The Tap Sale for both the FXD1/2023/5Yr and the FXD1/2024/10Yr closes today at 2.00PM. Attached is the prospectus for any additional you may require. The Monetary Policy Committee (MPC) of the Central Bank met yesterday and the following is a quick summary of the decision made. The MPC noted that its previous measures have lowered inflation, addressed the exchange rate pressures, and anchored inflationary expectations. The Committee further noted that overall inflation is expected to continue declining in the near term, supported by lower food and fuel prices, and pass-through effects of the recent exchange rate appreciation. Therefore, the MPC concluded that the current monetary policy stance will ensure that overall inflation continues to decline towards the 5.0% mid-point of the target range, and thus decided to retain the Central Bank Rate (CBR) at 13.00%. Kindly note that this summary is copy-pasted from the attached MPC Statement, in case you were wondering why I am sounding so academic. In addition to the statement attached, the CBK governor is hosting a press briefing and here is a link to the livestream for your viewing pleasure: https://www.youtube.com/watch?v=_RkuXYM5GDU
For your trading activities for the day ahead, 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:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0) %
1Yr
18.15
17.85
0.00
2Yr
18.30
18.00
0.00
5yr
18.65
18.35
0.00
10yr
16.50
16.00
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
15.75
15.50
0.00
IFB1/2016/9 (IFB10)
May-25
15.85
15.75
0.00
IFB1/2015/12 (IFB8)
Mar-27
14.50
14.00
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
17.50
17.20
0.00
IFB1/2020/6 (IFB19)
May-26
17.50
17.10
0.00
IFB1/2020/11 (IFB20)
Aug-31
17.50
17.20
0.00
IFB1/2021/16 (IFB21)
Jan-37
17.00
16.50
0.00
IFB1/2021/18 (IFB22)
Mar-39
17.00
16.50
0.00
IFB1/2021/21 (IFB23)
Aug-42
17.00
16.50
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
17.50
17.20
0.00
IFB1/2023/17 (IFB28)
Feb-40
16.50
16.00
0.00
IFB1/2023/7 (IFB29)
Jun-30
16.90
16.20
0.00
IFB1/2023/6.5 (IFB30)
May-30
16.80
16.65
-0.02
IFB1/2024/8.5 (IFB31)
Aug-32
16.80
16.65
0.00
Key Interest Rates
Mov (bps)
O/N Interbank
13.8275%
7.69
91 Day T-bill
16.7290%
-0.16
182 Day T-bill
16.8877%
-2.60
364 Day T-bill
16.9899%
0.09
Central Bank Rate (CBR)
13.00%
0.00
Inflation
5.70%
-60.00
Attached are the bond positions available today, the MPC Press Statement and the primary bond auction prospectus for April 2024.
