Yields on Ugandan-shilling bonds have soared over 100 bps following tensions with the World Bank. Still, Absa Bank noted that as the central bank reduces interest rates and inflation diminishes, domestic investors might expect lower returns on government bonds, luring foreign investors, who currently hold 8% of Ugandan bonds, back into the market. Absa projects the 10Y yield to decline to 15.2% by the end of this quarter and reach 15% by year’s end.