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View this email in your browser Hi Friday The T-bill results from this week’s auction have been attached. Post the MPC rate hike, the bidding behavior of market participants has remained the same. Interest remains pegged to the maturities in play, while the bids placed remain heavily skewed towards the shortest T-bill, the 91D T-bill. Finally, the market continues to push for higher yields across the three T-bills. For your secondary activity as you conclude your work week, 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 16.25 15.75 0.00 2Yr 18.00 17.75 0.00 5yr 18.50 18.00 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 15.50 15.00 0.00 IFB1/2016/9 (IFB10) May-25 15.50 15.00 0.00 IFB1/2015/12 (IFB8) Mar-27 13.80 13.70 0.00 IFB1/2017/12 (IFB12) Feb-29 16.00 15.00 0.00 IFB1/2016/15 (IFB11) Oct-31 16.00 15.50 0.00 IFB1/2018/15 (IFB14) Jan-33 17.50 17.00 0.50 IFB1/2018/20 (IFB15) Oct-38 15.50 15.00 0.00 IFB1/2019/25 (IFB16) Feb-44 16.50 16.00 0.00 IFB1/2019/16 (IFB17) Oct-35 15.50 15.20 0.00 IFB1/2020/9 (IFB18) Apr-29 14.75 14.50 0.00 IFB1/2020/6 (IFB19) May-26 13.50 12.75 0.00 IFB1/2020/11 (IFB20) Aug-31 15.50 15.00 0.00 IFB1/2021/16 (IFB21) Jan-37 17.00 16.50 0.00 IFB1/2021/18 (IFB22) Mar-39 17.00 16.50 0.00 IFB1/2021/21 (IFB23) Aug-42 17.00 16.00 0.00 IFB1/2022/19 (IFB24) Jan-41 17.00 16.50 0.00 IFB1/2022/18 (IFB25) May-40 17.00 16.50 0.00 IFB1/2022/14 (IFB26) Oct-36 17.00 16.50 0.00 IFB1/2022/6 (IFB27) Nov-28 17.00 16.00 0.00 IFB1/2023/17 (IFB28) Feb-40 17.00 16.50 0.00 IFB1/2023/7 (IFB29) Jun-30 17.00 16.00 0.00 IFB1/2023/6.5 (IFB30) May-30 17.85 17.80 -0.02   Key  Interest Rates   Mov (bps) O/N Interbank 10.3347% -3.09 91 Day T-bill 15.6348% 10.55 182 Day T-bill 15.7487% 19.83 364 Day T-bill 15.7947% 6.81 Central Bank Rate (CBR) 12.50% 200.00 Inflation 6.80% -10.00   Attached are the bond positions available today and this week’s T-bill auction results. Bond Positions T-bill Auction Results Trade Now View Previous Market Updates Share Tweet Share Copyright © 2022 Bespoke Securities Limited, All Rights Reserved.

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