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View this email in your browser Post-Tap Feels   A very successful outing for the Central Bank as the market showed a lot of interest for the FXD1/2023/5Yr & FXD1/2024/10Yr Tap Sale. Bids totaling KES 47.788Bn were submitted and the Central Bank gladly accepted all, going over and above their KES 25Bn target. There were no changes in the T-bill auction. Maturities continue to determine the interest shown and the Central Bank maintained the 17% cap on rates. Attached are both sets of results for any other information that you may require. For your trading activities for the day ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and weekending! Below are the two-way quotes for the benchmark tenors:   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 18.15 17.85 0.00 2Yr 18.30 18.00 0.00 5yr 18.65 18.35 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 16.75 16.65 -0.02 IFB1/2024/8.5 (IFB31) Aug-32 16.80 16.65 0.00     Key Interest Rates   Mov (bps) O/N Interbank 13.7808% -4.67 91 Day T-bill 16.7243% -0.47 182 Day T-bill 16.8738% -1.39 364 Day T-bill 16.9898% -0.01 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, the April 2024 TAP Sale results and the FXD1/2023/2Yr (Re-opened) Bond Auction Prospectus. Bond Positions T-bill Auction Results April 2024 TAP Sale 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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