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65 Pages«<62636465>
Treasury Bills and Bonds
Esstiko
#1261 Posted : Thursday, October 24, 2019 4:23:12 PM
Rank: Hello


Joined: 6/5/2019
Posts: 5
AndyC wrote:
Disappointing coupon rate on the IFB. Bet Kengen will do better.

An offer price of 95.875 aint bad either.. But the coupon rate should have been better.
maka
#1262 Posted : Friday, October 25, 2019 3:21:48 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi


Said it before this should happen in Kenya as well...

On the coupon rate we were conned.. What did the initial prospectus say?
possunt quia posse videntur
maka
#1263 Posted : Friday, October 25, 2019 3:26:11 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi
maka wrote:


Said it before this should happen in Kenya as well...

On the coupon rate we were conned.. What did the initial prospectus say?



possunt quia posse videntur
AndyC
#1264 Posted : Friday, October 25, 2019 3:27:13 PM
Rank: Member


Joined: 4/21/2015
Posts: 124
maka wrote:


Said it before this should happen in Kenya as well...

On the coupon rate we were conned.. What did the initial prospectus say?


Prospectus promised a market determined rate. Words can be very deceivingLaughing out loudly
maka
#1265 Posted : Friday, October 25, 2019 4:13:00 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi
AndyC wrote:
maka wrote:


Said it before this should happen in Kenya as well...

On the coupon rate we were conned.. What did the initial prospectus say?


Prospectus promised a market determined rate. Words can be very deceivingLaughing out loudly



possunt quia posse videntur
Ericsson
#1266 Posted : Friday, October 25, 2019 4:18:55 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,631
Location: NAIROBI
AndyC wrote:
maka wrote:


Said it before this should happen in Kenya as well...

On the coupon rate we were conned.. What did the initial prospectus say?


Prospectus promised a market determined rate. Words can be very deceivingLaughing out loudly


If they come from Jubilee administration.
Angelica _ann
#1267 Posted : Friday, October 25, 2019 4:39:16 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,928
Hii ni opus dei con job, 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
murchr
#1268 Posted : Friday, October 25, 2019 5:10:01 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,948
Ericsson wrote:
murchr wrote:
maka wrote:
https://www.centralbank.go.ke/uploads/treasury_bonds_prospectuses/1334980349_OCTOBER%20%202019%2016%20YR%20%20IFB1-2019-16%20dated%2028.10.2019..pdf

October IFB...

If you have an account buy as much as possible...


Coupon = Market determines means?


Auction method or best fit coupon rate


Mmh!!!
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Impunity
#1269 Posted : Sunday, October 27, 2019 5:48:26 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,169
Location: Masada
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

maka
#1270 Posted : Sunday, October 27, 2019 6:13:34 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...
possunt quia posse videntur
Esstiko
#1271 Posted : Sunday, October 27, 2019 6:57:23 PM
Rank: Hello


Joined: 6/5/2019
Posts: 5
Does it make any difference if they gave an offer price of 100 instead of 95.875 but with the weighted average coupon rate? It seems they gave us upfront interest.
murchr
#1272 Posted : Sunday, October 27, 2019 10:14:01 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,948
Esstiko wrote:
Does it make any difference if they gave an offer price of 100 instead of 95.875 but with the weighted average coupon rate? It seems they gave us upfront interest.



Isnt that how it works?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
maka
#1273 Posted : Monday, October 28, 2019 9:18:02 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi
murchr wrote:
Esstiko wrote:
Does it make any difference if they gave an offer price of 100 instead of 95.875 but with the weighted average coupon rate? It seems they gave us upfront interest.



Isnt that how it works?


Yes that's if buying at a disount but its still off the market weighted average of accepted rate by 0.144%

12.394 - (11.75/95.875 *100)

When it comes to trading its a different ball game imagine someone applying the paper at 12.50% and got it lets say 100 m..... Then if CBK had gone with the coupon of 12.394 (marketed weighted average) ...trading that paper from 12.50 to lets say 12 flat gives crazy margins... Let me make the calc I will show the math....
possunt quia posse videntur
Impunity
#1274 Posted : Monday, October 28, 2019 9:48:44 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,169
Location: Masada
maka wrote:
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...


Can guys refuse to pay for the bond and let's see what CBK will do.
This is robbery.
How did they arrive at 11.75%
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

maka
#1275 Posted : Monday, October 28, 2019 10:13:42 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi
Impunity wrote:
maka wrote:
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...


Can guys refuse to pay for the bond and let's see what CBK will do.
This is robbery.
How did they arrive at 11.75%



Refuse how and guys have paid rem we are very small fish in the sphere of things.... Retail investors are just about 2.1%... You compete with guys who go into a primary up to 1B or way more at times... Then buy anything outstanding from the Secondary market...smile

On a serious note this was so wrong in every way first time I have seen this ....
possunt quia posse videntur
Impunity
#1276 Posted : Monday, October 28, 2019 10:35:22 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,169
Location: Masada
maka wrote:
Impunity wrote:
maka wrote:
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...


Can guys refuse to pay for the bond and let's see what CBK will do.
This is robbery.
How did they arrive at 11.75%



Refuse how and guys have paid rem we are very small fish in the sphere of things.... Retail investors are just about 2.1%... You compete with guys who go into a primary up to 1B or way more at times... Then buy anything outstanding from the Secondary market...smile

On a serious note this was so wrong in every way first time I have seen this ....


Me too I have never seen this b4.
Serious "typo" in the department at cbk.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

maka
#1277 Posted : Tuesday, October 29, 2019 1:34:19 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,236
Location: Nairobi
Impunity wrote:
maka wrote:
Impunity wrote:
maka wrote:
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...


Can guys refuse to pay for the bond and let's see what CBK will do.
This is robbery.
How did they arrive at 11.75%



Refuse how and guys have paid rem we are very small fish in the sphere of things.... Retail investors are just about 2.1%... You compete with guys who go into a primary up to 1B or way more at times... Then buy anything outstanding from the Secondary market...smile

On a serious note this was so wrong in every way first time I have seen this ....


Me too I have never seen this b4.
Serious "typo" in the department at cbk.



possunt quia posse videntur
shadowinvestor
#1278 Posted : Tuesday, October 29, 2019 1:39:31 PM
Rank: Member


Joined: 1/13/2012
Posts: 139
What GOK did was wrong in terms on industry standards, that being said, for investors, their Yield is the most important thing here, Average at 12.394/ any other competitive bid. You get a significant discount at average and even better for those who locked in higher yields. The only concern is that incase i bid 10M at average, the accepted at 9.5M, the balance of 0.5M does not earn a return as per the current yield of 12.394% making my balance suffer reinvestment risk at lower Yields


Impunity wrote:
maka wrote:
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...


Can guys refuse to pay for the bond and let's see what CBK will do.
This is robbery.
How did they arrive at 11.75%

Esstiko
#1279 Posted : Tuesday, October 29, 2019 3:47:29 PM
Rank: Hello


Joined: 6/5/2019
Posts: 5
shadowinvestor wrote:
What GOK did was wrong in terms on industry standards, that being said, for investors, their Yield is the most important thing here, Average at 12.394/ any other competitive bid. You get a significant discount at average and even better for those who locked in higher yields. The only concern is that incase i bid 10M at average, the accepted at 9.5M, the balance of 0.5M does not earn a return as per the current yield of 12.394% making my balance suffer reinvestment risk at lower Yields


Impunity wrote:
maka wrote:
Impunity wrote:
Angelica _ann wrote:
Hii ni opus dei con job, sad!!!


So guys will be paid 11.75% on the value invested and not at 12.5%?



Yep...The weighted average of accepted bids should have been used as the coupon rate as per previous auctions... Hapo wamegonga watu ndipo.... They have refused to answer questions as to how they arrived at that figure...


Can guys refuse to pay for the bond and let's see what CBK will do.
This is robbery.
How did they arrive at 11.75%



Makes sense, the balance of face value suffers no return.
Impunity
#1280 Posted : Thursday, October 31, 2019 9:28:39 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,169
Location: Masada
Madness.
Even moi in the early 90s never did this.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

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