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View this email in your browser Cool Down Friday The CBK received KES 22.604Bn in bids for this week’s T-bills, but after yesterday’s massive performance they were able to shoo away a large portion of these bids. The accepted bids amounted to KES 10.577Bn as the CBK looks to mitigate both the push for higher rates reduce their repayment burden. Attached are the results in full for your perusal. 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 11.75 11.25 0.00 2Yr 13.75 13.20 0.00 5yr 14.50 14.20 0.00 10yr 14.50 14.30 0.00 15yr 15.50 14.50 0.00 20yr 16.00 14.50 0.00 25yr 16.00 14.50 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 13.20 12.70 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 16.00 14.00 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 15.50 14.50 0.00 IFB1/2021/21 (IFB23) Aug-42 15.50 14.50 0.00 IFB1/2022/19 (IFB24) Jan-41 15.50 14.50 0.00 IFB1/2022/18 (IFB25) May-40 15.50 14.50 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 14.50 0.00 IFB1/2023/7 (IFB29) Jun-30 15.90 15.70 0.05   Key  Interest Rates   Mov (bps) O/N Interbank 9.4245% 13.17 91 Day T-bill 11.640% 22.60 182 Day T-bill 11.649% 10.10 364 Day T-bill 11.734% 12.60 Central Bank Rate (CBR) 9.50% 0.00 Inflation 8.00% 10.00   Attached are the bond positions available today and this week’s T-bill auction results.   Bond Positions T-bill Auction Results Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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