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View this email in your browser Sirkal Monday   Gor Mahia, otherwise known as K’Ogalo, clinched their 20th Football Kenya League this weekend. This is the country’s most famous and colourful football team and a big congratulations goes out to them. Not to be left behind, the CBK also celebrated a successful Tap-Sale on the FXD1/2023/3Yr as they managed to lock in KES 18.56Bn, surpassing their KES 15Bn target. Attached are the results in full for your perusal. For your trading activities for the day and week ahead, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached price list. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries. To bring it all together, 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 11.75 11.25 0.00 2Yr 13.75 13.20 0.00 5yr 14.50 14.20 0.00 10yr 14.50 14.30 0.00 15yr 15.50 14.50 0.00 20yr 16.00 14.50 0.00 25yr 16.00 14.50 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 13.20 12.70 0.00 IFB1/2016/9 (IFB10) May-25 13.20 12.60 0.00 IFB1/2015/12 (IFB8) Mar-27 13.30 13.00 0.00 IFB1/2017/12 (IFB12) Feb-29 13.80 13.00 0.00 IFB1/2016/15 (IFB11) Oct-31 14.00 13.00 0.00 IFB1/2018/15 (IFB14) Jan-33 14.50 14.10 0.00 IFB1/2018/20 (IFB15) Oct-38 15.50 14.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.00 14.00 0.00 IFB1/2019/16 (IFB17) Oct-35 14.50 13.80 0.00 IFB1/2020/9 (IFB18) Apr-29 13.75 13.50 0.00 IFB1/2020/6 (IFB19) May-26 13.00 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 14.50 14.10 0.00 IFB1/2021/16 (IFB21) Jan-37 15.50 14.50 0.00 IFB1/2021/18 (IFB22) Mar-39 15.50 14.50 0.00 IFB1/2021/21 (IFB23) Aug-42 15.50 15.00 0.00 IFB1/2022/19 (IFB24) Jan-41 15.50 14.50 0.00 IFB1/2022/18 (IFB25) May-40 15.70 14.50 0.15 IFB1/2022/14 (IFB26) Oct-36 15.50 14.50 0.00 IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00 IFB1/2023/17 (IFB28) Feb-40 15.50 14.50 0.00 IFB1/2023/7 (IFB29) Jun-30 15.50 15.40 0.00   Key  Interest Rates   Mov (bps) O/N Interbank 9.9653% 11.17 91 Day T-bill 11.785% 14.50 182 Day T-bill 11.863% 21.40 364 Day T-bill 11.934% 20.00 Central Bank Rate (CBR) 9.50% 0.00 Inflation 8.00% 10.00   Attached are the bond positions available today, the NSE Implied Yields, the CBK Weekly Report and the FXD1/2023/3Yr Tap-Sale results.   Bond Positions NSE Implied Yields CBK Weekly Report FXD1/2023/3Yr Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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