By BUUMBA CHIMBULU ZAMBIA’S bond market has in the last eight weeks witnessed a yield curve which has seen the six, nine and 12 months tenors scaling higher in three respective debt sales .This is after the first bond auction of the year repriced higher confirming interest rate bears.Last week, the market got a fret in their outlook as the debut bond sale printed yields a few basis points higher. The Bank of Zambia was only able to satisfy K1.9 billion of the K2.9 billion appetite in bids pushing the three, seven and 10 year points on the demand curve 100, 150 and 140 basis points higher to 20.5 percent, 24.5 percent and 25.5 percent, respectively.According to the Kwacha Arbitrageur magazine, Friday January 21 outcome, strengthened the case for yield rate bears whose signs were earlier detected on the treasury bill end of the Kwacha curve. “In the last 8 weeks, the yield curve has seen the 6, 9 […]
GOVERNMENT BOND ATTRACTS BIDS WORTH K3 BILLON
