Kenya Bond Market Update: 05-May-2023

Published on
May 22, 2023

The sale-period of the incoming 3Yr bond, FXD1/2023/3Yr, closes next week Tuesday. At this time, we dust off the crystal ball and make predictions on how the auction will play out. My expectations are below:

  • Average: 13.85% - 13.95% range
  • Subscription: Bid volumes to reach the KES 20Bn target set by the CBK

Attached is the bond prospectus to assist in your decision making process. I have also attached the inflation data for April 2023. The overall year-on-year inflation came in at 7.90%, a significant drop from March’s rate. Finally, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!

Below are the two-way quotes for the benchmark tenors, two-way quotes for the infrastructure bonds and the key rates:

Kenya Bond Market

Attached are the bond positions available today, the T-bill auction results, inflation data for April 2023 and the FXD1/2023/3Yr Bond Prospectus.

  1. Bond Position
  2. T-bill Auction Results
  3. Inflation data
  4. FXD1/2023/3Yr