Big Wow! – A bit late with the note today, my apologies. The IFB1/2023/7Yr auction results came in hot yesterday with the market flexing its muscles and the CBK flexing its appetite. The numbers in play blew my mind. Below is a quick summary:
· Bids: KES 220.518Bn in bids received with 213.399Bn in bids accepted
· Average: 15.837%
Away from this spectacular auction, 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:
Attached are the bond positions available today and the IFB1/2023/7Yr auction results.