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View this email in your browser Christmas Eve   Tis the most wonderful time of the year. Merry Christmas to you and yours!  It was not a very merry time for the CBK at the T-bill auction as they only managed to lock in KES 6.375Bn, well short of their KES 24Bn target. This was however expected as the CBK had to inject KES 52.034Bn via 7-day reverse repos during Wednesday’s trading session to offer support to majority of banks who lacked liquidity. Attached are the results of the T-bill auction for your perusal. Before we break off for the Christmas weekend, below is a snapshot of the secondary bond space and what is available for your consideration. Happy hunting, and again, Merry Christmas.    Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 9.20 8.80 0.00 2Yr 10.05 9.90 0.08 5yr 11.40 11.30 0.05 10yr 12.70 12.55 0.00 15yr 13.00 12.80 0.00 20yr 13.50 13.30 0.00 25yr 13.70 13.60 0.00   Indicative Two-Way Quotes - IFB Series IFB series Maturity Bid (%) Offer (%) Mov (t-t0)% IFB1/2017/7 (IFB13) Nov-24 9.90 9.50 0.00 IFB1/2016/9 (IFB10) May-25 10.00 9.60 0.00 IFB1/2015/12 (IFB8) Mar-27 10.00 9.35 0.00 IFB1/2017/12 (IFB12) Feb-29 10.80 10.60 0.00 IFB1/2016/15 (IFB11) Oct-31 11.40 11.20 0.00 IFB1/2018/15 (IFB14) Jan-33 12.25 11.90 0.00 XIFB1/2018/20 (IFB15) Oct-38 12.00 11.80 0.00 IFB1/2019/25 (IFB16) Feb-44 12.50 12.15 0.00 IFB1/2019/16 (IFB17) Oct-35 12.40 12.10 0.00 IFB1/2020/9 (IFB18) Apr-29 11.00 10.80 0.00 IFB1/2020/6 (IFB19) May-26 10.00 9.70 0.00 IFB1/2020/11 (IFB20) Aug-31 12.10 11.70 0.10 IFB1/2021/16 (IFB21) Jan-37 12.45 12.20 0.00 IFB1/2021/18 (IFB22) Mar-39 12.45 12.20 0.00 IFB1/2021/21 (IFB23) Aug-42 12.55 12.45 0.00   Key  Interest Rates   Mov (bps) O/N Interbank 5.6532% 8.80 91 Day T-bill 7.264% -0.10 182 Day T-bill 7.982% 0.50 364 Day T-bill 9.265% 10.10 Inflation 5.80% -65.00   Bond Positions Available Today T-Bill Auction Results Bond Auction Prospectus- January 2022 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 © 2021 Bespoke Securities Limited, All Rights Reserved.

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