The Central Bank has re-opened both the FXD1/2016/10Yr (1.8 years) and the FXD1/2022/10Yr (7.6 years) in a bid to raise KES 30Bn. The sale period ends tomorrow, 09-Oct-2024 and as promised, below are my expectations:

• FXD1/2016/10Yr (1.8 years): 16.90% - 17.40% range
• FXD1/2022/10Yr (7.6 years): 16.75% - 17.25% range
• Subscription: Expecting and oversubscription due to increased liquidity levels in the market. I expect interest to be skewed towards the shorter dated option, FXD1/2016/10Yr.

The Monetary Policy Committee (MPC) of the Central Bank will meet today and market expectations are that we will see a further cut in the Central Bank Rate (CBR).Expectations are crowding around the 50bp mark. I will share the outcome of this meeting and the decision reached once it is published. For your trading activities ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and bidding!

**Links to the attachments to be found below this note