Kenya Bond Market Update: 20-Apr-2023

Published on
April 21, 2023

Results & Rejections – An interesting primary auction as the FXD1/2022/3Yr results were released while the CBK announced that the FXD1/2019/15Yr auction was canceled. The FXD1/2022/3Yr results are summarized below:

·         FXD1/2022/3Yr Average: 13.471%

·         Subscription: KES 1.757Bn in bids accepted from a total of KES 7.328Bn received.

·         Comment: Massive rejections as the CBK looked to signal to the market that exorbitant interest rates will not be accepted. The average of all bids received was 13.839%, which was significantly than the accepted average. This is probably the reason behind the FXD1/2019/15Yr auction cancellation.

·         Attached are the results in full for your perusal.

For your trading activity ahead, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting!

NB: Tomorrow is a public holiday in Kenya to mark Idd-ul-Fitr

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 and the FXD1/2022/3Yr bond auction results.

  1. Bond Positions
  2. FXD1/2022/3Yr