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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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maka wrote:Tokyo wrote:Now the challenge is how to pay through internet banking. Investors may instruct their commercial banks to remit payments on their behalf via RTGS indicating the following account holder’s details; account name, account number, issue number, reference number and amount payable. Any funds, which cannot be applied due to wrongly completed SWIFT messages, will be refunded to the bidder by the Central Bank of Kenya after reconciliation. It is just like a normal RTGS... Receiving bank is CBK Receiving account no is your virtual account no at CBK. On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no. Amount to be paid is exactly what is in your bond bidders report furthest right. Yes... Remember you can always bid... (for amounts above 20 Mn you HAVE to place a bid)... Hence why 45Billion was thrown by the auction management committee... Went in too high. possunt quia posse videntur
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Rank: Veteran Joined: 10/9/2006 Posts: 1,502
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maka wrote:Tokyo wrote:Now the challenge is how to pay through internet banking. Investors may instruct their commercial banks to remit payments on their behalf via RTGS indicating the following account holder’s details; account name, account number, issue number, reference number and amount payable. Any funds, which cannot be applied due to wrongly completed SWIFT messages, will be refunded to the bidder by the Central Bank of Kenya after reconciliation. It is just like a normal RTGS... Receiving bank is CBK Receiving account no is your virtual account no at CBK. On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no. Amount to be paid is exactly what is in your bond bidders report furthest right. Thanks. At least I paid on time. RTGS was not possible due to Max amount. My bank though remitted for me work to prosper
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Tokyo wrote:maka wrote:Tokyo wrote:Now the challenge is how to pay through internet banking. Investors may instruct their commercial banks to remit payments on their behalf via RTGS indicating the following account holder’s details; account name, account number, issue number, reference number and amount payable. Any funds, which cannot be applied due to wrongly completed SWIFT messages, will be refunded to the bidder by the Central Bank of Kenya after reconciliation. It is just like a normal RTGS... Receiving bank is CBK Receiving account no is your virtual account no at CBK. On the narration bit. Add your CDS acc no, Application no/ Ref no, Issue no. Amount to be paid is exactly what is in your bond bidders report furthest right. Thanks. At least I paid on time. RTGS was not possible due to Max amount. My bank though remitted for me Perfect... possunt quia posse videntur
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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In other news, Tbill rates are creeping upwards.
I am 75 year old veteran of CBK investing, having first started about 40 years ago.
At my age, I cannot invest in these 21 year bonds.
I am waiting for 2 to 5 year bonds, but these are very rare nowadays.
CBK should consider these shorter term bonds. A lot of people like myself would move from Tbills to these bonds, thus helping CBK to spread their borrowing to more than 91/182/364 days.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Is there not a secondary market for the 21 year bonds? You dont have to hold to maturity.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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My 2 cents wrote:Is there not a secondary market for the 21 year bonds? You dont have to hold to maturity. There is a secondary market for all the bonds issued by the govt... Plus corporate bonds. possunt quia posse videntur
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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MatataMingi wrote:In other news, Tbill rates are creeping upwards.
I am 75 year old veteran of CBK investing, having first started about 40 years ago.
At my age, I cannot invest in these 21 year bonds.
I am waiting for 2 to 5 year bonds, but these are very rare nowadays.
CBK should consider these shorter term bonds. A lot of people like myself would move from Tbills to these bonds, thus helping CBK to spread their borrowing to more than 91/182/364 days.
It is so easy selling a bond in the secondary market these days. You forego around 2- 2.5% by buying those shorter end bonds. If you look at the price list for the last few months the below 50 million section is flooded with small lots being sold. Retail activity has also increased many times over. I know someone who is almost your age and has packed a sizeable amount in longer tenor papers mostly IFBs. possunt quia posse videntur
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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@ maka. THANKS a lot. Much appreciated.
I have been just buying primary issues all this time,and holding them to maturity.
It would be GREAT if I could buy long term bonds and off load them when necessary. I could even buy bonds with 2 to 5 years left to maturity.
However, where do I find these offers? Is there a website that you can direct me to?
Thanks
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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MatataMingi wrote:@ maka. THANKS a lot. Much appreciated.
I have been just buying primary issues all this time,and holding them to maturity.
It would be GREAT if I could buy long term bonds and off load them when necessary. I could even buy bonds with 2 to 5 years left to maturity.
However, where do I find these offers? Is there a website that you can direct me to?
Thanks Remember we run an OTC market it is all about negotiation. If you have a broker ask them to share their flows with you then you can negotiate with them. At least the retail market has picked up nicely so many papers available... possunt quia posse videntur
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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maka wrote:MatataMingi wrote:@ maka. THANKS a lot. Much appreciated.
I have been just buying primary issues all this time,and holding them to maturity.
It would be GREAT if I could buy long term bonds and off load them when necessary. I could even buy bonds with 2 to 5 years left to maturity.
However, where do I find these offers? Is there a website that you can direct me to?
Thanks Remember we run an OTC market it is all about negotiation. If you have a broker ask them to share their flows with you then you can negotiate with them. At least the retail market has picked up nicely so many papers available... @ maka, I don't have a broker. Any recommendations? Thanks
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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MatataMingi wrote:maka wrote:MatataMingi wrote:@ maka. THANKS a lot. Much appreciated.
I have been just buying primary issues all this time,and holding them to maturity.
It would be GREAT if I could buy long term bonds and off load them when necessary. I could even buy bonds with 2 to 5 years left to maturity.
However, where do I find these offers? Is there a website that you can direct me to?
Thanks Remember we run an OTC market it is all about negotiation. If you have a broker ask them to share their flows with you then you can negotiate with them. At least the retail market has picked up nicely so many papers available... @ maka, I don't have a broker. Any recommendations? Thanks I use either AIB (AIB -AXYS) or Genghis Capital... Both have worked perfectly well for me in terms of execution and also getting order flows. Rem on your ATS registration you can appoint up to 5 different brokers. possunt quia posse videntur
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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maka wrote:MatataMingi wrote:maka wrote:MatataMingi wrote:@ maka. THANKS a lot. Much appreciated.
I have been just buying primary issues all this time,and holding them to maturity.
It would be GREAT if I could buy long term bonds and off load them when necessary. I could even buy bonds with 2 to 5 years left to maturity.
However, where do I find these offers? Is there a website that you can direct me to?
Thanks Remember we run an OTC market it is all about negotiation. If you have a broker ask them to share their flows with you then you can negotiate with them. At least the retail market has picked up nicely so many papers available... @ maka, I don't have a broker. Any recommendations? Thanks I use either AIB (AIB -AXYS) or Genghis Capital... Both have worked perfectly well for me in terms of execution and also getting order flows. Rem on your ATS registration you can appoint up to 5 different brokers. Once again, thanks a lot maka. Your assistance is highly appreciated. I will check out these brokers.
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Rank: Veteran Joined: 10/9/2006 Posts: 1,502
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Inflation higher than the current Treasury Bills on offer. work to prosper
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Tokyo wrote:Inflation higher than the current Treasury Bills on offer. Kitumbua kimeingia mchanga... Rates will have to shift upwards gradually... Guys will move from the 91 day and 182 day.... Lets wait and see what happens during the next auction. possunt quia posse videntur
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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In the meantime, there are some 15 year reopened Bonds on offer this month.
One of these has 6.4 years to maturity.
That will suit me quite well.
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