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T-bill advise
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Poilaq
#21 Posted : Friday, September 25, 2015 11:36:09 AM
Rank: Member

Joined: 10/6/2008
Posts: 21
Mkimwa wrote:
"The market weighted average rate was 18.362 %, and the weighted average of accepted bids which will be applied for non-competitive bids was 18.607% up from 14.486% in the previous auction. "

Did the CBK reject bids with lower rates, else how can the average of the accepted bids be higher that the marked weighted average rate?



This looks like a typo, the pdf document shows 18.632% as the market weighted average rate.
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Impunity
#22 Posted : Friday, September 25, 2015 3:57:57 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Poilaq wrote:
Mkimwa wrote:
"The market weighted average rate was 18.362 %, and the weighted average of accepted bids which will be applied for non-competitive bids was 18.607% up from 14.486% in the previous auction. "

Did the CBK reject bids with lower rates, else how can the average of the accepted bids be higher that the marked weighted average rate?



This looks like a typo, the pdf document shows 18.632% as the market weighted average rate.


Even nicer music to liquid guys like me.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Chaka
#23 Posted : Friday, September 25, 2015 4:09:23 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
Waiting to see how money market funds will react next week..
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jerry
#24 Posted : Friday, September 25, 2015 4:21:28 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
Impunity wrote:
Poilaq wrote:
Mkimwa wrote:
"The market weighted average rate was 18.362 %, and the weighted average of accepted bids which will be applied for non-competitive bids was 18.607% up from 14.486% in the previous auction. "

Did the CBK reject bids with lower rates, else how can the average of the accepted bids be higher that the marked weighted average rate?



This looks like a typo, the pdf document shows 18.632% as the market weighted average rate.


Even nicer music to liquid guys like me.

NSE can only go Southwards!
The opposite of courage is not cowardice, it's conformity.
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Mike Ock
#25 Posted : Friday, September 25, 2015 6:14:17 PM
Rank: Member

Joined: 1/22/2015
Posts: 682
Please educate me. So is this a good time to buy the T bills? People seem to be suggesting hoarding cash. Why? Or do you mean cashing out on stocks?
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Impunity
#26 Posted : Friday, September 25, 2015 6:50:28 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Mike Ock wrote:
Please educate me. So is this a good time to buy the T bills? People seem to be suggesting hoarding cash. Why? Or do you mean cashing out on stocks?


Its a catch 22 situation, you should sell Stocks now and buy T-Bills...but in a few weeks the stocks will be dirt cheap also also...so you should also be buying shares then.

Just balance, but which Commercial bank can give you 18% pa for 3 months interest rate on a meager saving like KES. 50,000?

d'oh! d'oh!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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snipermnoma
#27 Posted : Friday, September 25, 2015 8:21:36 PM
Rank: Member

Joined: 1/3/2014
Posts: 257
Impunity wrote:
Mike Ock wrote:
Please educate me. So is this a good time to buy the T bills? People seem to be suggesting hoarding cash. Why? Or do you mean cashing out on stocks?


Its a catch 22 situation, you should sell Stocks now and buy T-Bills...but in a few weeks the stocks will be dirt cheap also also...so you should also be buying shares then.

Just balance, but which Commercial bank can give you 18% pa for 3 months interest rate on a meager saving like KES. 50,000?

d'oh! d'oh!


@Mike Ock the suggestion is to cash out on stocks. Now once you have the cash as @impunity elaborated, it is a tricky balance between keeping cash or buying T-bills.
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alutacontinua
#28 Posted : Saturday, September 26, 2015 12:33:21 AM
Rank: Member

Joined: 3/23/2011
Posts: 304
I for one would really like to read the minutes of the meeting on September 8th between CBK and commercial banks. Talk of some filled bids at 22.5% on the 91 day T-bill today by some traders.

The shilling has been consolidating between 106 - 105 level after CBK intervention on the 8th then this article appears.......

http://www.businessdaily.../-/hjjjcwz/-/index.html







You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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alutacontinua
#29 Posted : Saturday, September 26, 2015 11:21:14 AM
Rank: Member

Joined: 3/23/2011
Posts: 304
There is something seriously wrong with the fundamentals in the country.....not seeing how one could justify high interest rates (15% plus) while inflation is at 5.8%. Ghana's inflation is at about 17% thus their interest rates are at about 25%.

Could anyone expound on the reasons for the deviations from fundamentals?
You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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hisah
#30 Posted : Saturday, September 26, 2015 12:58:10 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
alutacontinua wrote:
There is something seriously wrong with the fundamentals in the country.....not seeing how one could justify high interest rates (15% plus) while inflation is at 5.8%. Ghana's inflation is at about 17% thus their interest rates are at about 25%.

Could anyone expound on the reasons for the deviations from fundamentals?

I also don't understand this madness! This is now chaotic. This will crash the economy if sustained to the year end as recession pops up its ugly head.. Job losses, labour strikes, failed businesses, tax deficits, political stress etc. What's the point? Where is Kibaki?
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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