Big Auction Week –The CBK has on offer the IFB1/2023/7Yr as they seek KES 60bn from its sale. Below are my updated expectations for how the auction will play out:
For your trading activities for the day and week ahead, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries. The CBK FX reserves are now at USD 7.532Bn or 4.15 months of import cover. This brings the levels above the 4 month import cover level that the CBK is mandated to maintain.
To bring it all together, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and bidding!
Below are the two-way quotes for the benchmark tenors, two-way quotes for the infrastructure bonds and the key rates:
Attached are the bond positions available today, the NSE Implied Yields from last week, the CBK Weekly Report and the IFB1/2023/7Yr bond prospectus.