Advent
Something I only learnt this weekend even after attending a Catholic School for 12 Years is the existence of Advent. This is the period beginning four Sundays before Christmas and observed by most Christian denominations as a time of expectant waiting and preparation of the nativity of Christ at Christmas and the return of Christ at the second coming (https://en.wikipedia.org/wiki/Advent). For those of us who were unaware of advent, this period is the Christmas holiday season where getaways are booked and presents are bought while work begins to take a back seat. Thank you for attending my TED Talk.
In market related matters, attached is the CBK weekly report to assist in your reading of the market and updated benchmark Yield Curve levels are to be found on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the bonds.
Below is a snapshot of what is at play within the secondary market. Happy hunting!
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|
| Indicative Two-Way Quotes - Benchmark Tenors |
| Benchmark Tenor |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| 1Yr |
9.20 |
8.80 |
0.00 |
| 2Yr |
9.90 |
9.70 |
0.00 |
| 5yr |
11.25 |
11.20 |
0.00 |
| 10yr |
12.50 |
12.20 |
0.00 |
| 15yr |
13.00 |
12.80 |
0.00 |
| 20yr |
13.50 |
13.30 |
0.00 |
| 25yr |
13.75 |
13.65 |
0.00 |
|
|
| Indicative Two-Way Quotes - IFB Series |
| IFB series |
Maturity |
Bid (%) |
Offer (%) |
Mov (t-t0)% |
| IFB1/2017/7
(IFB13)
|
Nov-24 |
9.90 |
9.50 |
0.00 |
IFB1/2016/9
(IFB10) |
May-25 |
10.00 |
9.60 |
0.00 |
IFB1/2015/12
(IFB8) |
Mar-27 |
9.75 |
9.25 |
0.00 |
IFB1/2017/12
(IFB12) |
Feb-29 |
10.80 |
10.60 |
0.00 |
IFB1/2016/15
(IFB11) |
Oct-31 |
11.40 |
11.20 |
0.00 |
IFB1/2018/15
(IFB14) |
Jan-33 |
11.70 |
11.50 |
0.00 |
XIFB1/2018/20
(IFB15) |
Oct-38 |
12.00 |
11.80 |
0.00 |
IFB1/2019/25
(IFB16) |
Feb-44 |
12.50 |
12.15 |
0.00 |
IFB1/2019/16
(IFB17) |
Oct-35 |
12.35 |
12.10 |
0.00 |
IFB1/2020/9
(IFB18) |
Apr-29 |
11.20 |
11.00 |
0.00 |
IFB1/2020/6
(IFB19) |
May-26 |
9.75 |
9.25 |
0.00 |
IFB1/2020/11
(IFB20) |
Aug-31 |
11.55 |
11.40 |
0.00 |
IFB1/2021/16
(IFB21) |
Jan-37 |
12.40 |
12.10 |
0.00 |
IFB1/2021/18
(IFB22) |
Mar-39 |
12.45 |
12.20 |
0.00 |
IFB1/2021/21
(IFB23) |
Aug-42 |
12.65 |
12.55 |
0.00 |
|
|
| Key Interest Rates |
|
Mov (bps) |
| O/N Interbank |
5.3010% |
5.11 |
| 91 Day T-bill |
7.181% |
6.70 |
| 182 Day T-bill |
7.835% |
8.80 |
| 364 Day T-bill |
8.944% |
10.40 |
| Inflation |
6.45% |
-46.00 |
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