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View this email in your browser Finally Friday A subdued T-bill auction this week as the CBK managed to lock in KES 18.847Bn, a bit short of their KES 24Bn target. The recent massive subscriptions in T-bills has been due the amount of maturities that have been in play and the increased risk aversion shown by the market which has kept liquidity in the short dated space. 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 and enjoy the weekend ahead!   Below are the two-way quotes for the benchmark tenors:   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 11.00 10.50 0.00 2Yr 12.80 12.50 0.00 5yr 13.90 13.75 0.00 10yr 14.20 14.10 0.00 15yr 14.20 14.00 0.00 20yr 14.10 13.90 0.00 25yr 14.35 14.20 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 12.50 12.00 0.00 IFB1/2016/9 (IFB10) May-25 12.50 12.00 0.00 IFB1/2015/12 (IFB8) Mar-27 12.50 12.00 0.00 IFB1/2017/12 (IFB12) Feb-29 12.80 12.00 0.00 IFB1/2016/15 (IFB11) Oct-31 13.20 12.70 0.00 IFB1/2018/15 (IFB14) Jan-33 13.60 13.20 0.00 IFB1/2018/20 (IFB15) Oct-38 13.80 13.50 0.00 IFB1/2019/25 (IFB16) Feb-44 14.00 12.90 0.00 IFB1/2019/16 (IFB17) Oct-35 13.70 13.50 0.00 IFB1/2020/9 (IFB18) Apr-29 13.20 12.70 0.00 IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 13.50 13.00 0.00 IFB1/2021/16 (IFB21) Jan-37 13.80 13.70 0.00 IFB1/2021/18 (IFB22) Mar-39 13.85 13.60 0.00 IFB1/2021/21 (IFB23) Aug-42 14.20 13.80 0.00 IFB1/2022/19 (IFB24) Jan-41 13.90 13.50 0.00 IFB1/2022/18 (IFB25) May-40 13.80 13.70 0.00 IFB1/2022/14 (IFB26) Oct-36 13.80 13.70 0.00 IFB1/2022/6 (IFB27) Nov-28 13.20 13.15 0.00     Key  Interest Rates   Mov (bps) O/N Interbank 6.4744% 9.23 91 Day T-bill 9.655% 3.20 182 Day T-bill 10.117% 3.80 364 Day T-bill 10.676% 3.80 Inflation 8.98% -8.00     Attached are the bond positions available today, the T-bill auction results for this week and the IFB1/2023/17Yr Bond Prospectus. Bond Positions Available Today IFB1/2023/17Yr Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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