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View this email in your browser Waiting Wednesday   Liquidity seems to have improved this week as the overnight lending rate has come down in the last two trading sessions. The volumes borrowed have also been relatively low and hopefully the increased liquidity brings in some needed activity in the FI space. For those with some extra change to play around with, below is a snapshot of what is at play within the secondary market as we wait for the bond auction results. Happy hunting and good luck with the auction results!   Below are the two-way quotes for the benchmark tenors:   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 11.50 11.00 0.00 2Yr 13.50 13.10 0.00 5yr 14.00 13.65 0.00 10yr 14.30 14.10 0.00 15yr 14.60 14.30 0.00 20yr 14.75 14.30 0.00 25yr 14.75 14.50 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 13.20 12.70 0.00 IFB1/2016/9 (IFB10) May-25 13.20 13.00 0.00 IFB1/2015/12 (IFB8) Mar-27 13.30 13.00 0.00 IFB1/2017/12 (IFB12) Feb-29 13.80 13.00 0.00 IFB1/2016/15 (IFB11) Oct-31 14.00 13.00 0.00 IFB1/2018/15 (IFB14) Jan-33 14.20 13.80 0.00 IFB1/2018/20 (IFB15) Oct-38 14.40 14.00 0.00 IFB1/2019/25 (IFB16) Feb-44 14.50 14.00 0.00 IFB1/2019/16 (IFB17) Oct-35 14.20 13.80 0.00 IFB1/2020/9 (IFB18) Apr-29 13.20 12.70 0.00 IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 14.10 13.90 0.00 IFB1/2021/16 (IFB21) Jan-37 14.00 13.60 0.00 IFB1/2021/18 (IFB22) Mar-39 14.00 13.60 0.00 IFB1/2021/21 (IFB23) Aug-42 14.20 13.80 0.00 IFB1/2022/19 (IFB24) Jan-41 14.00 13.50 0.00 IFB1/2022/18 (IFB25) May-40 14.00 13.70 0.00 IFB1/2022/14 (IFB26) Oct-36 14.00 13.70 0.00 IFB1/2022/6 (IFB27) Nov-28 13.40 13.20 0.00 IFB1/2023/17 (IFB28) Feb-40 14.40 14.35 0.02   Key  Interest Rates   Mov (bps) O/N Interbank 9.6846% -3.50 91 Day T-bill 10.318% 4.30 182 Day T-bill 10.678% 16.70 364 Day T-bill 11.170% 4.60 Central Bank Rate (CBR) 9.50% 75.00 Inflation 7.90% -129.00   Attached are the bond positions available today.   Bond Positions Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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