The sale-period of the new 2Yr, FXD1/2023/2Yr, and the re-opened 5Yr, FXD1/2023/5Yr, closes tomorrow (16-Aug-2023) and bids must be submitted at the CBK by 10.00 A.M EAT. My expectations for this auction remain as follows:
FXD1/2023/2Yr: average between 17.25% – 17.35%
FXD1/2023/5Yr (4.9 years left): average between 17.85% - 17.95%
The bond prospectus is attached with all details required to submit your bids
For the day’s trading activities, 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
13.75
13.25
0.00
2Yr
17.00
16.00
0.00
5yr
17.20
16.90
0.00
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
15.00
14.75
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
15.00
0.20
IFB1/2022/6 (IFB27)
Nov-28
13.30
13.20
0.00
IFB1/2023/17 (IFB28)
Feb-40
15.70
15.00
0.00
IFB1/2023/7 (IFB29)
Jun-30
16.00
15.60
0.00
Key Interest Rates
Mov (bps)
O/N Interbank
9.1652%
11.16
91 Day T-bill
13.1104%
42.49
182 Day T-bill
13.4381%
88.02
364 Day T-bill
13.3402%
23.30
Central Bank Rate (CBR)
10.50%
0.00
Inflation
7.30%
-70.00
Attached are the bond positions available today and the bond auction prospectus for August 2023.
