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View this email in your browser Happy 2024 2023 was tough for most markets as tightening was the name of the game all over the world. As we begin this new year, here is to your portfolios bringing you lots of profit. Happy New Year to you, yours and all you hold dear! To get the trading started, 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 end-of-2023 NSE Implied Yields for your perusal. Below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting this new year!   Below are the two-way quotes for the benchmark tenors:   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 16.25 16.00 0.00 2Yr 18.00 17.80 0.00 5yr 18.50 18.00 0.00 10yr 17.00 16.50 0.00 15yr 16.50 16.00 0.00 20yr 16.50 16.00 0.00 25yr 16.50 16.00 0.00   Below are details of the two-way quotes for the infrastructure bonds and the key rates:   Indicative Two-Way Quotes - IFB Series IFB series Maturity Bid (%) Offer (%) Mov (t-t0)% IFB1/2017/7 (IFB13) Nov-24 16.00 15.50 0.00 IFB1/2016/9 (IFB10) May-25 16.00 15.75 0.00 IFB1/2015/12 (IFB8) Mar-27 15.50 15.00 0.00 IFB1/2017/12 (IFB12) Feb-29 16.00 15.00 0.00 IFB1/2016/15 (IFB11) Oct-31 16.00 15.50 0.00 IFB1/2018/15 (IFB14) Jan-33 15.50 15.00 0.00 IFB1/2018/20 (IFB15) Oct-38 16.50 16.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 16.00 0.00 IFB1/2019/16 (IFB17) Oct-35 15.50 15.20 0.00 IFB1/2020/9 (IFB18) Apr-29 15.00 14.50 0.00 IFB1/2020/6 (IFB19) May-26 14.50 13.75 0.00 IFB1/2020/11 (IFB20) Aug-31 15.50 15.00 0.00 IFB1/2021/16 (IFB21) Jan-37 17.00 16.00 0.00 IFB1/2021/18 (IFB22) Mar-39 17.00 16.00 0.00 IFB1/2021/21 (IFB23) Aug-42 17.00 16.00 0.00 IFB1/2022/19 (IFB24) Jan-41 17.00 16.50 0.00 IFB1/2022/18 (IFB25) May-40 17.00 16.50 0.00 IFB1/2022/14 (IFB26) Oct-36 17.00 16.50 0.00 IFB1/2022/6 (IFB27) Nov-28 17.00 16.00 0.00 IFB1/2023/17 (IFB28) Feb-40 16.50 16.00 0.00 IFB1/2023/7 (IFB29) Jun-30 16.50 16.00 0.00 IFB1/2023/6.5 (IFB30) May-30 17.80 17.65 0.02   Key  Interest Rates   Mov (bps) O/N Interbank 14.3094% -13.00 91 Day T-bill 15.9829% 9.98 182 Day T-bill 15.9667% -0.48 364 Day T-bill 16.1000% 19.88 Central Bank Rate (CBR) 12.50% 200.00 Inflation 6.60% -20.00 Attached are the bond positions available today, the end-of-year NSE Implied Yields, Inflation Data for December 2023, final CBK Weekly report of 2023 and the January 2024 Bond Prospectus.   Bond Positions End-of-Year NSE Implied Yields Inflation Data for December 2023 CBK Weekly Report of 2023 January 2024 Bond Prospectus Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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