Another 100bp jump in the overnight lending rate as the liquidity crunch in the local market continues to bite. For your trading activities for the day and week ahead, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries. To bring it all together, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
Below are the two-way quotes for the benchmark tenors:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0)%
1Yr
13.00
12.50
0.00
2Yr
15.50
14.50
0.00
5yr
17.00
16.75
0.00
10yr
17.00
16.00
0.00
15yr
17.00
16.00
0.00
20yr
17.00
16.00
0.00
25yr
17.00
16.00
0.00
Below are details of the two-way quotes for the infrastructure bonds and the key rates:
Indicative Two-Way Quotes - IFB Series
IFB series
Maturity
Bid (%)
Offer (%)
Mov (t-t0)%
IFB1/2017/7 (IFB13)
Nov-24
12.60
12.00
0.00
IFB1/2016/9 (IFB10)
May-25
13.20
12.60
0.00
IFB1/2015/12 (IFB8)
Mar-27
13.30
13.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
13.80
13.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
14.00
13.00
0.00
IFB1/2018/15 (IFB14)
Jan-33
14.50
14.10
0.00
IFB1/2018/20 (IFB15)
Oct-38
15.50
14.00
0.00
IFB1/2019/25 (IFB16)
Feb-44
16.15
16.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
14.50
13.80
0.00
IFB1/2020/9 (IFB18)
Apr-29
13.75
13.50
0.00
IFB1/2020/6 (IFB19)
May-26
13.00
12.00
0.00
IFB1/2020/11 (IFB20)
Aug-31
14.50
14.10
0.00
IFB1/2021/16 (IFB21)
Jan-37
15.50
14.50
0.00
IFB1/2021/18 (IFB22)
Mar-39
15.70
14.50
0.00
IFB1/2021/21 (IFB23)
Aug-42
16.50
15.00
0.00
IFB1/2022/19 (IFB24)
Jan-41
15.50
14.50
0.00
IFB1/2022/18 (IFB25)
May-40
15.70
15.50
0.00
IFB1/2022/14 (IFB26)
Oct-36
15.50
14.50
0.00
IFB1/2022/6 (IFB27)
Nov-28
13.30
13.20
0.00
IFB1/2023/17 (IFB28)
Feb-40
15.50
15.00
0.00
IFB1/2023/7 (IFB29)
Jun-30
15.55
15.45
0.00
Key Interest Rates
Mov (bps)
O/N Interbank
16.5476%
63.96
91 Day T-bill
12.352%
11.90
182 Day T-bill
12.392%
7.00
364 Day T-bill
12.728%
2.00
Central Bank Rate (CBR)
10.50%
100.00
Inflation
7.30%
-70.00
Attached are the bond positions available today, inflation data for July 2023 and the bond auction prospectus for August 2023.
