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78 Pages«<75767778>
Treasury Bills and Bonds
maka
#1521 Posted : Tuesday, September 14, 2021 7:15:30 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
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
maka
#1522 Posted : Tuesday, September 14, 2021 7:19:43 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
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
MatataMingi
#1523 Posted : Saturday, September 18, 2021 3:23:59 PM
Rank: Member


Joined: 11/17/2009
Posts: 364
Location: Where everyone knows you
@ 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
maka
#1524 Posted : Sunday, September 19, 2021 11:41:34 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
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
MatataMingi
#1525 Posted : Monday, September 20, 2021 3:46:41 PM
Rank: Member


Joined: 11/17/2009
Posts: 364
Location: Where everyone knows you
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
maka
#1526 Posted : Tuesday, September 21, 2021 7:29:11 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
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
MatataMingi
#1527 Posted : Tuesday, September 21, 2021 2:13:16 PM
Rank: Member


Joined: 11/17/2009
Posts: 364
Location: Where everyone knows you
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.
Tokyo
#1528 Posted : Friday, October 01, 2021 4:57:47 AM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,495
Inflation higher than the current Treasury Bills on offer.
work to prosper
maka
#1529 Posted : Friday, October 01, 2021 10:07:37 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
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
MatataMingi
#1530 Posted : Friday, October 01, 2021 10:37:13 AM
Rank: Member


Joined: 11/17/2009
Posts: 364
Location: Where everyone knows you
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.
maka
#1531 Posted : Friday, October 01, 2021 11:52:30 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
MatataMingi wrote:
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.


This is the implied yield for FXD 1.2013.15 as at end of last week the 24th .... It will roughly guide you how the paper will be priced during auction...


possunt quia posse videntur
maka
#1532 Posted : Friday, October 01, 2021 12:01:16 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
maka wrote:
MatataMingi wrote:
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.


This is the implied yield for FXD 1.2013.15 as at end of last week the 24th .... It will roughly guide you how the paper will be priced during auction...




This is how it might look in terms of pricing.... will probably go higher so there will be a discount for this.

possunt quia posse videntur
MatataMingi
#1533 Posted : Saturday, October 02, 2021 10:01:02 AM
Rank: Member


Joined: 11/17/2009
Posts: 364
Location: Where everyone knows you
@ maka,
You are a gem. This is outstanding information. Thank you very much.
I submitted my bid as non competitive (Average) price.
obiero
#1534 Posted : Monday, October 04, 2021 6:46:57 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,950
Location: nairobi
maka wrote:
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.


I really miss Kibaki. Such a thing never could happen under his watch. And the securities exchange offered much higher ROI than bills and bonds
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Tokyo
#1535 Posted : Monday, October 04, 2021 10:14:42 AM
Rank: Veteran


Joined: 10/9/2006
Posts: 1,495
If the current 91 days Treasury bill rates remain, I will temporarily halt trading and focus more elsewhere.
work to prosper
Ericsson
#1536 Posted : Monday, October 04, 2021 10:28:25 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,942
Location: NAIROBI
Tokyo wrote:
If the current 91 days Treasury bill rates remain, I will temporarily halt trading and focus more elsewhere.


Inflation will rise faster than the rates
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
obiero
#1537 Posted : Monday, October 04, 2021 6:59:43 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,950
Location: nairobi
Ericsson wrote:
Tokyo wrote:
If the current 91 days Treasury bill rates remain, I will temporarily halt trading and focus more elsewhere.


Inflation will rise faster than the rates

Inevitably
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
maka
#1538 Posted : Wednesday, October 06, 2021 12:40:12 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
Anytime now...
possunt quia posse videntur
Angelica _ann
#1539 Posted : Wednesday, October 06, 2021 2:18:52 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,864
EABL Bond, how do you rate it?
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
maka
#1540 Posted : Wednesday, October 06, 2021 2:50:48 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,475
Location: Nairobi
Angelica _ann wrote:
EABL Bond, how do you rate it?


Still looking at it... Lakini from mapema you can get a better paper in the secondary market....smile
possunt quia posse videntur
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