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View this email in your browser Liquid Friday   After a poor showing in the T-bond auction plus the recent poor showing in the T-bill auctions in the recent weeks, yesterday’s T-bill auction was surprisingly oversubscribed. The market placed bids totaling KES 26.397Bn with the CBK accepting KES 19.058Bn. Bids were heavily skewed towards the shorter dated bills as T-bill yield curve continues to flatten. Attached are the T-bill results in full for your perusal.    For your secondary market activities, 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 13.40 13.00 -0.05 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 5.1145% -8.87 91 Day T-bill 9.036% 8.40 182 Day T-bill 9.639% 0.80 364 Day T-bill 9.905% 0.00 Inflation 9.18% 65.00   Bond Positions Available Today T-Bill Auction Results Bond Prospectus - October 2022 Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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