Shilling Strength Bolstering Debt View

BMI View: The Ugandan shilling is testing long-term resistance on the back of tight monetary policy and consequent lack of domestic liquidity, and the next several days of trading will be crucial for our view on local debt. The recent rally has already had positive implications for our position on the 91-day T-Bill, which has posted more than 6% in gains since initiation less than one month ago.

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