Kenya Bond Market Update: 10-Jul-2023

Published on
November 29, 2023

Prepare Your Bets – The sale period for this month’s bond auction closes tomorrow. The CBK has re-opened the FXD1/2016/10Yr (3.2 years left) and offered a new 5Yr Bond, FXD1/2023/5Yr, in a bid to secure KES 40Bn. My updated expectations for this auction are as follows:

  • FXD1/2016/10Yr: average between 16.00% – 16.20%
  • FXD1/2023/5Yr: average between 16.10% - 16.30%
  • Subscription: Oversubscription

For your trading activities for the day and week ahead, attached is the CBK weekly report to assist in your reading of the market while updated benchmark Yield Curve levels are ready for your perusal on the attached pricelist. I have also attached the NSE Implied Yields for the NSE’s valuations of all the treasuries.

To bring it all together, 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 Updates

Attached are the bond positions available today, the NSE Implied Yields, the CBK Weekly Report and the bond prospectus for July 2023.

  1. Bond Positions
  2. NSE Implied Yields
  3. CBK Weekly Report
  4. Bond Prospectus for July 2023