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Treasury Bills and Bonds
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maka
#261 Posted : Monday, October 17, 2016 2:08:52 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Expected to come in at 13.20 -13.50....IFB 11
possunt quia posse videntur
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Liv
#262 Posted : Monday, October 17, 2016 3:42:13 PM
Rank: Veteran

Joined: 11/14/2006
Posts: 1,311
maka wrote:
Expected to come in at 13.20 -13.50....IFB 11


My goodness.....why would you expect it to be that high?
I would expect to be 12.25-12.50 quoted yield..... Why do you think the market will be that aggressive?
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  | | Edit by user: Monday, October 17, 2016 3:44 PM | Reason: Not specified
MatataMingi
#263 Posted : Monday, October 17, 2016 4:03:11 PM
Rank: Member

Joined: 11/17/2009
Posts: 399
Location: Where everyone knows you
maka wrote:
Expected to come in at 13.20 -13.50....IFB 11


@Maka,
What is IFB 11.
The one on offer at the moment is IFB/1/2016/15 with a coupon of 12%.
I don't like anything over 5 years and prefer 2 year bonds.

I might go for 1 million, as this will be fully redeemed in 5 years.
I wonder when the next 2 year bond will be offered. Maybe next month or December. The last ones were in January and May. About time I think

Regards
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Impunity
#264 Posted : Monday, October 17, 2016 4:03:47 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Liv wrote:
maka wrote:
Expected to come in at 13.20 -13.50....IFB 11


My goodness.....why would you expect it to be that high?
I would expect to be 12.25-12.50 quoted yield..... Why do you think the market will be that aggressive?


Si I thought it was fixed at 12%?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Liv
#265 Posted : Monday, October 17, 2016 4:58:53 PM
Rank: Veteran

Joined: 11/14/2006
Posts: 1,311
Impunity wrote:
Liv wrote:
maka wrote:
Expected to come in at 13.20 -13.50....IFB 11


My goodness.....why would you expect it to be that high?
I would expect to be 12.25-12.50 quoted yield..... Why do you think the market will be that aggressive?


Si I thought it was fixed at 12%?



The coupon rate is fixed at 12%. But depending on how the market players will bid, there will be a derived quoted yield .... If the average bid accepted by CBK will be at discount the quoted yield will be higher than the coupon rate. E.g. If CBK asks you to pay Shs 99,500 for a Shs 100,000 bond amount, the quoted yield will be 12.06% after a discount of Shs 500 or 0.5%.
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  | | Edit by user: Monday, October 17, 2016 5:00 PM | Reason: Not specified
Angelica _ann
#266 Posted : Monday, October 17, 2016 5:00:23 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Liv wrote:
Impunity wrote:
Liv wrote:
maka wrote:
Expected to come in at 13.20 -13.50....IFB 11


My goodness.....why would you expect it to be that high?
I would expect to be 12.25-12.50 quoted yield..... Why do you think the market will be that aggressive?


Si I thought it was fixed at 12%?



The coupon rate is fixed at 12%. But depending on how the market players will bid, there will be a derived quoted yield .... If the average bid accepted by CBK will be at discount the quoted yield will be higher than the coupon rate. E.g. If CBK asks you to pay Shs 99,500 for a Shs 100,000 bond amount, the quoted yield will be 12.06%

Avogadro Sad
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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maka
#267 Posted : Monday, October 17, 2016 5:17:20 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Angelica _ann wrote:
Liv wrote:
Impunity wrote:
Liv wrote:
maka wrote:
Expected to come in at 13.20 -13.50....IFB 11


My goodness.....why would you expect it to be that high?
I would expect to be 12.25-12.50 quoted yield..... Why do you think the market will be that aggressive?


Si I thought it was fixed at 12%?



The coupon rate is fixed at 12%. But depending on how the market players will bid, there will be a derived quoted yield .... If the average bid accepted by CBK will be at discount the quoted yield will be higher than the coupon rate. E.g. If CBK asks you to pay Shs 99,500 for a Shs 100,000 bond amount, the quoted yield will be 12.06%

Avogadro Sad


@Impuntiy unaniangusha its an auction guys throw in bids you can even quote 20% and miss properly thats why you should have a general idea where current rates are with that you tend to have a rough idea where the bids will fall...@I hereby revise my earlier prediction to 12.70 -13.20.smile
possunt quia posse videntur
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Liv
#268 Posted : Tuesday, October 18, 2016 10:00:41 AM
Rank: Veteran

Joined: 11/14/2006
Posts: 1,311
@Maka,
On what basis 12.70 - 13.20?
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maka
#269 Posted : Tuesday, October 18, 2016 10:11:22 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Liv wrote:
@Maka,
On what basis 12.70 - 13.20?


Market Intel...
possunt quia posse videntur
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Intelligentsia
#270 Posted : Tuesday, October 18, 2016 10:32:02 AM
Rank: Elder

Joined: 10/1/2009
Posts: 2,436
@Maka, I thought this was a fixed coupon, no bidding?
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