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View this email in your browser Results Time A quick summary of the results of this month’s bond auction: FXD1/2023/2Yr (1.9 years left): average of 17.4537%. KES 15.012Bn in bids accepted from a total of KES 18.014Bn in bids received. FXD1/2016/10Yr (2.9 years left): average of 17.9266%. KES 6.616Bn in bids accepted from a total of KES 15.994Bn in bids received. Subscription: KES 34.009Bn in bids received but the CBK only accepted a total of KES 21.628Bn. Attached are the results in full for your perusal. Away from this, 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 15.00 14.50 0.00 2Yr 17.50 17.00 0.50 5yr 18.00 17.50 0.10 10yr 17.00 16.50 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 13.50 12.75 0.00 IFB1/2016/9 (IFB10) May-25 13.50 13.00 0.00 IFB1/2015/12 (IFB8) Mar-27 14.00 13.00 0.00 IFB1/2017/12 (IFB12) Feb-29 15.00 14.00 0.00 IFB1/2016/15 (IFB11) Oct-31 15.00 14.00 0.00 IFB1/2018/15 (IFB14) Jan-33 15.00 14.50 0.00 IFB1/2018/20 (IFB15) Oct-38 16.00 15.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 15.00 0.00 IFB1/2019/16 (IFB17) Oct-35 16.00 15.00 0.00 IFB1/2020/9 (IFB18) Apr-29 14.50 14.00 0.00 IFB1/2020/6 (IFB19) May-26 13.00 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 15.75 15.00 0.00 IFB1/2021/16 (IFB21) Jan-37 15.75 15.00 0.00 IFB1/2021/18 (IFB22) Mar-39 15.70 15.00 0.00 IFB1/2021/21 (IFB23) Aug-42 16.50 15.30 0.00 IFB1/2022/19 (IFB24) Jan-41 15.50 15.00 0.00 IFB1/2022/18 (IFB25) May-40 15.70 15.50 0.00 IFB1/2022/14 (IFB26) Oct-36 16.00 15.50 0.00 IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00 IFB1/2023/17 (IFB28) Feb-40 16.00 15.50 -0.05 IFB1/2023/7 (IFB29) Jun-30 15.90 15.65 0.10   Key  Interest Rates   Mov (bps) O/N Interbank 12.0834% -21.52 91 Day T-bill 14.2337% 24.86 182 Day T-bill 14.3686% 42.98 364 Day T-bill 14.8603% 109.53 Central Bank Rate (CBR) 10.50% 0.00 Inflation 6.70% -60.00   Attached are the bond positions available today and the September 2023 bond auction results.   Bond Positions Bond Auction Results Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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