Friday is Here
Have rates peaked? Investors in the T-bill space and the CBK seem to be signaling that this is the case. From the investors’ perspective, the hint of a shift in interest to the longer dated T-bills that we saw last week has now manifested. Interest in the 364D T-bill more than doubled each of the shorter T-bills as investors moved to lock in the current rates on offer for a longer duration. On the other hand, the CBK rejected just over a third of the bids received as they signal to the market that they will mitigate the push for higher rates from investors. From the move to longer dated T-bills and CBK’s rejection of a significant portion of bids received, these results feed into the notion that rates may be reaching their peak.
To help you navigate the rest of the curve, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
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