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View this email in your browser MPC Wednesday   The Monetary Policy Committee (MPC) of the CBK meets today and we should have the outcome in the course of the day. In the market, there was an aggressive drop of 280bps in the overnight lending rate in yesterday’s trading session. The CBK, through reverse repos, has brought some much needed liquidity support in a bid to lower the cost of funding in the market.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 13.50 13.00 0.00 2Yr 16.00 15.00 0.00 5yr 17.20 16.90 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 15.00 14.75 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 15.00 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 15.50 15.00 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 15.60 0.05   Key  Interest Rates   Mov (bps) O/N Interbank 13.5058% -280.54 91 Day T-bill 12.6855% 45.25 182 Day T-bill 12.5579% 23.59 364 Day T-bill 13.1072% 39.92 Central Bank Rate (CBR) 10.50% 100.00 Inflation 7.30% -70.00   Attached are the bond positions available today and the bond auction prospectus for August 2023.   Bond Positions Bond Auction Prospectus for August 2023 Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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