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View this email in your browser 50bps Up The Monetary Policy Committee (MPC) of the Central Bank met yesterday and decided to raise the Central Bank Rate (CBR) from 8.25% to 8.75%. The Committee concluded that there was scope for a tightening of the monetary policy as a result of inflationary pressures and global market volatility. For more information on this, attached is the MPC Statement for your perusal.  For even more colour on the MPC’s decision, here is a link to the CBK’s YouTube page where a link to the Governor’s press conference to begin at 11.00 a.m. is to be posted; https://www.youtube.com/@CentralBankofKenyaOfficial Away from the MPC and for the trading in store ahead, 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 10.25 9.90 0.00 2Yr 11.75 11.00 0.00 5yr 13.40 13.10 0.00 10yr 13.95 13.80 0.00 15yr 14.00 13.80 0.00 20yr 14.10 13.90 0.00 25yr 14.20 14.00 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 12.00 11.45 0.00 IFB1/2016/9 (IFB10) May-25 12.00 11.45 0.00 IFB1/2015/12 (IFB8) Mar-27 12.20 12.00 0.00 IFB1/2017/12 (IFB12) Feb-29 12.00 11.00 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 13.00 12.70 0.00 IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 13.20 12.80 0.00 IFB1/2021/16 (IFB21) Jan-37 13.75 13.50 0.00 IFB1/2021/18 (IFB22) Mar-39 13.85 13.20 0.00 IFB1/2021/21 (IFB23) Aug-42 14.00 13.30 0.00 IFB1/2022/19 (IFB24) Jan-41 13.90 13.30 0.00 IFB1/2022/18 (IFB25) May-40 13.80 13.45 0.00 IFB1/2022/14 (IFB26) Oct-36 13.95 13.85 0.00     Key  Interest Rates   Mov (bps) O/N Interbank 4.8312% 10.64 91 Day T-bill 9.191% 1.80 182 Day T-bill 9.721% 1.50 364 Day T-bill 10.181% -0.50 Inflation 9.59% 41.00     Attached are the bond positions available today, the MPC Press release Statement, the IFB1/2022/6Yr (switch-bond) prospectus, and the December bond auction prospectus. Bond Positions Available Today MPC Press Release Statement IFB1/2022/6Yr (switch-bond December Bond Auction Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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