Teachers’ Tuesday
The 5th of October is World Teachers’ Day or International teachers Day, a day set to focus on appreciating, assessing and improving the educators of the world. Teachers play a pivotal role and are often under-appreciated members of our society.
Back to market related matters, the sale-period of the bond auction closes today. Bids must be submitted at the CBK by 2.00PM EAT. No changes in my expectations but in case you missed out on the note yesterday, below are my expected levels:
- FXD1/2013/15Yr (6.4 years): 11.70% - 11.75% on the average and a cut-off of 10 - 15bps away from the average
- FXD3/2019/15Yr (12.9 years): 12.80% - 12.85% on the average and a cut-off of 10 - 15bps away from the average
- FXD1/2021/25Yr (24.7 years): 13.75% - 13.80% on the average and a cut-off of 15 - 20bps away from the average
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|
| Indicative Two-Way Quotes - Benchmark Tenors |
| Benchmark Tenor |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| 1Yr |
8.00 |
7.50 |
0.00 |
| 2Yr |
9.10 |
9.00 |
0.00 |
| 5yr |
11.20 |
11.00 |
0.00 |
| 10yr |
12.20 |
12.10 |
0.00 |
| 15yr |
12.90 |
12.65 |
0.00 |
| 20yr |
13.40 |
13.35 |
0.00 |
| 25yr |
13.55 |
13.45 |
0.00 |
|
|
| Indicative Two-Way Quotes - IFB Series |
| IFB series |
Maturity |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| IFB1/2017/7 (IFB13) |
Nov-24 |
9.20 |
8.75 |
0.00 |
| IFB1/2016/9 (IFB10) |
May-25 |
9.20 |
8.75 |
0.00 |
| IFB1/2015/12 (IFB8) |
Mar-27 |
9.50 |
9.00 |
0.00 |
| IFB1/2017/12 (IFB12) |
Feb-29 |
10.80 |
10.60 |
0.00 |
| IFB1/2016/15 (IFB11) |
Oct-31 |
11.10 |
10.95 |
0.00 |
| IFB1/2018/15 (IFB14) |
Jan-33 |
11.20 |
11.00 |
0.00 |
| IFB1/2018/20 (IFB15) |
Oct-38 |
12.00 |
11.70 |
0.00 |
| IFB1/2019/25 (IFB16) |
Feb-44 |
12.50 |
12.10 |
0.00 |
| IFB1/2019/16 (IFB17) |
Oct-35 |
12.00 |
11.75 |
0.00 |
| IFB1/2020/9 (IFB18) |
Apr-29 |
10.95 |
10.80 |
0.00 |
| IFB1/2020/6 (IFB19) |
May-26 |
9.30 |
9.00 |
0.00 |
| IFB1/2020/11 (IFB20) |
Aug-31 |
11.10 |
10.95 |
0.00 |
| IFB1/2021/16 (IFB21) |
Jan-37 |
12.00 |
11.90 |
0.00 |
| IFB1/2021/18 (IFB22) |
Mar-39 |
12.30 |
12.05 |
0.00 |
| IFB1/2021/21 (IFB23) |
Aug-42 |
12.55 |
12.50 |
0.08 |
|
|
| Key Interest Rates |
|
Mov (bps) |
| O/N Interbank |
6.6939% |
6.29 |
| 91 Day T-bill |
6.895% |
-1.10 |
| 182 Day T-bill |
7.282% |
0.00 |
| 364 Day T-bill |
7.949% |
5.90 |
| Inflation |
6.91% |
34.00 |
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