The bond market activity
The market opened the week on thin trading volumes as the inflation rate edged upward to 7.08% in April-15. Bond turnover contracted by 73% to 338 million. FXD3/2013/5yr was the most traded paper with a contribution of 29.3% of the 6total turnover at an average rate of 11.35%.
Money market activity
The inter-bank overnight rates continued to rise as liquidity remains relatively tight printing 10.2726% from 10.2553% previously with volumes rising to 29.3b from 22.1b in the previous day’s session. CBK was in the repo market for 13.0b with no bids received.