As the country continues to celebrate Diwali and a new Deputy President is set to be sworn in today, we have been gifted a public holiday to allow all this celebrating to take place efficiently. Inflation numbers for October 2024 are with us and the KNBS has released this data in a modified format. I think the fact that inflation has dropped significantly to 2.7%, the KNBS has decided to spruce up their format with additional information. The T-bill results have also been attached for your perusal and you will see that the rates across the three T-bills continue to plummet as the Central Bank continues to reject a significant portion of bids received. Away from all the celebrating, below is a snapshot of what is at play within the secondary market for your consideration. No hunting today so please enjoy the weekend ahead!
Below are the two-way quotes for the benchmark tenors:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0)%
1Yr
15.20
14.80
-0.30
2Yr
15.50
15.20
-0.20
5yr
16.50
16.00
-0.15
10yr
17.00
16.50
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
14.50
14.00
0.00
IFB1/2016/9 (IFB10)
May-25
14.50
14.00
0.00
IFB1/2015/12 (IFB8)
Mar-27
14.70
14.30
0.00
IFB1/2017/12 (IFB12)
Feb-29
14.90
14.50
0.00
IFB1/2016/15 (IFB11)
Oct-31
14.90
14.60
0.00
IFB1/2018/15 (IFB14)
Jan-33
15.00
14.70
0.00
IFB1/2018/20 (IFB15)
Oct-38
15.20
14.90
0.00
IFB1/2019/25 (IFB16)
Feb-44
15.50
15.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
15.30
14.75
0.00
IFB1/2020/9 (IFB18)
Apr-29
15.00
14.70
0.00
IFB1/2020/6 (IFB19)
May-26
15.00
14.50
0.00
IFB1/2020/11 (IFB20)
Aug-31
15.00
14.70
0.00
IFB1/2021/16 (IFB21)
Jan-37
15.20
14.80
0.00
IFB1/2021/18 (IFB22)
Mar-39
15.30
14.80
0.00
IFB1/2021/21 (IFB23)
Aug-42
15.50
15.00
0.00
IFB1/2022/19 (IFB24)
Jan-41
15.50
15.00
0.00
IFB1/2022/18 (IFB25)
May-40
15.30
14.80
0.00
IFB1/2022/14 (IFB26)
Oct-36
15.30
14.80
0.00
IFB1/2022/6 (IFB27)
Nov-28
14.70
14.30
0.00
IFB1/2023/17 (IFB28)
Feb-40
15.00
14.70
0.00
IFB1/2023/7 (IFB29)
Jun-30
14.90
14.50
0.00
IFB1/2023/6.5 (IFB30)
May-30
14.80
14.50
0.00
IFB1/2024/8.5 (IFB31)
Aug-32
14.90
14.50
0.00
Key Interest Rates
Mov (bps)
O/N Interbank
12.1031%
12.60
91 Day T-bill
13.9656%
-46.65
182 Day T-bill
14.5233%
-62.34
364 Day T-bill
14.9684%
-50.07
Central Bank Rate (CBR)
12.00%
-75.00
Inflation
2.70%
-90.00
Below are the links to the Bond positions available today, this week’s T-bill auction results, inflation data for October 2024 (3 attachments) and the November 2024 bond auction prospectus.
