For this month, the CBK has put on offer a new 5Yr bond, FXD1/2023/5Yr, and re-opened the FXD1/2016/10Yr (3.2 years left) in a bid to secure KES 40Bn. Attached is the bond prospectus for all details pertaining this auction. 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 and the inflation data for the month of June 2023. 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:
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor
Bid (%)
Offer (%)
Mov (t-t0)%
1Yr
11.75
11.25
0.00
2Yr
13.75
13.20
0.00
5yr
14.50
14.20
0.00
10yr
14.70
14.30
0.00
15yr
15.50
14.50
0.00
20yr
16.00
14.50
0.00
25yr
16.00
14.50
0.00
Below are details of the two-way quotes for the infrastructure bonds and the key rates:
Indicative Two-Way Quotes - IFB Series
IFB series
Maturity
Bid (%)
Offer (%)
Mov (t-t0)%
IFB1/2017/7 (IFB13)
Nov-24
13.20
12.70
0.00
IFB1/2016/9 (IFB10)
May-25
13.20
12.60
0.00
IFB1/2015/12 (IFB8)
Mar-27
13.30
13.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
13.80
13.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
14.00
13.00
0.00
IFB1/2018/15 (IFB14)
Jan-33
14.50
14.10
0.00
IFB1/2018/20 (IFB15)
Oct-38
15.50
14.00
0.00
IFB1/2019/25 (IFB16)
Feb-44
16.00
14.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
14.50
13.80
0.00
IFB1/2020/9 (IFB18)
Apr-29
13.75
13.50
0.00
IFB1/2020/6 (IFB19)
May-26
13.00
12.00
0.00
IFB1/2020/11 (IFB20)
Aug-31
14.50
14.10
0.00
IFB1/2021/16 (IFB21)
Jan-37
15.50
14.50
0.00
IFB1/2021/18 (IFB22)
Mar-39
15.50
14.50
0.00
IFB1/2021/21 (IFB23)
Aug-42
15.50
15.00
0.00
IFB1/2022/19 (IFB24)
Jan-41
15.50
14.50
0.00
IFB1/2022/18 (IFB25)
May-40
15.70
14.50
0.00
IFB1/2022/14 (IFB26)
Oct-36
15.50
14.50
0.00
IFB1/2022/6 (IFB27)
Nov-28
13.30
13.10
0.00
IFB1/2023/17 (IFB28)
Feb-40
15.50
14.50
0.00
IFB1/2023/7 (IFB29)
Jun-30
15.65
15.60
-0.05
Key Interest Rates
Mov (bps)
O/N Interbank
10.1682%
12.32
91 Day T-bill
11.904%
11.90
182 Day T-bill
11.947%
8.40
364 Day T-bill
12.157%
22.30
Central Bank Rate (CBR)
10.50%
100.00
Inflation
7.90%
-10.00
Attached are the bond positions available today, the NSE Implied Yields, the CBK Weekly Report, Inflation data for June 2023 and the bond prospectus for July 2023.
