Day 2, how we do!
Sale period for the FXD1/2020/5Yr closes today. Please make sure your bids are submitted in good time. The CBK’s cut-off time for receiving bids is 2.00 P.M. There are no changes to my expectations and as a quick reminder, below is how I see it playing out:
- FXD1/2020/5Yr (3.4 years): average of 11.05% - 11.15%, with the cut-off to come in 15 - 20bps away from the average.
I have attached inflation data for December 2021, where the overall year on year inflation came in at 5.73%.
Below is a snapshot of what is at play within the secondary market. Happy hunting and wishing you the best with this auction!
|
|
| Indicative Two-Way Quotes - Benchmark Tenors |
| Benchmark Tenor |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| 1Yr |
9.20 |
8.80 |
0.00 |
| 2Yr |
10.30 |
10.00 |
0.00 |
| 5yr |
11.50 |
11.35 |
0.00 |
| 10yr |
12.70 |
12.55 |
0.00 |
| 15yr |
13.00 |
12.80 |
0.00 |
| 20yr |
13.50 |
13.30 |
0.00 |
| 25yr |
13.70 |
13.60 |
0.00 |
|
|
| Indicative Two-Way Quotes - IFB Series |
| IFB series |
Maturity |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| IFB1/2017/7
(IFB13)
|
Nov-24 |
9.90 |
9.50 |
0.00 |
IFB1/2016/9
(IFB10) |
May-25 |
10.00 |
9.60 |
0.00 |
IFB1/2015/12
(IFB8) |
Mar-27 |
10.00 |
9.35 |
0.00 |
IFB1/2017/12
(IFB12) |
Feb-29 |
10.80 |
10.60 |
0.00 |
IFB1/2016/15
(IFB11) |
Oct-31 |
11.40 |
11.20 |
0.00 |
IFB1/2018/15
(IFB14) |
Jan-33 |
12.20 |
11.80 |
0.00 |
XIFB1/2018/20
(IFB15) |
Oct-38 |
12.00 |
11.80 |
0.00 |
IFB1/2019/25
(IFB16) |
Feb-44 |
12.50 |
12.15 |
0.00 |
IFB1/2019/16
(IFB17) |
Oct-35 |
12.40 |
12.10 |
0.00 |
IFB1/2020/9
(IFB18) |
Apr-29 |
11.10 |
10.90 |
0.00 |
IFB1/2020/6
(IFB19) |
May-26 |
10.00 |
9.70 |
0.00 |
IFB1/2020/11
(IFB20) |
Aug-31 |
12.00 |
11.70 |
0.00 |
IFB1/2021/16
(IFB21) |
Jan-37 |
12.30 |
12.20 |
0.00 |
IFB1/2021/18
(IFB22) |
Mar-39 |
12.45 |
12.25 |
0.00 |
IFB1/2021/21
(IFB23) |
Aug-42 |
12.55 |
12.45 |
0.00 |
|
|
| Key Interest Rates |
|
Mov (bps) |
| O/N Interbank |
4.5790% |
-37.31 |
| 91 Day T-bill |
7.271% |
0.70 |
| 182 Day T-bill |
8.095% |
11.30 |
| 364 Day T-bill |
9.367% |
10.20 |
| Inflation |
5.73% |
-7.00 |
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