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View this email in your browser One More Day   The sale period for the IFB1/2023/6.5Yr closes tomorrow at 10.00 AM EAT. Below are my expectations for how this paper will perform: Average: Average between 17.75% – 17.85% Subscription: Oversubscription expected as liquidity improves Away from this, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!   Below are the two-way quotes for the benchmark tenors:   Indicative Two-Way Quotes - Benchmark Tenors Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)% 1Yr 15.40 15.10 0.00 2Yr 17.60 17.40 0.00 5yr 18.00 17.80 0.00 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 13.50 13.00 0.00 IFB1/2016/9 (IFB10) May-25 13.50 13.00 0.00 IFB1/2015/12 (IFB8) Mar-27 13.75 13.25 0.00 IFB1/2017/12 (IFB12) Feb-29 16.50 16.00 -0.25 IFB1/2016/15 (IFB11) Oct-31 16.50 16.00 -0.25 IFB1/2018/15 (IFB14) Jan-33 15.10 14.90 0.00 IFB1/2018/20 (IFB15) Oct-38 16.00 15.50 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 15.75 0.00 IFB1/2019/16 (IFB17) Oct-35 15.50 15.00 0.00 IFB1/2020/9 (IFB18) Apr-29 15.00 14.50 0.00 IFB1/2020/6 (IFB19) May-26 13.50 12.75 0.00 IFB1/2020/11 (IFB20) Aug-31 16.50 16.00 0.00 IFB1/2021/16 (IFB21) Jan-37 16.00 15.50 0.00 IFB1/2021/18 (IFB22) Mar-39 16.50 16.00 0.00 IFB1/2021/21 (IFB23) Aug-42 16.70 16.00 0.15 IFB1/2022/19 (IFB24) Jan-41 16.50 16.00 0.00 IFB1/2022/18 (IFB25) May-40 16.50 15.50 0.00 IFB1/2022/14 (IFB26) Oct-36 16.60 16.00 0.00 IFB1/2022/6 (IFB27) Nov-28 14.65 14.35 0.00 IFB1/2023/17 (IFB28) Feb-40 16.00 15.50 0.00 IFB1/2023/7 (IFB29) Jun-30 16.20 15.90 0.00   Key  Interest Rates   Mov (bps) O/N Interbank 11.9902% -10.02 91 Day T-bill 15.1863% 7.51 182 Day T-bill 15.2714% 14.25 364 Day T-bill 15.4391% 5.24 Central Bank Rate (CBR) 10.50% 0.00 Inflation 6.90% 10.00     Attached are the bond positions available today and the bond prospectus for November 2023.   Bond Positions Bond Prospectus for November 2023 Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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