obiero wrote:Ericsson wrote:Sufficiently Philanga....thropic wrote:lochaz-index wrote:Sufficiently Philanga....thropic wrote:Meanwhile, today we are on our way to breach the Dec 2011 low of 3070 on the NSE 20. Next stop will be the Jan 2017 low of 2790. If this too is taken out, we shall be staring at the March 2009 lows of 2360. If Uhuru refuses to bite the bullet at this level and tame his huge appetite for loans, then we can look at more rout targeting the September 2002 low of 1005
I think anything below 3000 will translate into a long winter. From the reaction of KE eurobond yields I would say it is almost a certainty. Of critical importance right now despite the irksome nature of their involvement, is for KE to remain in the good graces of the IMF. Yank that support out and it becomes a very steep and nasty decline across all asset classes. That implies the VAT on petroleum stays and the rate cap goes.
Note that yield on the 10yr note has been declining (about a 100bps) since the advent of the caps against a tide of rising global interest rates. The more the cap remains the more destructive the snap will be when it is finally lifted. This is coz it will have to rise that much faster to catch up with the global average for EM/FM.
The rate cap has worked in similar fashion to a currency peg and this is a bad environment for the cbk to try and defend it.
All things held constant, how KE will navigate next year will be the deciding factor when principal bullet payments on debt come due.
This will be quite interesting.
On the NSE, a long winter is here with us and salvation will only come after financial discipline in the public sector is attained, a tall order by all means and might require a change of guard at the top.
NMG @75 per share
Crazy!
Crazy times ahead. Ask me what am I waiting for. For my concrete work to be finished I leverage on it because I am confident:-
Britam will trade sub 9/= when the happy hearts know tharat is not a loser
2. Kq will trade sub 6/= when NY dust blows
3. NMG chini ya mbei ya DN
3. EABl chini ya mbei ya tusker, nitabandirishanga bottle kwa hisa moja na change napata
4. BAT sub 450/
5. CFC sub 60
6. Kplc, sub token ya 4/=
7. K_gin. Kubole.
Hi, men. I will be robbing every bank with my fattened titledeeds.
Foreman hebu harakisha hapo, naona mawingu gathering to the east at a distance.
Hiyo maneno ya bengi, hebu tuachie J.m
,Behold, a sower went forth to sow;....