Kenya Bond Market Update: 09-May-2023

Time to Bid – Final day to submit your bids for the new 3Yr bond, FXD1/2023/3Yr. Below remains my expectation for how the auction will go:

• Average: 13.90% - 13.95% range
• Subscription: Bid volumes to reach the KES 20Bn target set by the CBK

For your activities away from the auction, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and best wishes for the auction ahead!

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

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Attached are the bond positions available today and the FXD1/2023/3Yr Bond Prospectus.

1. Bond Positions
2. FXD1/2023/3Yr