The auction results of the FXD1/2024/3Yr and re-opened FXD1/2023/5Yr are attached for your perusal. I know you are busy so below is a quick summary of how the auction went:
FXD1/2024/3Yr: Average of 18.3854% on the back of KES 22.069Bn in bids accepted from a total of KES 29.089Bn in bids received
FXD1/2023/5Yr: Average of 18.7697% on the back of KES 2.946Bn in bids accepted from a total of KES 8.062Bn in bids received
Subscription: KES 25.016Bn in bids accepted from a total of KES 37.151Bn in bids received. The Central therefore managed to attract bids that surpassed their KES 35Bn target but only accepted KES 25Bn in a bid to mitigate the push for higher rates by market players.
For you trading activities today, 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
16.50
16.20
0.00
2Yr
18.20
17.80
0.13
5yr
18.80
18.50
0.40
10yr
17.00
16.50
0.00
15yr
16.50
16.00
0.00
20yr
16.50
16.00
0.00
25yr
16.50
16.00
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
16.00
15.50
0.00
IFB1/2016/9 (IFB10)
May-25
16.00
15.75
0.00
IFB1/2015/12 (IFB8)
Mar-27
15.50
15.00
0.00
IFB1/2017/12 (IFB12)
Feb-29
16.00
15.00
0.00
IFB1/2016/15 (IFB11)
Oct-31
16.00
15.50
0.00
IFB1/2018/15 (IFB14)
Jan-33
15.50
15.00
0.00
IFB1/2018/20 (IFB15)
Oct-38
16.50
16.00
0.00
IFB1/2019/25 (IFB16)
Feb-44
16.50
16.00
0.00
IFB1/2019/16 (IFB17)
Oct-35
15.50
15.20
0.00
IFB1/2020/9 (IFB18)
Apr-29
15.00
14.50
0.00
IFB1/2020/6 (IFB19)
May-26
14.50
13.75
0.00
IFB1/2020/11 (IFB20)
Aug-31
15.50
15.00
0.00
IFB1/2021/16 (IFB21)
Jan-37
17.00
16.00
0.00
IFB1/2021/18 (IFB22)
Mar-39
17.00
16.00
0.00
IFB1/2021/21 (IFB23)
Aug-42
17.00
16.00
0.00
IFB1/2022/19 (IFB24)
Jan-41
17.00
16.50
0.00
IFB1/2022/18 (IFB25)
May-40
17.00
16.50
0.00
IFB1/2022/14 (IFB26)
Oct-36
17.00
16.50
0.00
IFB1/2022/6 (IFB27)
Nov-28
17.00
16.00
0.00
IFB1/2023/17 (IFB28)
Feb-40
16.30
16.00
0.00
IFB1/2023/7 (IFB29)
Jun-30
16.50
16.00
0.00
IFB1/2023/6.5 (IFB30)
May-30
17.40
17.30
-0.15
Key Interest Rates
Mov (bps)
O/N Interbank
13.4188%
0.20
91 Day T-bill
16.0589%
7.60
182 Day T-bill
16.0915%
12.48
364 Day T-bill
16.2786%
17.86
Central Bank Rate (CBR)
12.50%
200.00
Inflation
6.60%
-20.00
Attached are the bond positions available today and the FXD1/2024/3Yr & FXD1/2023/5Yr auction results.
