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View this email in your browser FurahaDay   The recent good showing in the T-bill auction has continued this week as the CBK received KES 34.577Bn in bids and accepted KES 30.755Bn. Even with the rejections, the CBK managed to comfortably surpass their KES 24Bn target. These results do indicate that there is liquidity in the market but that there is a sense of risk aversion from market players as the T-bond auctions this month have performed poorly as the T-bill auctions have performed well. Attached are the T-bill results for your perusal. Away from this, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and bidding!   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 10.20 10.00 0.00 2Yr 11.50 11.30 0.00 5Yr 12.50 12.35 0.00 10Yr 13.60 13.50 0.00 15Yr  13.90 13.75 0.00 20Yr 13.95 13.80 0.00 25Yr 13.95 13.80 0.00   Indicative Two-Way Quotes - IFB Series IFB Series Maturity Bid (%) Offer (%) Mov (t-t0)% IFB1/2017/7 Nov-24 11.60 11.00 0.00 IFB1/2016/9 May-25 11.50 11.20 0.00 IFB1/2015/12 Mar-27 12.00 11.75 0.00 IFB1/2017/12 Feb-29 12.00 11.00 0.00 IFB1/2016/15 Oct-31 13.50 13.00 0.00 IFB1/2018/15 Jan-33 13.10 12.80 0.00 IFB1/2018/20 Oct-38 13.80 13.00 0.00 IFB1/2019/25 Feb-44 13.50 12.90 0.00 IFB1/2019/16 Oct-35 13.80 13.00 0.00 IFB1/2020/9 Apr-29 11.40 11.25 0.00 IFB1/2020/6 May-26  11.75 11.00 0.00 IFB1/2020/11 Aug-31 13.75 13.00 0.00 IFB1/2021/16 Jan-37 13.50 12.90 0.00 IFB1/2021/18 Mar-39 13.80 13.00 0.00 IFB1/2021/21 Aug-42 13.80 13.70 0.00 IFB1/2022/19 Jan-41 13.80 13.50 0.00 IFB1/2022/18 May-40 13.70 13.65 0.00   Key Interest Rates   Mov (bps) O/N Interbank 5.3817% 5.78 91 Day T-bill 8.248% 8.10 182 Day T-bill 9.305% 5.20 364 Day T-bill 9.986% 0.60 Inflation 7.91% 81.00   Bond Positions Available Today T-Bill Auction Results Trade Now MATHANGANI KARIUKI Director | Bespoke Securities Director, Interest Rates | AKN Investments +254 (0) 732472655 Eikon Messenger:  mathanganik@bespokesecurities.co.ke View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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