Egyptian shares fell the most in two weeks as the Arab country’s army chief urged the public to protest and give the military a mandate to combat violence that has escalated since President Mohamed Mursi was toppled.
Just when India’s biggest stimulus package in a decade was close to paying off, a cash crunch engineered by the central bank to shore up the rupee has pushed borrowing costs for leading companies back above 10 percent.
Egypt’s benchmark bonds fell, pushing the yield to a week high, after Islamists boycotted the transitional government and called for renewed protests. The country’s default risk advanced for a third day.
Islamist supporters of Egypt’s deposed President Mohamed Mursi clashed with security forces outside the Cabinet building in Cairo today after rejecting the new interim government and its offer of reconciliation talks.
Argentine bonds rallied the most in four months on speculation the International Monetary Fund is considering supporting Argentina in its request to have the U.S. Supreme Court review its case with defaulted bondholders.
Supporters of Egypt’s deposed Islamist President Mohamed Mursi held demonstrations in Cairo and other cities early today after rejecting the new interim government and its offer of reconciliation talks.