Kenya Bond Market Update: 11 January 2023

Published on
January 12, 2023
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Post Primary Blues

As we wait for the results of this month’s bond auction, below is a snapshot of what is at play within the secondary market for your consideration. Happy hunting and good luck with the results!
 
Below are the two-way quotes for the benchmark tenors:
 
Indicative Two-Way Quotes - Benchmark Tenors
Benchmark Tenor Bid (%) Offer (%) Mov (t-t0)%
1Yr 10.50 10.00 0.00
2Yr 12.50 12.00 0.00
5yr 13.70 13.50 0.00
10yr 13.95 13.80 0.00
15yr 14.00 13.80 0.00
20yr 14.10 13.90 0.00
25yr 14.35 14.20 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 13.20 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 13.25 0.00
IFB1/2021/18 (IFB22) Mar-39 13.85 13.50 0.00
IFB1/2021/21 (IFB23) Aug-42 14.00 13.50 0.00
IFB1/2022/19 (IFB24) Jan-41 13.90 13.50 0.00
IFB1/2022/18 (IFB25) May-40 13.70 13.30 0.00
IFB1/2022/14 (IFB26) Oct-36 13.80 13.75 0.00
IFB1/2022/6 (IFB27) Nov-28 13.30 13.225 0.02
 
 
 
Key  Interest Rates   Mov (bps)
O/N Interbank 5.3816% -25.53
91 Day T-bill 9.392% 2.30
182 Day T-bill 9.847% 1.30
364 Day T-bill 10.369% 6.10
Inflation 9.06% -42.00
 
Attached are the bond positions available today.
Bond Positions Available Today
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