (TradingEconomics); rebounded from 9-month low of $3,975 mid-Jul after Fed hold; safe-haven bid on Iran strike escalation | ▲ $4,080.76 |
| Brent Crude · ICE 29 Jul 2026 (Forbes/TradingEconomics); surged +6.92% d/d after US military intercepted Iranian surprise attack on US forces; Brent 52-week high $120.88 (30 Apr 2026) | ▲ $89.43 |
| WTI Crude · NYMEX 29 Jul 2026 (TradingEconomics); +6.20% d/d; Iran-backed militias attacked Saudi Arabian oil facilities for second consecutive day | ▲ $84.18 |
| Natural Gas · Henry Hub | — n/v |
(29 Jul) The Federal Reserve voted 9-3 to keep the federal funds rate unchanged at 3.50–3.75%, marking the fifth consecutive hold. Dissenters Hammack, Kashkari, and Logan preferred a 25bp hike. The FOMC statement acknowledged the economy is 'expanding at a solid pace' but cited elevated Middle-East uncertainty. Bond markets reacted sharply — the 10-year Treasury yield jumped to 4.66% and the 30-year soared to 5.19%, while the Dow shed 1,153 points for its worst day since April 2025.
Read full article → Federal Reserve · CNBC · Fox Business(29 Jul) The US military said it had intercepted an Iranian surprise attack targeting US troops across the Middle East. Iran-backed militias simultaneously struck Saudi Arabian oil facilities in the Eastern Region for a second consecutive day. Brent crude surged to $89.43/bbl and WTI reached $84.18 — both up more than 6% on the day. The spike reignites inflation concerns that had briefly eased when Trump signalled talks with Iran a day earlier.
Read full article → TradingEconomics · CNBC · Bloomberg(29 Jul) The Dow Jones Industrial Average fell 1,153 points (-2.19%) to 51,594.14, the S&P 500 slid 1.52% to 7,316.15, and the Nasdaq Composite lost 1.74% to 24,442.94 — ending more than 10% below its all-time high. Semiconductor stocks extended their multi-day selloff driven by concerns over AI infrastructure spending; chip names including AMD, Micron and Sandisk dropped 8-14%. The Fed's hold-with-hawkish-dissent added further bond-market pressure.
Read full article → CNBC · Washington Post(30 Jul) Asian equity-index futures advanced and Asian shares rose for the first time in three sessions as the chip-led selloff showed early signs of easing. Bloomberg cited recovering US equity futures as the main driver, though longer-dated Treasuries remained under pressure given uncertainty about the Fed's policy outlook going into September.
Read full article → Bloomberg(29 Jul) Crude futures are up more than 20% for July as US–Iran hostilities escalate. The Fed's hold-with-hawkish-dissent has put a September rate hike firmly back on the table — CME FedWatch showed a 41.9% probability the Fed will hold again in September, up from 24% a day earlier, implying more than half the market now prices a September hike. Energy-driven inflation concerns are complicating the dual mandate across the US and emerging markets including Egypt.
Read full article → Fox Business · Kiplinger · CME FedWatchEgypt macro, the external accounts and the EGX listing pipeline in focus — sourced from economyplusme, CBE, IMF and Enterprise.
(9 Jul) The MPC kept the overnight deposit at 19%, overnight lending at 20%, main operation and discount both at 19.5% for the third consecutive meeting. The same day, the CBE issued Egypt's first-ever 63-day floating-rate Treasury Notes (EGP 150bn) linked to the corridor midpoint + 30bps (~19.8%), giving the Finance Ministry flexibility to benefit automatically from any future rate cuts.
Read full article → Egypt Today · EnterpriseAM · Zawya(8 Jul) The CBE reported provisional NIR of $55,072.3mn at end-June 2026, a record high. The strong reserve accumulation reflects robust remittance inflows ($43.1bn over 11 months), tourism receipts, and portfolio inflows attracted by Egypt's high-yield carry. Rising oil prices driven by US–Iran tensions are a near-term headwind for the energy import bill.
Read full article → CBE · The National(9 Jul) The CBE announced remittances from Egyptians working abroad reached $43.1bn for the eleven months July 2025–May 2026, a more than 30% year-on-year increase. Remittances remain Egypt's largest single source of foreign currency, underpinning FX stability and helping fund the current account deficit.
Read full article → CBE(9 Jul) Annual urban inflation fell to 14.3% in June from 14.6% in May, the third consecutive monthly decline and below market expectations of 15.1%. The largest basket component — food & beverages — slowed sharply to 5.4% from 7.6%. Housing and utilities bucked the trend, accelerating to 41.2% on higher electricity costs. CPI fell 0.4% month-on-month in June, the first monthly decline since July 2025.
Read full article → TradingEconomics · CBE CPI Press Release(Jul) A June 2026 staff-level agreement with the IMF could unlock approximately $1.6bn, extending the programme through December 2026. The 5th and 6th reviews were completed in February, enabling $2bn in disbursements. The IMF's 8th review is scheduled for 15 September, one week before the CBE's next MPC meeting on 24 September.
Read full article → The National · EnterpriseAM(Jul) Egypt Today reports a tranche payment under the EU's €5bn macro-financial assistance package has been made, with coordination by the Ministry of Foreign Affairs, International Cooperation and Egyptian Expatriates. The broader EU–Egypt partnership was formalised in March 2024 and includes budget support, investment and migration management components.
Read full article → Egypt Today(29 Jul) The EGX30 closed at 53,627 on turnover of EGP 11.0bn — 15.9% above the 90-day average. International investors were the sole net sellers amid global risk-off sentiment post-Fed. Top gainers were Heliopolis Housing (+3.1%), E-finance (+2.0%) and Eastern Company (+1.7%). The index is up 28.2% year-to-date and 55.5% over 12 months.
Read full article → EnterpriseAM(29 Jul) EnterpriseAM's lead story on 29 July: a proposed Real Estate Developers Federation aims to weed out undercapitalised players by ranking firms based on project capacity. Industry insiders warn the system could permanently entrench large incumbents unless clear scale-up pathways exist for smaller, serious entrants — a key concern ahead of the government's ongoing privatisation and housing IPO pipeline.
Read full article → EnterpriseAM(29 Jul) EnterpriseAM flagged an Eni FID on the Cronos gas development as a key market-moving corporate event. Cronos is a major deepwater gas discovery in the Mediterranean off Egypt's North Coast. An FID unlocks development capital and positions the project as a key contributor to Egypt's gas export ambitions and energy self-sufficiency goals.
Read full article → EnterpriseAM(29 Jul) EnterpriseAM flagged that ALCN has raised its port handling fees, a move that could feed into trade costs and inflation for import-dependent sectors. ALCN is one of Egypt's largest port operators at Alexandria — Egypt's primary commercial gateway handling over 60% of the country's trade volume.
Read full article → EnterpriseAM(12 Jul) The CBE published balance of payments data for July 2025–March 2026. The current account deficit narrowed to 4.2% of GDP, reflecting strong remittances, tourism receipts, and improved market confidence evidenced by successful external issuances and record nonresident inflows into local debt markets.
Read full article → CBE · IMF(29–30 Jul) Economists and The National warned that sustained oil above $89/bbl will intensify pressure on Egypt's energy import bill, particularly during peak summer demand. Egypt is a net energy importer (domestic production insufficient to cover consumption) and higher fuel costs risk reversing the CPI disinflation trend. CBE Governor Badra cautioned that elevated oil could make further rate cuts harder to justify.
Read full article → The National · TradingEconomics