Women’s Day
Wishing all the beautiful women in our lives the very best…for the men, spoil the women in your lives today in some way or the other.
Today is the end of the sale period of this month’s bond auction. For a final stab at predicting the outcome, below are my updated expectations:
- FXD1/2021/5Yr (4.7 years): average of 11.75% - 11.85% and the cut-off to be 10 – 15bps away
- FXD1/2020/15Yr (12.9 years): average of 13.25% - 13.35% and the cut off to be 15 – 20bps away
- FXD1/2021/25Yr (24.2 years): average of 13.90% - 13.99% and the cut-off to be 13.99%
Good luck with the auction ahead. For the rest of your plays, below is a snapshot of the secondary space with all that is available for your consideration. Happy bidding and hunting!
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| Indicative Two-Way Quotes - Benchmark Tenors |
| Benchmark Tenor |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| 1Yr |
9.90 |
9.70 |
0.00 |
| 2Yr |
10.55 |
10.20 |
0.00 |
| 5Yr |
11.90 |
11.35 |
0.00 |
| 10Yr |
12.90 |
12.60 |
0.00 |
| 15Yr |
13.20 |
13.00 |
0.00 |
| 20Yr |
13.80 |
13.70 |
0.00 |
| 25Yr |
14.00 |
13.70 |
0.00 |
|
|
| Indicative Two-Way Quotes - IFB Series |
| IFB series |
Maturity |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
IFB1/2017/7
(IFB13) |
Nov-24 |
10.00 |
9.50 |
0.00 |
IFB1/2016/9
(IFB10) |
May-25 |
10.00 |
9.60 |
0.00 |
IFB1/2015/12
(IFB8) |
Mar-27 |
10.00 |
9.50 |
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 |
12.25 |
11.90 |
0.00 |
IFB1/2018/20
(IFB15) |
Oct-38 |
12.90 |
12.30 |
0.70 |
IFB1/2019/25
(IFB16) |
Feb-44 |
13.00 |
12.50 |
0.40 |
IFB1/2019/16
(IFB17) |
Oct-35 |
12.60 |
12.20 |
0.15 |
IFB1/2020/9
(IFB18) |
Apr-29 |
11.30 |
11.00 |
0.00 |
IFB1/2020/6
(IFB19) |
May-26 |
10.50 |
10.00 |
0.35 |
IFB1/2020/11
(IFB20) |
Aug-31 |
12.50 |
12.20 |
0.20 |
IFB1/2021/16
(IFB21) |
Jan-37 |
12.50 |
12.30 |
0.05 |
IFB1/2021/18
(IFB22) |
Mar-39 |
12.75 |
12.30 |
0.10 |
IFB1/2021/21
(IFB23) |
Aug-42 |
12.80 |
12.65 |
0.00 |
IFB1/2022/19
(IFB24) |
Jan-41 |
13.05 |
12.95 |
0.00
|
|
|
| Key Interest Rates |
|
Mov (bps) |
| O/N Interbank |
N/A |
- |
| 91 Day T-bill |
7.265% |
1.10 |
| 182 Day T-bill |
8.063% |
0.10 |
| 364 Day T-bill |
9.774% |
1.00 |
| Inflation |
5.08% |
-31.00 |
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