Inflation data for September 2024 has been attached for your perusal. Overall year-on-year (annual) inflation rate as measured by the Consumer Price Index (CPI) was 3.6%, a drop of 80bps from August 2024. On the other hand, the infrastructure bond space has seen a rise in offshore participation within the secondary market and yields have dropped significantly due to this increased demand. Updates on the changes in pricing can be found in the pricelist provided.
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
16.80
16.50
0.00
2Yr
17.50
17.00
0.00
5yr
18.00
17.70
0.00
10yr
17.00
16.70
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
15.50
15.00
0.00
IFB1/2016/9 (IFB10)
May-25
16.00
15.00
0.00
IFB1/2015/12 (IFB8)
Mar-27
15.50
15.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
16.00
15.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
16.50
16.00
0.00
IFB1/2018/15 (IFB14)
Jan-33
16.50
16.00
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
16.50
16.20
0.00
IFB1/2020/9 (IFB18)
Apr-29
16.50
16.00
0.00
IFB1/2020/6 (IFB19)
May-26
16.50
16.00
0.00
IFB1/2020/11 (IFB20)
Aug-31
17.00
16.00
0.00
IFB1/2021/16 (IFB21)
Jan-37
17.00
16.50
0.00
IFB1/2021/18 (IFB22)
Mar-39
17.10
16.50
0.00
IFB1/2021/21 (IFB23)
Aug-42
17.20
16.50
0.00
IFB1/2022/19 (IFB24)
Jan-41
17.10
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
16.50
16.00
0.00
IFB1/2023/17 (IFB28)
Feb-40
16.40
16.00
0.05
IFB1/2023/7 (IFB29)
Jun-30
15.85
15.55
0.10
IFB1/2023/6.5 (IFB30)
May-30
15.80
15.50
0.10
IFB1/2024/8.5 (IFB31)
Aug-32
15.85
15.60
0.07
Key Interest Rates
Mov (bps)
O/N Interbank
12.8175%
-0.40
91 Day T-bill
15.7183%
-2.80
182 Day T-bill
16.5888%
-2.69
364 Day T-bill
16.7999%
-1.32
Central Bank Rate (CBR)
12.75%
-25.00
Inflation
3.60%
-80.00
Below are the links to the Bond positions available today, Inflation data for September 2024 and October’s bond auction prospectus.
