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View this email in your browser Tap Closed   Happy tapping for the CBK as they managed to lock in KES 23.6Bn from the just concluded Tap-Sale, surpassing their KES 21Bn. The shorter bond, the FXD1/2023/2Yr, captured the lion’s share of the bids submitted as the market continues to favour shorter dated government securities. Attached are these results for your perusal. In the T-bill space, this week’s auction just fell short of the CBK’s KES 24Bn target as only KES 20.388Bn was locked in by the CBK from a total of KES 22.992Bn in bids received. The interest in the T-bills continues to be directly proportional to the incoming maturities.  Attached are the results for your perusal. For your trading activities for the day 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 14.25 13.75 0.50 2Yr 17.20 16.50 0.00 5yr 18.00 17.50 0.00 10yr 17.00 16.50 0.00 15yr 17.00 16.00 0.00 20yr 17.00 16.00 0.00 25yr 17.00 16.00 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 13.50 12.75 0.00 IFB1/2016/9 (IFB10) May-25 13.50 13.00 0.00 IFB1/2015/12 (IFB8) Mar-27 14.00 13.00 0.00 IFB1/2017/12 (IFB12) Feb-29 15.00 14.00 0.00 IFB1/2016/15 (IFB11) Oct-31 15.00 14.00 0.00 IFB1/2018/15 (IFB14) Jan-33 15.00 14.50 0.00 IFB1/2018/20 (IFB15) Oct-38 16.00 15.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 15.00 0.00 IFB1/2019/16 (IFB17) Oct-35 16.00 15.00 0.00 IFB1/2020/9 (IFB18) Apr-29 14.50 14.00 0.00 IFB1/2020/6 (IFB19) May-26 13.00 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 15.75 15.00 0.00 IFB1/2021/16 (IFB21) Jan-37 15.75 15.00 0.00 IFB1/2021/18 (IFB22) Mar-39 15.70 15.00 0.00 IFB1/2021/21 (IFB23) Aug-42 16.50 15.30 0.00 IFB1/2022/19 (IFB24) Jan-41 15.50 15.00 0.00 IFB1/2022/18 (IFB25) May-40 15.70 15.50 0.00 IFB1/2022/14 (IFB26) Oct-36 16.00 15.50 0.00 IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00 IFB1/2023/17 (IFB28) Feb-40 15.70 15.00 0.00 IFB1/2023/7 (IFB29) Jun-30 16.00 15.50 0.03   Key  Interest Rates   Mov (bps) O/N Interbank 11.9741% 13.74 91 Day T-bill 13.7332% 25.78 182 Day T-bill 13.4911% 21.53 364 Day T-bill 14.0140% 26.81 Central Bank Rate (CBR) 10.50% 0.00 Inflation 7.30% -70.00   Attached are the bond positions available today, the Tap-Sale results for the FXD1/2023/2Yr & FXD1/2023/5Yr and the T-bill auction results for this week.   Bond Positions FXD1/2023/2Yr & FXD1/2023/5Yr 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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