We are officially getting into Christmas season, and for the party people amongst us, we are officially approaching Drinks-cember!
To get things going, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries. The T-bill auction results from last week and November’s bond auction prospectus have also been attached for your reference. To bring it all together, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!
**Links to the attachments are below the note
Below are the two-way quotes for the benchmark tenors:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0)%
1Yr
15.60
15.30
-0.30
2Yr
15.80
15.60
-0.20
5yr
16.50
16.00
-0.15
10yr
17.00
16.50
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
15.00
14.00
0.00
IFB1/2016/9 (IFB10)
May-25
15.00
14.00
0.00
IFB1/2015/12 (IFB8)
Mar-27
15.50
15.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
15.50
15.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
15.50
14.90
0.00
IFB1/2018/15 (IFB14)
Jan-33
15.80
15.00
0.00
IFB1/2018/20 (IFB15)
Oct-38
16.00
15.50
0.00
IFB1/2019/25 (IFB16)
Feb-44
16.20
16.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
16.00
15.20
0.00
IFB1/2020/9 (IFB18)
Apr-29
15.50
15.00
0.00
IFB1/2020/6 (IFB19)
May-26
15.50
15.00
0.00
IFB1/2020/11 (IFB20)
Aug-31
15.60
15.00
0.00
IFB1/2021/16 (IFB21)
Jan-37
16.00
16.30
0.00
IFB1/2021/18 (IFB22)
Mar-39
16.00
15.70
0.00
IFB1/2021/21 (IFB23)
Aug-42
16.50
16.00
0.00
IFB1/2022/19 (IFB24)
Jan-41
16.00
15.70
0.00
IFB1/2022/18 (IFB25)
May-40
16.00
15.70
0.00
IFB1/2022/14 (IFB26)
Oct-36
16.00
15.70
0.00
IFB1/2022/6 (IFB27)
Nov-28
15.50
15.00
0.00
IFB1/2023/17 (IFB28)
Feb-40
15.50
15.00
0.00
IFB1/2023/7 (IFB29)
Jun-30
15.40
15.00
0.00
IFB1/2023/6.5 (IFB30)
May-30
15.40
15.00
0.00
IFB1/2024/8.5 (IFB31)
Aug-32
15.40
15.00
0.00
Key Interest Rates
Mov (bps)
O/N Interbank
11.9692%
-0.46
91 Day T-bill
14.4321%
-33.37
182 Day T-bill
15.1467%
-48.98
364 Day T-bill
15.4691%
-44.24
Central Bank Rate (CBR)
12.00%
-75.00
Inflation
3.60%
-80.00
Below are the links to the Bond positions available today, the NSE Implied Yields, the CBK Weekly Report, T-bill auction results (last week’s) and the November 2024 bond auction prospectus.
