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View this email in your browser Friday Funday   Not too much fun in the market this week as liquidity levels continued to tighten with each passing day. The overnight lending rate (o/n rate) rose by more than 100bps each trading session and the T-bill auction was significantly undersubscribed. Attached are the underwhelming T-bill results in full for your perusal. Away from this, 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 13.00 12.50 0.00 2Yr 15.50 14.50 0.00 5yr 17.00 16.75 0.00 10yr 17.00 16.00 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 12.60 12.00 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 16.15 16.00 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 15.70 14.50 0.00 IFB1/2021/21 (IFB23) Aug-42 16.50 15.00 0.00 IFB1/2022/19 (IFB24) Jan-41 15.50 14.50 0.00 IFB1/2022/18 (IFB25) May-40 15.70 15.50 0.00 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 15.00 0.00 IFB1/2023/7 (IFB29) Jun-30 15.55 15.45 0.00   Key  Interest Rates   Mov (bps) O/N Interbank 14.8402% 131.57 91 Day T-bill 12.352% 11.90 182 Day T-bill 12.392% 7.00 364 Day T-bill 12.728% 2.00 Central Bank Rate (CBR) 10.50% 100.00 Inflation 7.90% -10.00   Attached are the bond positions available today and the T-bill auction results for this week.   Bond Positions 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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