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View this email in your browser Down-Low Friday   Significant drops in the rates of both the 91D (less 99.13bps) and the 364D (less 45.88bps) in the oversubscribed T-bill auction this week. We have not seen a significant drop in rates in the T-bill space and this therefore serves as the first…maybe the first of more to come? Attached are the results in full for your perusal. For the rest of your trading activities, 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 17.50 17.10 0.00 2Yr 18.30 18.00 0.00 5yr 18.50 18.00 0.00 10yr 16.50 16.00 0.00 15yr 16.50 16.00 0.00 20yr 16.50 16.00 0.00 25yr 16.50 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 15.75 15.50 0.00 IFB1/2016/9 (IFB10) May-25 15.85 15.75 0.00 IFB1/2015/12 (IFB8) Mar-27 14.50 14.00 0.00 IFB1/2017/12 (IFB12) Feb-29 16.00 15.00 0.00 IFB1/2016/15 (IFB11) Oct-31 16.00 15.50 0.00 IFB1/2018/15 (IFB14) Jan-33 15.50 15.00 0.00 IFB1/2018/20 (IFB15) Oct-38 16.50 16.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 16.00 0.00 IFB1/2019/16 (IFB17) Oct-35 15.50 15.20 0.00 IFB1/2020/9 (IFB18) Apr-29 17.50 17.20 0.00 IFB1/2020/6 (IFB19) May-26 17.50 17.10 0.00 IFB1/2020/11 (IFB20) Aug-31 17.50 17.20 0.00 IFB1/2021/16 (IFB21) Jan-37 16.50 16.00 0.00 IFB1/2021/18 (IFB22) Mar-39 17.00 16.50 0.00 IFB1/2021/21 (IFB23) Aug-42 17.00 16.50 0.00 IFB1/2022/19 (IFB24) Jan-41 17.00 16.50 0.00 IFB1/2022/18 (IFB25) May-40 17.00 16.50 0.00 IFB1/2022/14 (IFB26) Oct-36 17.00 16.50 0.00 IFB1/2022/6 (IFB27) Nov-28 17.50 17.20 0.00 IFB1/2023/17 (IFB28) Feb-40 16.50 16.00 0.00 IFB1/2023/7 (IFB29) Jun-30 16.90 16.20 0.00 IFB1/2023/6.5 (IFB30) May-30 16.70 16.50 -0.07 IFB1/2024/8.5 (IFB31) Aug-32 16.70 16.55 -0.07     Key  Interest Rates   Mov (bps) O/N Interbank 13.4510% 5.06 91 Day T-bill 15.7330% -99.13 182 Day T-bill 16.8684% -0.54 364 Day T-bill 16.5310% -45.88 Central Bank Rate (CBR) 13.00% 0.00 Inflation 5.70% -60.00   Attached are the bond positions available today, this week’s T-bill auction results and the FXD1/2023/2Yr (Re-opened) Bond Auction Prospectus.   Bond Positions T-bill Auction Results FXD1/2023/2Yr (Re-opened) Bond Auction Prospectus Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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