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View this email in your browser Tap-Tap Wednesday   Here we go again good people, the CBK has announced a Tap Sale for the recently auctioned FXD1/2016/10Yr and FXD1/2023/5Yr in a bid to lock in KES 20Bn in new funding. Attached is the prospectus with all the required details to assist your bidding process. Away from this, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and tapping!   Below are the two-way quotes for the benchmark tenors:   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 12.65 12.25 0.00 2Yr 16.00 15.00 0.00 5yr 16.90 16.60 0.05 10yr 16.00 15.00 0.00 15yr 16.00 15.00 0.00 20yr 16.00 15.00 0.00 25yr 16.00 15.00 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 12.60 12.00 0.00 IFB1/2016/9 (IFB10) May-25 13.20 12.60 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 14.50 14.10 0.00 IFB1/2018/20 (IFB15) Oct-38 15.50 14.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 16.00 0.20 IFB1/2019/16 (IFB17) Oct-35 14.50 13.80 0.00 IFB1/2020/9 (IFB18) Apr-29 13.75 13.50 0.00 IFB1/2020/6 (IFB19) May-26 13.00 12.00 0.00 IFB1/2020/11 (IFB20) Aug-31 14.50 14.10 0.00 IFB1/2021/16 (IFB21) Jan-37 15.50 14.50 0.00 IFB1/2021/18 (IFB22) Mar-39 15.70 14.50 0.00 IFB1/2021/21 (IFB23) Aug-42 16.50 15.00 0.00 IFB1/2022/19 (IFB24) Jan-41 15.50 14.50 0.00 IFB1/2022/18 (IFB25) May-40 15.70 15.50 0.00 IFB1/2022/14 (IFB26) Oct-36 15.50 14.50 0.00 IFB1/2022/6 (IFB27) Nov-28 13.30 13.20 0.00 IFB1/2023/17 (IFB28) Feb-40 15.50 14.50 0.00 IFB1/2023/7 (IFB29) Jun-30 15.35 15.30 0.05   Key  Interest Rates   Mov (bps) O/N Interbank 8.9622% 18.21 91 Day T-bill 12.109% 9.50 182 Day T-bill 12.271% 7.20 364 Day T-bill 12.452% 20.20 Central Bank Rate (CBR) 10.50% 100.00 Inflation 7.90% -10.00       Attached are the bond positions available today and the July Tap-Sale Prospectus.   Bond Positions July Tap-Sale Prospectus Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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