Results Thursday
The auction results of the FXD1/2017/10Yr and the FXD1/2020/15Yr are attached and below is a quick summary of how things went:
- FXD1/2017/10Yr (4.9 years): average of 13.369% on the back of KES 14.109Bn in bids accepted out of KES 17.256Bn in bids received
- FXD1/2020/15Yr (12.3 years): average of 13.970% on the back of KES 1.006Bn in bids accepted out of KES 1.543Bn in bids received
- Subscription: Auction was significantly undersubscribed with only KES 18.800Bn in bids received, well short of the KES 40Bn target. The CBK accepted KES 15.116Bn of these bods received
Back to secondary market related matters, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
|
|
| Indicative Two-Way Quotes - Benchmark Tenors |
| Benchmark Tenor |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| 1Yr |
10.20 |
9.90 |
0.00 |
| 2Yr |
11.50 |
11.00 |
0.00 |
| 5Yr |
13.50 |
13.00 |
0.50 |
| 10Yr |
13.95 |
13.80 |
0.00 |
| 15Yr |
13.95 |
13.80 |
0.00 |
| 20Yr |
14.00 |
13.80 |
0.00 |
| 25Yr |
14.00 |
13.85 |
0.00 |
|
|
| Indicative Two-Way Quotes - IFB Series |
| IFB Series |
Maturity |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| IFB1/2017/7 |
Nov-24 |
11.75 |
11.30 |
0.00 |
| IFB1/2016/9 |
May-25 |
11.75 |
11.50 |
0.20 |
| IFB1/2015/12 |
Mar-27 |
12.20 |
12.00 |
0.00 |
| IFB1/2017/12 |
Feb-29 |
12.00 |
11.00 |
0.00 |
| IFB1/2016/15 |
Oct-31 |
13.20 |
12.70 |
0.00 |
| IFB1/2018/15 |
Jan-33 |
13.40 |
12.90 |
0.00 |
| IFB1/2018/20 |
Oct-38 |
13.50 |
13.00 |
0.00 |
| IFB1/2019/25 |
Feb-44 |
13.50 |
12.90 |
0.00 |
| IFB1/2019/16 |
Oct-35 |
13.50 |
13.00 |
0.00 |
| IFB1/2020/9 |
Apr-29 |
13.00 |
12.70 |
0.00 |
| IFB1/2020/6 |
May-26 |
11.75 |
11.00 |
0.00 |
| IFB1/2020/11 |
Aug-31 |
13.20 |
12.75 |
0.00 |
| IFB1/2021/16 |
Jan-37 |
13.30 |
13.00 |
0.00 |
| IFB1/2021/18 |
Mar-39 |
13.40 |
13.20 |
0.00 |
| IFB1/2021/21 |
Aug-42 |
13.55 |
13.30 |
0.00 |
| IFB1/2022/19 |
Jan-41 |
13.45 |
13.00 |
0.00 |
| IFB1/2022/18 |
May-40 |
13.50 |
13.30 |
0.00 |
|
|
| Key Interest Rates |
|
Mov (bps) |
| O/N Interbank |
5.2032% |
-19.00 |
| 91 Day T-bill |
8.952% |
0.10 |
| 182 Day T-bill |
9.631% |
0.60 |
| 364 Day T-bill |
9.905% |
-0.40 |
| Inflation |
9.18% |
65.00 |
|
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