Kenya Bond Market Update: 10 November 2022

Published on
November 10, 2022
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Results are In

The IFB1/2022/14Yr results are in and when we say market is liquid, market is indeed liquid. Below is a quick summary of the results:
  • The average of the accepted bids: 13.938%.
  • Subscription: KES 75.572Bn in bids accepted from a total of KES 91.849Bn in bids received
  • All in all a very successful auction for the CBK as they managed to surpass their KES 60Bn target.
Below is a snapshot of what is available in 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 10.20 9.90 0.00
2Yr 11.75 11.00 0.00
5yr 13.40 13.10 0.00
10yr 13.95 13.80 0.00
15yr 14.00 13.80 0.00
20yr 14.10 13.90 0.00
25yr 14.20 14.05 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 12.00 11.45 0.00
IFB1/2016/9 (IFB10) May-25 12.00 11.45 0.00
IFB1/2015/12 (IFB8) Mar-27 12.20 12.00 0.00
IFB1/2017/12 (IFB12) Feb-29 12.00 11.00 0.00
IFB1/2016/15 (IFB11) Oct-31 13.20 12.70 0.00
IFB1/2018/15 (IFB14) Jan-33 13.60 13.20 0.00
IFB1/2018/20 (IFB15) Oct-38 13.80 13.50 0.00
IFB1/2019/25 (IFB16) Feb-44 14.00 12.90 0.00
IFB1/2019/16 (IFB17) Oct-35 13.70 13.50 0.00
IFB1/2020/9 (IFB18) Apr-29 13.00 12.70 0.00
IFB1/2020/6 (IFB19) May-26 12.30 12.00 0.00
IFB1/2020/11 (IFB20) Aug-31 13.20 12.80 0.00
IFB1/2021/16 (IFB21) Jan-37 13.75 13.50 0.00
IFB1/2021/18 (IFB22) Mar-39 13.85 13.20 0.00
IFB1/2021/21 (IFB23) Aug-42 14.00 13.30 0.00
IFB1/2022/19 (IFB24) Jan-41 13.90 13.30 0.00
IFB1/2022/18 (IFB25) May-40 13.80 13.45 0.00
IFB1/2022/14 (IFB26) Oct-36 14.10 13.80 0.00
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 4.2933% -20.52
91 Day T-bill 9.139% 1.20
182 Day T-bill 9.691% 1.30
364 Day T-bill 10.109% 14.40
Inflation 9.59% 41.00
 
 
Attached are the bond positions available today and the IFB1/2022/14Yr Bond Auction results.
Bond Positions Available Today
IFB1/2022/14Yr Bond Auction results
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